Corina1231 said:
Phatcat,
Your offer makes no sense. The 39 month lease should not cost $55 more per month than your 24 month lease, even with the same amount down. I believe the numbers will change when you get in the door. By the way, do you get a state rebate on purchases and leases of 36 month or longer as we do in CA? Our rebate is $2500 which usually covers the down.
Ron
Leases: See first post on page 7 which explains why 24 mos are cheaper. leases are based on expected residual value. car will be worth less after 3 years than 2; therefore lease payments increase. It's counter intuitive at first when compared to a conventional loan.
state rebate: Illinois does not offer rebates on leases, but they do on purchases. We qualify for 10% of the msrp up to $4000.
Thus I'm struggling with lease vs buy and I found a dealer who's willing to sell $1000 below invoice.
Factors pushing me towards the 2 yr lease: 1) Technology improvements, 2) Uncertain resale 3) Battery degradation & replacement costs & air cooled vs liquid cooled battery 4) There wil be about a dozen more EV options after the 2 year lease expires. 2 year lease cost w taxes: $8700
At the same time I could purchase the SV outright for $30,000 - $7500 = 22,500 OTD. The state credit would cancel out the tax and fees.
$22,500 OTD to purchase outright or
$8,700 for 2 years w/ 30,000 miles
hmmmmmmmm