Chevy Bolt - Tesla Model 3 Lease Comparison

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Thread: Chevy Bolt - Tesla Model 3 Lease Comparison

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    Chevy Bolt - Tesla Model 3 Lease Comparison

    Chevy Bolt - Tesla Model 3 Lease Comparison: April 26, 2019
    -----------------------------------------------------

    Chevy Bolt:

    FIGURES BELOW DO NOT INCLUDE SALES TAX AND FEES
    $279/month for 36 months.
    For Everyone: $3,959 due at signing (after all offers)*.
    $0 security deposit.

    For Current Lessees of 2014 model year or newer non-GM vehicles:
    $3,459 due at signing (after all offers)**.
    $0 security deposit.

    Tax, title, license, and dealer fees extra.
    Mileage charge of $0.25/mile over 30,000 miles at participating dealers.
    Expires 4-30-2019

    *Example based on survey. Each dealer sets own price. Your payments may vary. Payments are for a 2019 CHEVROLET Bolt EV LT with an MSRP of $37,495. 36 monthly payments total $10,044. Option to purchase at lease end for an amount to be determined at lease signing. Lessor must approve lease. Take delivery by 04-30-2019. Lessee pays for maintenance, repair, excess wear and disposition fee of $395 or less at end of lease. Payments may be higher in some states. Not available with other offers. See dealer for details.

    **Current Lessees of 2014 model year or newer non-GM vehicles: Payments are based on an MSRP of $37,495. 36 monthly payments total $10,044. Must show proof of lease. Option to purchase at lease end for an amount to be determined at lease signing. Lessor must approve lease. Take delivery by 04-30-2019. Lessee pays for maintenance, repair, excess wear and disposition fee of $395 or less at end of lease. Payments may be higher in some states. Not available with other offers. See dealer for details.

    Source: Chevrolet.com

    Tesla Model 3 - Standard Model (Limited Availability)

    FIGURES BELOW INCLUDE SALES TAX AND FEES
    Despite debuting barely over a month ago, the $35,000 Model 3 Standard is no longer listed on Tesla's website and can only be purchased or leased by asking for it directly. Now, we've finally learned just how much it costs to lease.

    According to Tesla Finance, the Model 3 Standard can be leased from $469 for 36 months with $5,115 due at signing. That's based on an MSRP of $36,200 with destination and includes an allowance of 10,000 miles per year.

    Plan to drive more? Extending that to 12,000 miles increases the payment to $479. With 15,000 miles, the payment is $499. As previously announced by Tesla, it's important to note that there's no purchase option once the contract is up.

    Unlike most leases you'll find on Tesla's website which are merely estimates, the numbers above include estimated taxes & fees (in this case, based on a California location). For more precise numbers for other states, you'll have to contact Tesla directly.

    However, the automaker doesn't make it easy.

    Initially, a representative stated via chat that the Standard wasn't eligible for leasing. Then, a salesperson reached by email said leasing was possible, and never gave a price. 3 emails to Tesla Finance yielded a one-line response pointing us to a different email.

    For the record, the correct email is [email protected], not [email protected] as suggested on the company's own leasing page.

    Based on our analysis, Tesla's cheapest vehicle may not be all that great to lease. When you factor the payment and amount at signing, its effective cost comes out to $611/month. It doesn't help that the underlying money factor is 0.00270, or 6.5% APR.

    For reference, the brand also offers the Standard Range Plus with a greater range of 240 miles (compared to 216 miles with the Standard). Based on a lease quote from Tesla, we know it leases for $552 for 36 months with $5,248 at signing.

    That comes out to an effective cost of $698, $87/month more than the Standard despite a difference in MSRP of $4,500 ($36,200 vs. $40,700). The Standard lacks navigation, heated seats and streaming music capability.

    Source: CarsDirect









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    Re: Chevy Bolt - Tesla Model 3 Lease Comparison

    Initially, a representative stated via chat that the Standard wasn't eligible for leasing. Then, a salesperson reached by email said leasing was possible, and never gave a price. 3 emails to Tesla Finance yielded a one-line response pointing us to a different email. For the record, the correct email is [email protected], not [email protected] as suggested on the company's own leasing page.
    And the fun at Tesla continues...stock is currently having yet another bad day, now down $ 15.73 to $ 231.90 per share, off almost 40% from its 52 week high.









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    Re: Chevy Bolt - Tesla Model 3 Lease Comparison

    EV market is not gaining sales traction, government incentives are falling off and production costs remain high.

    Tesla is about 2 negative stories away from consumers losing confidence in them as an on going entity.

    Where would the upside be here?

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    Re: Chevy Bolt - Tesla Model 3 Lease Comparison

    Sounds like you better get whatever Tesla says in writing or it's going to change on you.
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    Re: Chevy Bolt - Tesla Model 3 Lease Comparison

    Electrics are not my next car, maybe my next next car

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    Re: Chevy Bolt - Tesla Model 3 Lease Comparison

    Quote Originally Posted by kool1 View Post
    Where would the upside be here?
    There isn't one.
    Once the Europeans get their EVs into production, Tesla will lose that market.
    Europeans are not like Americans... if there is a European EV available, they'll buy it.

    China? That's not doing so well now. The window where you could've made money has closed for awhile.
    U.S.? When the tax credits expired, sales tanked. There's competition coming that has them.

    The future is very bleak.
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    Re: Chevy Bolt - Tesla Model 3 Lease Comparison

    Quote Originally Posted by kool1 View Post
    Where would the upside be here?
    Elon Musk heading to Mars and bringing a million Tesla cars with him.
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    Re: Chevy Bolt - Tesla Model 3 Lease Comparison

    Quote Originally Posted by kool1 View Post
    EV market is not gaining sales traction, government incentives are falling off and production costs remain high.

    Tesla is about 2 negative stories away from consumers losing confidence in them as an on going entity.

    Where would the upside be here?
    Tesla will soon be a has been. No way can this company stay in business with all it's problems. Elon Musk is not a person that can be trusted. With him, it's all hype. He was able to convince the media and Wall Street that he had technology no one else has. I'll take the Chevy Bolt over the Model 3 any day. It even looks like the Model 3 will be discontinued. Good luck Elon!!

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    Re: Chevy Bolt - Tesla Model 3 Lease Comparison

    Tesla is too big to fail, and their assets are extremely valuable, especially all of their AV, battery, infrastructure, and motor tech. Worst case scenario they get a partner, bailout, or outright purchased. Tesla just has such a huge multi-variable technological edge over is competitors which are struggling to get close. The gap will likely close, especially as they miss the market on utilities and trucks. Model Y is showing up right when Ford (and presumably others) will have 300+ range small performance utilities. And then Ford and Rivian have their EV trucks. Nevermind Tesla doesn't even have a factory for the Model Y yet and has to come up with money for it which probably means a significant delay. I think getting those segments to market will be the do or die point for Tesla, otherwise they may have peaked in the US for quite awhile (perhaps not on a global level).
    Last edited by BORG; 04-26-2019 at 07:16 PM.

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    Re: Chevy Bolt - Tesla Model 3 Lease Comparison

    Wow, quite a disparity.

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    Re: Chevy Bolt - Tesla Model 3 Lease Comparison

    Quote Originally Posted by BORG View Post
    Tesla is too big to fail, and their assets are extremely valuable, especially all of their AV, battery, infrastructure, and motor tech. Worst case scenario they get a partner, bailout, or outright purchased.
    Why would anyone take over more than $10B in debt? It'll be a lot more before it's over.
    Just let 'em go BK and buy up the scraps for cheap.

    There are not gonna be any Federal bailouts.
    No PGBC pension liability, a vertical manufacturing structure and no dealers closing their doors = no reason for the Feds to step in.


    California could possibly do it (otherwise no buyer in their right mind would continue to build cars in CA), but they'll just go right back to losing money unless the scam artist in charge gets the Rick Wagoner treatment.

    I see that Elon has now agreed to have all of his Twits vetted, not just "material" ones.
    We'll see how that goes...
    Last edited by eaton53; 04-26-2019 at 09:57 PM.
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    Re: Chevy Bolt - Tesla Model 3 Lease Comparison

    No thanks, I'll just keep my paid for ICE vehicle and continue to be happy where I am.

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    Re: Chevy Bolt - Tesla Model 3 Lease Comparison

    Quote Originally Posted by 1958carnut View Post
    No thanks, I'll just keep my paid for ICE vehicle and continue to be happy where I am.
    Ha. What a party-pooper!

    Quote Originally Posted by gkr778 View Post
    Elon Musk heading to Mars and bringing a million Tesla cars with him.
    He could build a bridge. Install solar roof panels in his 1,000,000 Teslas. Recruit some people seeking a better life to drive them to Mars. Pack a lunch! What could go wrong?

    With Cher at his side, the sky is the limit, Noel!
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    Re: Chevy Bolt - Tesla Model 3 Lease Comparison

    Commiefornia is deeply in debt, cannot afford to bail out Tesla

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    Re: Chevy Bolt - Tesla Model 3 Lease Comparison

    Quote Originally Posted by mbukukanyau View Post
    Commiefornia is deeply in debt, cannot afford to bail out Tesla
    OTOH, that hasn't stopped them from doing many other inane things there by way of Gov. Moonbeam and his successor Newsom.

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