Tesla takes the gloves off ;-)

It looks like a nice cheap lease deal on the Tesla.

The problem I see is that the author seems to be comparing a good deal to lease the Tesla against a terrible deal to lease the Corolla. $477 a month for 10k miles a year??

Why wouldn't I pay $466 a month for just 12 more months and own it for the other 200k+ miles it can give, or choose my own time to sell it off? Used Corollas hold their value extremely well.



I guess I have to score this as good on Tesla for offering a discount, and shame on Paul Fosse for making such a disingenuous crap comparison. It's junk like this that gives the green blogs such a smarmy reputation.

 

+1
Who would want to lease Corolla for $477/mo with 1K down when the same car can be purchased with no money down for $427/mo albeit for a longer period of payment.

That being said, a short-term lease on a BEV is the way to go if the monthly payment is affordable, and the mileage and other limitation do not bother the lessee. No worry about resale value or battery degradation. When the lease cost becomes below $200/mo on any BEV, I will seriously consider it.

 

Right? I mean if you are already committed to leasing something then this Tesla deal is hallellujah slam-dunk stuff. No need to muddy the waters making comparisons to ripoffs.

 

Agreed, my takeaway as well.

if I ever have to pay 500 bucks a month for a vehicle, I’ll just walk.
But for people who want a low end Tesla, it’s a great deal

 

I remember seeing $199/mo lease deals on Leaf some years back when I was looking at a deal to beat the PP purchase. I have not seen anything as "affordable" deals on current BEVs yet. But with the comeback of tax credits to Tesla and GM, and if my understanding is correct then even Toyota and other non-NorthAmerican assembled BEVs and PHEVs can take the tax credit benefit if leased. Now leased BEVs and PHEVs may be more affordable than purchasing them in general. If we decide to get a second car for our household, a sub-$20K BEV to purchase or a sub-$200/mo lease would be a great choice.

 

This lease does allow those that can't claim the full tax credit to benefit from it, and that credit amount may stay at $7500 because it is a lease. The various limitations on the credit, and which models qualify, are for consumer purchased cars. Those don't apply to purchases for commercial use, and the IRS has ruled a lease company buying a car to lease it is a commercial purchase.

 

Yep, although doubtful, in theory, in a few months, we may see the full $7500 tax credit applied "great" lease deals on 2023 Prius Prime. No tax credit for the purchase, but the lease may work out better.

 

As good as that Corolla lease.

 

Same price as a corolla - ouch that's got to smart.
.

 

That may apply to Tesla in today's market, but in the past for most BEVs, the resale value after the lease period was far less than an equivalent gasser, especially for a reliable model like Toyota Corolla.

 

The thing is with a Prius $5,000 markup in most instances? That's a huge offset against any future lease pricing.
That said, and not that I'm stalking your posts, but as you posted once upon a time - there have been leases on electrics for as low as $79 a month
Hyundai Ioniq EV for $79/mo | PriusChat
Once upon a time there was also a Mitsu IMev lease that was published with only $500 down $79/month as well.
Shoppers gona shop

 

Agreed. As I said, "doubtful"... And like @Trollbait commented, when the 2023 PP arrives in the US, it will be even higher marked up. Toyota has never offered a very attractive lease program for their line-ups in the past. I doubt it will change. Yep, I looked very hard to get the $79 lease deal on Ioniq. Even though it had such a low EV range, for my use, it would have been the perfect first BEV for me, back then. That is if I could find one to lease. They never produced enough cars to go around. I don't think anything is as good of a deal on any of the current Hyundai line up. Heck, I can't find an Ioniq 5 in stock even with $5K markup. If they make another 100-mile EV range BEV and lease it cheap, it would still be a perfect BEV for my use case today.

Like this one:
The Nissan Sakura Is the $14K EV We Could Use Here

 

Something to consider with the Corolla lease deal being terrible is that the car manufacturer is not the sole source for a lease. As you can go to different banks for financing, the same is true for leasing.

 

looks like a great car and good idea overall, but we would have a lot of work to do to accept kei cars here.

It would take a lot to get the public educated about where you could take those and where you couldn't. Probably billions in signage alone. Culturally this would take a while to sink in.

I consider it to be inevitable from a cost and energy standpoint, but it's going to take some work to integrate those things safely.

 

speaking of shopping I would venture a guess that the author went shopping for the worst lease deal he could find on $economy_cars and got lucky on Toyota's website.

 

To clarify: I'm implying that we don't know if he didn't go to twenty such sites in order to come up with the screenshots needed for the article written- it could just as well have been about the Altima or the Elantra or some other well-known gas car. Anyone who happened to be running a particularly bad deal to get the numbers up.

I beliieve the author was looking for a bad enough deal to make the new Tesla lease look equal or better and happened to find it with the Corolla leased from Toyota at this moment.

And again, I think that's just a crap distraction from the real story. Hello, there's a cheap lease deal on the model 3! I know a few people who could act on that news this month.

 

Then - along w/ lease info, & Tesla just recently reducing prices - there's this;

Tesla raises the price of its Model Y

.