Regret my Tesla lease

I mean, I don't completely disagree. But everything is made clear when you sign, and also disposition fees are fairly common across most brands - BMW definitely has them.

wtf i didn’t know the tires needs to be changed??

You thought you could just drop it off with bald tires and make it someone else’s problem?

This is leasing.

Same, I’d not lease a tesla. A friend of mine went through a nightmare that sounds similar to your experience and what’s worse is that it’s the most robotic and unhelpful support experience where you’re just a number. He too had to pay for 4 new tires at lease return simply due to how much tread was left. At least with others you have a bit more of a human experience where getting a better buyout quote is a possibility along with working on potential charges.

I never understood the whole lease a car thing. You pay monthly to never own it

Tbh, yes?

That’s because leasing isn’t a good idea. Very few cases where leasing makes sense.

I’ve leased 3 Model S, and have never had to replace tires, or pay any fees that were not itemized in the lease document. Then again, I didn’t try to return a car with bald tires either. I’ve also leased BMW and Porsches and the return on the Tesla was way easier than the German cars.

I did not know this either 940 for new tires….

I wish I would have asked more questions before doing it I guess is my point.

Yup I should have done more research, I’m hoping to help someone who is lurking to see if it’s a good idea to lease.

Unfortunately I drove more than I expected, tires are bald or I should say won’t pass the wear and tear.

Just buy it out yourself then..🤷🏻‍♂️

If you have the money and value getting into a new car every few years its a very hassle free way of doing it.

I get that and I don’t blame you. It’s so hard to know or have any real info unless you’re doing a ton of research or maybe know folks who went through it. I used to have a 2020 MYP and I was set on getting an MXP. Literally had deposit placed and delivery date ready. But the entire trade in process was so awful where they dinged my car for damaged trunk when it wasn’t and car was in excellent condition… asked me to take photos again, I did and they said “I’m sorry the other department that does that still clicked reject review”. It was so stupid and sales wasn’t any better, to get any real answers about the actual $7500 credit and where it was being applied was a mess. I ended up saying screw it, I don’t want to deal with owning another one and bought a different EV.

Sounds to me like you didn’t read your lease, like at all. It’s not even that long of a document. I’m not sure who you leased it through but I just ended my lease a few months ago with Tesla, got another M3 (financed again with Tesla) and the process was seamless. The disposition fee was waived, I got the $500 credit towards my new M3 and I returned it with no damage. I did have to pay back my last 6 months on my own (Tesla doesn’t budge there) but I chose to do so…my payment is significantly less then they are now- so I know I made a good choice. My assumption with you trying to get a buyout quote and its difficulties was your lease originally was part of the “you can’t buy this car out” clause, which was later removed. The buyout amount…would have also been written on your lease. Tires? Umm yeah you have to have a certain tread depth, shown on the lease. I rotated between my snow and oem tires the car came with. The oem’s still had plenty of tread left so I popped them back on when I returned my lease.

Get a set of Sailun EV Ecosphere tires on Amazon and call it a day

This is is literally how all leases are, so you will get a very similar experience going anywhere. With that said, leasing makes way more sense for Tesla unless you are planning to keep the vehicle for 7-8+ years.

I get that. I’m all about ownership, it’s why I won’t rent a house. I want my payment to go towards something I’ll own

Personal choice. Leasing can help fix credit issues. It can get some people a more manageable payment. Some people don't care about the paying to never own & getting a new car every few years... It makes more sense to me to lease a car than to rent an apartment. I mean my kid pays more in rent for a shitty 2bdr apt than I do for my mortgage & an acre+ of land.

Nothing you mentioned is a "Tesla" thing, this is all standard with leasing. I've leased many brands and this is part of why I switched to financing and if I can't afford the financing then I'm not buying the car.

You don’t take depreciation hit and monthly payment is less than finance. With the spare cash you can invest and make 8% return or put in 4% hysa which is the opportunity cost of financing. Its much more justified in EVs because of huge depreciation

Every lease has a disposition fee and expecting people to replace tires is pretty common too, even more so with EVs. At least those issues are all understood before you lease, particularly the fee which is write in the paperwork we all thoroughly read before making a huge financial commitment. What I dislike about Tesla leases is how particularly bad they are in terms of the financials, at least when they are not pushing incentives which they sometimes do. They won’t quote you the Money Factor anywhere on the website and even resisted hard when I called and texted then for it. But I persisted and when I finally got it it was a 7% interest rate which is horrible. By comparison I usually do deal between 1-4% (the latter is the highest I would ever go) — above that I’m better off using cash. They also assume a residual of about 50% after 3 years which while sadly probably accurate increases the depreciation you are paying in the lease for a few short years of use. At least they let you buy it out now. They didn’t used to.

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Great point, if you have a business you can tie it to

In Canada, there’s no buy out after lease. It’s even more dumber to lease a Tesla in Canada

Your first mistake was leasing. I love my Tesla but I bought it outright

It has to be in good operating condition upon return. Lease agreement specifically calls out that tires must have at least 4/32" left at lease return. EVs typically burn rubber faster than ICE vehicles because of torque and, well, it's fun to mash the accelerator to take off even though its terrible for tire longevity. You may be able to squeak by with a 3 year lease depending on your mileage but if you're like me, lead-footed and opted for the 15k mile/yr option, you'll almost certainly need to replace them before the lease ends.

I’m a lifetime renter. No matter how much money I make I will ALWAYS rent. I don’t want to own depreciating or illiquid assets and I always invest the difference.

Without getting in the here nor there argument - most financial advisors highly encourage folks to never "own" depreciating assets, hence why leasing exists. Folks buy homes because they generally appreciate.

I’d argue it makes more sense that owning.

Another good point. I drive, A LOT! leases typically have a mileage limit

If they were bold, you should not drive with them. Just imagine what insurance would tell you after an accident

*alwayshasbeen.jpg*

I am like you. Lifetime renter. I do not have to worry about maintenance and if the house gets old, I move to the next one. My money is 80% stocks 20% CDs.

Leasing EVs is a very good idea. They depreciate fast and the technology is still far from mature. In 3 years you are probably looking at a much better EV. In 3 years a gas car probably won't change much.

I am on my second Model 3 lease. The first one was leased through Tesla directly and I was able to terminate it early because I wanted to get a new car. They didn't charge me a single penny and even waived the final 3 payments on the lease I was turning in. I guess your results may vary. My current lease is through Santander bank and I am able to generate a buyout quote or extend my lease right on their website.

People dont like to admit this, but there is math to owning vs renting. You have to run the numbers for yourself and decide if its a good idea. There are many scenarios and variables for some peoples circumstances where renting is financially or emotionally better (or both) than owning

Home and vehicle ownership in the US has become a status symbol and people have come to associate it with success, prosperity, and generational wealth. In reality, renting is a perfectly rational and often optimal arrangement for consumption. Especially when the asset carries a negative return.

The key variable is the residual percentage. Leasing EVs can make sense if the residual value is overly optimistic or if you expect major pricing volatility. The residual is the preset end-of-lease value (as a % of MSRP) that determines how much depreciation you’re paying for. If Tesla sets that residual high and the actual market value ends up lower, you’ve effectively transferred downside risk to the manufacturer. But if the residual accurately reflects real depreciation, you’re just prepaying that depreciation — only without building equity or capturing any upside if resale holds up better than expected.

It’s Teslas problem not someone else’s. Tesla still needs to do a bunch of maintenance on it, which is why they mark it up anyways. Whats with the attitude anyways??

Im glad you learned something, but this is how all leases work. But my god, I'm losing brain cells reading this.

Tires fall under owner maintenance? Just like if you burned through your break pads you’d be responsible for that as well. Listen I’m all for what’s fair and making Tesla pay for what they should but you’re being a little egregious.

No I’m good. We drive on chill model. But thanks for the response 4/32 is plenty. I have another y AWD at 40k miles, still more than 4/32. I have confident in my wife. We’ll just rotate them at the half way point.

Well i was told im responsible for excess wear and tear. If tesla tires only last 40k miles and im returning at 36k miles, I’ll assume the tire is near the end of life. Which is normal use not excess. I didn’t know there was another line item specifically for tires. I do now but shit your attitude is just nasty. Work on that shit because not everyone is a top 1% commenter here knowing everything.