Getting Tesla Model S: Costs Comparison Lease Vs New Vs PreOwned options

July 27th, 2015 § Comments Off on Getting Tesla Model S: Costs Comparison Lease Vs New Vs PreOwned options § permalink

Tesla Model S Design

Today i have had a friend pop by to ask for my thoughts on him buying a Tesla. “I’m Ready” he says, migrating from CLS, thats quite something. Robert llewellyn be proud when people take your reasoning (on people driving posh petrol guzzlers must be stupid). “The dawn of enlightenment is here….” 

So, being a friendly EV fan (note, not a hint of envy here, my and my twizy are going to be just fine.. :P) – I have had a quick poke at all the figures available today, now, so offer all options and cost comparisons on the table.

Mind you my friend does have 11 months to go before such an upgrade, so time to wise up on the figures anyway.

Essentially There are 3 options:

Lease

Tesla Model S 85kWh Dual Motor Performance (Nav) Lease

 Typically a chunky 12k deposit + followed by monthly VAT inclusive odd 48 x £1,000 (roughly)

 You’re talking 60k and you have no residual value + any potential excess costs etc. Thats 4 years later.

 Lease option: 12k deposit+ 1k/month x 48 months averages £1,250/month over 4 year period 

Versus 

Brand New order Tesla Model S 85 P85D

 Cost £100k (85k+15k VAT)

Brand New: 100k-30k(minimum revidual i’d estimate at end of 4 years)=>70k/48 => 1,450/month over 4 year period or 70/60 => 1,160/month over 5 year period

Mind you, TeslaMotors Guarantees your 50% minimum residual value if you wish to trade in for an upgrade 3 years later!Tesla Motors Guaranteed 3 year old value at 50%

Versus 

PreOwned Model S P85(D) (AUTOTRADER) 

1 Year old (Best Bang for your Buck, even if you get semi-financed)

Just came across – 2014 (14 reg) Hatchback 15,000 miles – £72,990

  •  Chances are: residual (after 4-5 years), and
  •  After release of Model 3 (cheaper option), and 
  •  After release of Model X, alternative option, however
  •  Continuously updated (software) edition Model S Cost Price of 100k

I would estimate Worth at the very least 30k+ (roughly the same as the Model 3, which is smaller/cheaper), and so it’s worst case scenario, considering all of the above. Not bad one either. This may be more like 35k+

Working backwards, Comparing deals over 4 and 5 year periods.

  •  Lease option: 12k deposit+ 1k/month x 48 months averages £1,250/month over 4 year period 
  •  Brand New: 100k-30k=>70k/48 => 1,450/month over 4 year period or 70/60 => £1,160/month over 5 year period
  •  Pre-Owned: 75k(avg)-30k => 45k/48 => £930/month over 4 year period or 45/60 => £750/month over 5 year period

 

Bonus: FUEL SAVING Consideration: if you take 15k into consideration for average fuel consumption, (25mpg combined – optimistic for automatic RS Line equivalent or whichever car that can achieve 3s/60mph) – Then you can assume deducting £200/month off ALL of the above cost estimates in FUEL SAVINGS/Per Month alone.

 Finally Note: none of these have ludicrous mode – 8k extra for 20% power boost, available in any OWNED option. This is probably not available/prohibitive in the LEASE option.

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