Tesla M3 - Cash / Contract Purchase / Hire Purchase
Discussion
I have a current lease ending in March 2020 and I am close to pulling the plug on a Tesla Model 3.
What is everyone's thoughts on the three different ways that Tesla offer to finance the car - any personal experiences and/or recommendations?
Any advice would be much appreciated. I have knowledge of the different financing methods generally which is not a problem, it is just whether one is particularly advantageous here.
Many thanks!
T
What is everyone's thoughts on the three different ways that Tesla offer to finance the car - any personal experiences and/or recommendations?
Any advice would be much appreciated. I have knowledge of the different financing methods generally which is not a problem, it is just whether one is particularly advantageous here.
Many thanks!
T
Not got a full idea myself, but I was looking just yesterday
Their hire purchase (which I guess is just a loan and you buy in full)... doesn't seem too bad actually. Many bank loans want 6.6% APR for that level of loan. Though if you have some of your own dough up front, you can loan 25k for 2.9% so that would work out better?
Their hire purchase (which I guess is just a loan and you buy in full)... doesn't seem too bad actually. Many bank loans want 6.6% APR for that level of loan. Though if you have some of your own dough up front, you can loan 25k for 2.9% so that would work out better?
M3P @ 51k, using Tesla's 4yr value at £23,750
50% deposit for out right purchase, or to cover the lease/pcp/hp deposit and banking the rest
taking the total payments and deducting any deposit left and asset left i came up with this
lease (3/48 10kmiles @£590) - £7000 (some lease companies are happy to take over your car when u have a vin allocated
Tesla PCP (assuming car handback zero value @ 48 months) - £14000
Tesla HP (highest monthly + 5 year) - £24,000
Purchase (25k loan @2.9% over 4yrs) - £29,000
this is approx of course
50% deposit for out right purchase, or to cover the lease/pcp/hp deposit and banking the rest
taking the total payments and deducting any deposit left and asset left i came up with this
lease (3/48 10kmiles @£590) - £7000 (some lease companies are happy to take over your car when u have a vin allocated
Tesla PCP (assuming car handback zero value @ 48 months) - £14000
Tesla HP (highest monthly + 5 year) - £24,000
Purchase (25k loan @2.9% over 4yrs) - £29,000
this is approx of course
Edited by Dave Hedgehog on Wednesday 4th September 11:36
Dave Hedgehog said:
M3P @ 51k, using Tesla's 4yr value at £23,750
50% deposit for out right purchase, or to cover the lease/pcp/hp deposit and banking the rest
taking the total payments and deducting any deposit left and asset left i came up with this
lease (3/48 10kmiles @£590) - £7000 (some lease companies are happy to take over your car when u have a vin allocated
Tesla PCP (assuming car handback zero value @ 48 months) - £14000
Tesla HP (highest monthly + 5 year) - £24,000
Purchase (25k loan @2.9% over 4yrs) - £29,000
this is approx of course
Hi mate - excuse my stupidity, do you mean to say that a lease company will take over my current lease once I had a Tesla vehicle allocated? Do you have names of any companies?50% deposit for out right purchase, or to cover the lease/pcp/hp deposit and banking the rest
taking the total payments and deducting any deposit left and asset left i came up with this
lease (3/48 10kmiles @£590) - £7000 (some lease companies are happy to take over your car when u have a vin allocated
Tesla PCP (assuming car handback zero value @ 48 months) - £14000
Tesla HP (highest monthly + 5 year) - £24,000
Purchase (25k loan @2.9% over 4yrs) - £29,000
this is approx of course
Edited by Dave Hedgehog on Wednesday 4th September 11:36
ThMo0118 said:
Hi mate - excuse my stupidity, do you mean to say that a lease company will take over my current lease once I had a Tesla vehicle allocated? Do you have names of any companies?
i have spoken to a couple and they have said that once i have a vin they can speak to Tesla amsterdam (buy it) and lease the car to meEdited by Dave Hedgehog on Wednesday 4th September 11:55
Availability may be a problem but this is hard to beat on cost grounds and conveinience
https://www.evezy.co.uk/
monthly cost monthly commitment hand it back any time ALL costs covered
Insurance
Breakdown cover
Wear & Tear
Service & Repair
Charging
M3 from £599/month
https://www.evezy.co.uk/
monthly cost monthly commitment hand it back any time ALL costs covered
Insurance
Breakdown cover
Wear & Tear
Service & Repair
Charging
M3 from £599/month
HalcyonRichard said:
Availability may be a problem but this is hard to beat on cost grounds and conveinience
https://www.evezy.co.uk/
monthly cost monthly commitment hand it back any time ALL costs covered
Insurance
Breakdown cover
Wear & Tear
Service & Repair
Charging
M3 from £599/month
Yeah weighing up costs although 599 is steep, is a complete no brainer when everything is includedhttps://www.evezy.co.uk/
monthly cost monthly commitment hand it back any time ALL costs covered
Insurance
Breakdown cover
Wear & Tear
Service & Repair
Charging
M3 from £599/month
squirdan said:
My recommendation is call up Drive Electric and ask for Matt Eade... ev leasing specialist broker
Because the technology is moving so quickly I’d rather let someone else take the depreciation/ residual risk, and I don’t want the faff of selling it in 2 years time.
Is it moving that quick thou? Look at a 3 year old model S and a new one the difference is about the same as any modern car that’s had a mid life cycle face lift Because the technology is moving so quickly I’d rather let someone else take the depreciation/ residual risk, and I don’t want the faff of selling it in 2 years time.
most of Tesla’s improvement are via software, the hardware seams to evolve at the a similar rate to ICE cars
ThMo0118 said:
HalcyonRichard said:
Availability may be a problem but this is hard to beat on cost grounds and conveinience
https://www.evezy.co.uk/
monthly cost monthly commitment hand it back any time ALL costs covered
Insurance
Breakdown cover
Wear & Tear
Service & Repair
Charging
M3 from £599/month
Yeah weighing up costs although 599 is steep, is a complete no brainer when everything is includedhttps://www.evezy.co.uk/
monthly cost monthly commitment hand it back any time ALL costs covered
Insurance
Breakdown cover
Wear & Tear
Service & Repair
Charging
M3 from £599/month
The contract does state though if you go over 15k miles they can terminate the agreement.
I currently have an EVEZY i3 for my wife which will be being joined by an M3P later this month (hopefully) for me.
Couldn't do better than either deal on PCH/PCP when I worked through the figures and no long term commitment suited me perfectly. You can however sign a 6 month contract if you wish and will then allow you to get the £500 grant towards a home charger installation.
Edited by SWoll on Friday 6th September 10:49
HalcyonRichard said:
Availability may be a problem but this is hard to beat on cost grounds and conveinience
https://www.evezy.co.uk/
monthly cost monthly commitment hand it back any time ALL costs covered
Insurance
Breakdown cover
Wear & Tear
Service & Repair
Charging
M3 from £599/month
Looks great IF you live near one of their locations.https://www.evezy.co.uk/
monthly cost monthly commitment hand it back any time ALL costs covered
Insurance
Breakdown cover
Wear & Tear
Service & Repair
Charging
M3 from £599/month
SWoll said:
bad company said:
Looks great IF you live near one of their locations.
They're getting new locations all the time and will deliver to you for 95p per mile (from their Midlands HQ) Gassing Station | EV and Alternative Fuels | Top of Page | What's New | My Stuff