Question to lease or to buy

[BeerMaker]

I'm embarrassed to admit that I'm going to be crossing over to the dark side and picking up my first EV. Looking at grabbing a Ford mach e as a daily. Does it make more sense financially to go with the 0% interest for 72 months with Ford credit or lease and take advantage of the $7500 customer cash?

 

[attitude]

I just leased a a plug in hybrid so I could get the $7500 federal rebate, from what I’ve seen electric cars have terrible resale value.

I’d compare the lease terms to how much current used Mach Es have depreciated.

 

[Todd Mohr]

Over 90% of all Ev sales are leased, mostly because of the 7500 federal tax credit and most manufactures are putting most of the incentives towards leasing. I currently am offering a 2995 drive off with a 378 per month payment on an Acura ZDX EV, there is a total of 18800 in incentives if you lease. As all leases it is plus tax, dealer fees, and registration, works out to about 5600 total down and 410 per month. I may be partial, but the ZDX is a nicer car that the Mach E.

 

[BeerMaker]

Over 90% of all Ev sales are leased, mostly because of the 7500 federal tax credit and most manufactures are putting most of the incentives towards leasing. I currently am offering a 2995 drive off with a 378 per month payment on an Acura ZDX EV, there is a total of 18800 in incentives if you lease. As all leases it is plus tax, dealer fees, and registration, works out to about 5600 total down and 410 per month. I may be partial, but the ZDX is a nicer car that the Mach E.

Let me check it out. I might be in touch. Just need to make sure I can comfortably fit with how tall I am.

 

[riverroyal]

Lease. I got a guy. Don't lease tell we talk. Check messagea

 

[Dan Lorenze]

Not to be a Tesla homo.. But give me one good reason to buy a Mexico Made Ford Mach E over the most American Made cars on the road with the biggest charging infrastructure in the world..

Let's hear it.....

 

[riverroyal]

I can answer that..
Ever seen a tesla after a crash. Or fit and finish prior?
Mexico or not the E mach smokes the tesla in quality

 

[Todd Mohr]

Not to be a Tesla homo.. But give me one good reason to buy a Mexico Made Ford Mach E over the most American Made cars on the road with the biggest charging infrastructure in then world..

Let's hear it

Build Quality

 

[BeerMaker]

Not to be a Tesla homo.. But give me one good reason to buy a Mexico Made Ford Mach E over the most American Made cars on the road with the biggest charging infrastructure in then world..

Let's hear it.....

Ford can now use that same Tesla charging network. The Ford actually has better build quality imo. And most important to me, the Model Y is more popular than a Honda civic in my area! Lol. Just wanted somehting a bit different.

 

[attitude]

I looked up the Acura as I don’t think I’ve seen one, I really like what they have been doing with the A Spec styling.

However, this is why people lease EVs.

 

[Dan Lorenze]

Build Quality

They have gotten A LOT better in recent years...

 

[Todd Mohr]

They are not horrible by any means, but they are not the only game anymore. Tesla is opening their chargers to GM and Honda/Acura in 2025.

 

[Todd Mohr]

However, this is why people lease EVs.

You are 100% correct, protects you from a potential big hit.

 

[Dan Lorenze]

I can answer that..
Ever seen a tesla after a crash. Or fit and finish prior?
Mexico or not the E mach smokes the tesla in quality

The Tesla Model Y is at the top of the list when it comes to safety...

Tesla Model Y secures 2024 IIHS TOP SAFETY PICK+ award

A total of 22 vehicles qualified for the IIHS' highest safety designation, TOP SAFETY PICK+. One of these was the Tesla Model Y crossover.

www.teslarati.com

 

[socal0487]

The new GMC 1500 is a really good looking truck. Claims a range of 440 miles

 

[napanutt]

I just leased a a plug in hybrid so I could get the $7500 federal rebate, from what I’ve seen electric cars have terrible resale value.

I’d compare the lease terms to how much current used Mach Es have depreciated.

Never have understood why people are so concerned about resale value. I buy a vehicle planning on keeping it way after it's paid off. Had an 05 BMW, bought brand new. Sold it a few years ago to a coworker before we moved. That's 10 plus years of no 500+ a month car payment. Sure, I had a few $1000 repair bills but sure beats $6000+ a year in car payments.
Hell, still have my 02 Silverado that I bought brand new. Granted, it only has 140,000 miles but that's another 15 years of no payment.

Not to be a Tesla homo.. But give me one good reason to buy a Mexico Made Ford Mach E over the most American Made cars on the road with the biggest charging infrastructure in then world..

Let's hear it.....

I love our Tesla. And I'm also not a Tesla homo.
As stated above regarding resale value, if the battery degrades enough to where it's not usable I'll definitely entertain replacing the battery pack before I buy a new car.

 

[Bowtiepower00]

If yearly mileage restrictions aren’t a limitation, Leasing will be the better deal.

If you plan on using the charging infrastructure, Tesla all the way. Tesla is opening *some* of its chargers to other makes, but is keeping some of its busy chargers Tesla only. There are also some issues, such as model of supercharger, charging port location, and cord length that prevent other models from using Tesla chargers. I would not purchase an EV with the intent of charging away from home except on longer drives. The non Tesla charging network is hit or miss- but support in California should be fine.

Fit and finish on my model 3 is excellent- easily on par with most makes- and as good or better than any Ford I’ve been in.

The Honda/ Acura EV offerings are really nice, and definitely worth a look. I believe they are based on the GM ultium platform. I would not want a Mach-e.

 

[attitude]

Never have understood why people are so concerned about resale value. I buy a vehicle planning on keeping it way after it's paid off. Had an 05 BMW, bought brand new. Sold it a few years ago to a coworker before we moved. That's 10 plus years of no 500+ a month car payment. Sure, I had a few $1000 repair bills but sure beats $6000+ a year in car payments.
Hell, still have my 02 Silverado that I bought brand new. Granted, it only has 140,000 miles but that's another 15 years of no payment.


I love our Tesla. And I'm also not a Tesla homo.
As stated above regarding resale value, if the battery degrades enough to where it's not usable I'll definitely entertain replacing the battery pack before I buy a new car.

Not everyone has the same needs or wants from a vehicle. I’ve had my Ram for almost 10 years but that’s not my family hauler.

What drove me to lease a vehicle was my Yukon that cost me $28,000 to own over the course of 3 years and 27k miles.

I couldn’t afford anything I would want to keep long term at this point in my life. Knowing whatever I bought would be sold in the next 2-3 years along with sky high interest rates and a tanking economy, nothing will have a good resale.

Also, unless you have money to burn, resale should always be considered because the vehicle will be sold eventually…

 

[TimeBandit]

The VIN fast from Vietnam has a super cheap lease right now like 199 a month.

I bought my wife a new VW ID 4 last year and it already dropped about 50% in value. I actually leased it and bought out the lease 3 weeks later to get the tax credit up front.

The Honda version EV I think leases for $299 now.

The Acura has more bells and whistles I would assume but the Honda has plenty for most folks.

Both are basically Chevrolets aka "badge engineering"

If you charge it at home with solar, EV 's rock.

If you pay Edison like I do not so much.

Shop the various manufacturer websites to see what the good lease deals are including the Ford you're interested in.

 

[Done-it-again]

Don’t put money down on a lease either. Zero down. If the car is totaled for any reason you are out the money.

 

[Angler]

I put $500 down on the only I ever leased. Never put a big down payment as mentioned above.

 

[TimeBandit]

Don’t put money down on a lease either. Zero down. If the car is totaled for any reason you are out the money.

I leased a Toyota for my daughter when she graduated college. It got totaled 18 months later and Toyota sent me a check after the insurance settlement.

I guess it depends what the vehicle is worth?

 

[pronstar]

Never have understood why people are so concerned about resale value. I buy a vehicle planning on keeping it way after it's paid off.

I tend to buy CPO so I love good cars that depreciate

 

[Done-it-again]

I leased a Toyota for my daughter when she graduated college. It got totaled 18 months later and Toyota sent me a check after the insurance settlement.

I guess it depends what the vehicle is worth?

Not sure why. Leases are based on the residual value at the end of a lease. Perhaps you got lucky.

With BMW you can do somthing called security deposits vs cash up front to lower the monthly. These security deposit will be returned at the end of the lease or transfer to a new one or returned incase of a total.

 

[rrrr]

Not to be a Tesla homo.. But give me one good reason to buy a Mexico Made Ford Mach E over the most American Made cars on the road with the biggest charging infrastructure in the world..

Let's hear it.....

In addition to the fit, finish, and crash damage repair issues, they're completely outdated in cosmetics. The Model 3 looks like a duck billed platypus from the front, the other two aren't much better.

A redesign of the fleet would cost several hundred million dollars, exacerbated by the requirement the large primary internal structure made from three pieces that the body panels are attached to must be reengineered for required NHTSA rigidity and crash survivability considerations. The jigs and robotic machinery located in the California, Texas, Germany and China factories would have to be rebuilt and reprogrammed.

Crashworthiness | NHTSA

www.nhtsa.gov

The weight of the 1,800 lb battery and motors spanning the entire area of the wheelbase creates an entirely different engineering challenge over a 2 liter gasoline engine and front wheel drivetrain in a conventional vehicle.

Notice this discussion is totally absent from Tesla's public comments and SEC documentation. The press also has a curious lack of interest in the subject. In light of Tesla's declining sales and profitability, obvious conclusions must be entertained.

 

[Romans9]

I don’t know what to say @BeerMaker, I try to read your posts and respond with a helpful tidbit but something keeps happening I have to keep reading over and over and over and over but I still have can’t remember what you actually posted.…….

 

[Dan Lorenze]

In addition to the fit, finish, and crash damage repair issues, they're completely outdated in cosmetics. The Model 3 looks like a duck billed platypus from the front, the other two aren't much better.

A redesign of the fleet would cost several hundred million dollars, exacerbated by the requirement the large primary internal structure made from three pieces that the body panels are attached to must be reengineered for required NHTSA rigidity and crash survivability considerations. The jigs and robotic machinery located in the California, Texas, Germany and China factories would have to be rebuilt and reprogrammed.

Crashworthiness | NHTSA

www.nhtsa.gov

The weight of the 1,800 lb battery and motors spanning the entire area of the wheelbase creates an entirely different engineering challenge over a 2 liter gasoline engine and front wheel drivetrain in a conventional vehicle.

Notice this discussion is totally absent from Tesla's public comments and SEC documentation. The press also has a curious lack of interest in the subject. In light of Tesla's declining sales and profitability, obvious conclusions must be entertained.

Outside of your personal opinions on the Tesla product line, just remember Tesla absolutely demolishes the competition in sales.. It's not even close...

 

[rrrr]

Outside of your personal opinions on the Tesla product line, just remember Tesla absolutely demolishes the competition in sales.. It's not even close...

You wanted reasons not to buy one. Fit, finish, and repair issues are widely discussed. Tesla's sales haven't met the predictions of management or analysts. These aren't personal opinions, the falling stock price in 2024 reflects those problems.

The decade old designs of the cars are absolutely a legitimate reason why consumers would look elsewhere. Offerings by Lexus and others are better.

Yer being a Tesla homo.

 

[Orange Juice]

I'm embarrassed to admit that I'm going to be crossing over to the dark side and picking up my first EV. Looking at grabbing a Ford mach e as a daily. Does it make more sense financially to go with the 0% interest for 72 months with Ford credit or lease and take advantage of the $7500 customer cash?

I put 33k miles on my car a year, lease don’t work here. I usually take 3 years 0% interest. I end up with a $12-$17k trade in when the payments stop.

 

[Good Stuff]

My buddy just leased the Kia EV6 Line AWD and they knocked almost $20k off for his lease. $500/mo and $20k buy out at the end of the lease on a 2 year. Honestly not a bad deal depending on the rate at the end of the lease for the purchase. It isn’t his only car so he will most likely be ok on the mileage since he does big trips with his truck and a 5th wheel. Has me thinking about going for it and not paying for fuel myself. It’s comfortable and handles really well. We both drive like assholes and he already wishes he got the GT version rated at over 500 hp but wouldn’t have gotten the same incentives.

 

[Sportin' Wood]

Never have understood why people are so concerned about resale value. I buy a vehicle planning on keeping it way after it's paid off. Had an 05 BMW, bought brand new. Sold it a few years ago to a coworker before we moved. That's 10 plus years of no 500+ a month car payment. Sure, I had a few $1000 repair bills but sure beats $6000+ a year in car payments.
Hell, still have my 02 Silverado that I bought brand new. Granted, it only has 140,000 miles but that's another 15 years of no payment.


I love our Tesla. And I'm also not a Tesla homo.
As stated above regarding resale value, if the battery degrades enough to where it's not usable I'll definitely entertain replacing the battery pack before I buy a new car.

You'll own nothing and be happy - Wikipedia

en.wikipedia.org

 

[Done-it-again]

Also with leases you know need to know what the MF rate they are charging you.

The dealers play with this number and higher the # the more you are paying per month

 

[Dan Lorenze]

You wanted reasons not to buy one. Fit, finish, and repair issues are widely discussed. Tesla's sales haven't met the predictions of management or analysts. These aren't personal opinions, the falling stock price in 2024 reflects those problems.

The decade old designs of the cars are absolutely a legitimate reason why consumers would look elsewhere. Offerings by Lexus and others are better.

Yer being a Tesla homo.

LOF, I mean rrrr. Tesla is the richest car manufacture in the world, by far. They're doing ok... And their owner, the richest guy in the world, he's doing alright too. There's prolly 10 people in the world not buying a Tesla product because they're worried about Tesla stock.

Buy American... Support American jobs on our soil. Hate unions? Support Tesla... Are you Conservative? Support Elon Musk.. Are you a communist? Go buy a Mexico Mustang. lol

 

[napanutt]

LOF, I mean rrrr.

Are you a communist? Go buy a Mexico Mustang. lol

 

[TBulger]

Anybody understand the Hummer situation, sure would love one, but don’t understand them enough to buy one.
I bought a Leaf in 2012, was told 100 miles but best I ever got was around 60, kept it like new and sold in 2018 for 3k.
The Hummer is 125k, think it will be the same with resale and any idea on mileage before needing charge? I drive a lot so lease probably won’t work.
I’ve never understood leasing enough to know when I’m getting fleeced. Any thoughts would be appreciated. Not trying to overrun Beermaker as it’s same topic, leasing.

 

[Taboma]

Not to be a Tesla homo.. But give me one good reason to buy a Mexico Made Ford Mach E over the most American Made cars on the road with the biggest charging infrastructure in the world..

Let's hear it.....

My son's Tesla 3 left me cold, far to plain, austere and digital for my liking.
On the other hand I enjoyed the hell out of driving a Mach e GT, appreciated more analog style functions still available, in addition to it looking so much better.
The only Tesla I like the looks of is a high end model S, and mostly because it's got an ass that reminds me of an Aston Martin, the rest of the lineup ranges from blah to the ugly snail-like looking X and Y.
If I were to even remotely consider an EV, which I have no real use for, it would be a Caddy Lyriq, mostly based on the appearance. I understand the Acura is using the same GM Ultium platform as the Lyriq.

The best cars I've ever owned were unfortunately not built in America, I wish it were otherwise.
No doubt Tesla has the best charging infrastructure we've all subsidized whether we own an EV or not.

 

[TimeBandit]

Once you own an EV you understand the value of the Tesla charging Network.

Prior to 2021 they built it out without government subsidy. Now that they've accepted government money they will open the charging Network to other brands... Albeit slowly.

Elon's vision and building the charging Network pretty much set the groundwork for everyone being able to have an EV... Or at least one you can charge somewhere besides your own home.

 

[Sportin' Wood]

Buy American... Support American jobs on our soil. Hate unions? Support Tesla... Are you Conservative? Support Elon Musk.. Are you a communist? Go buy a Mexico Mustang. lol

10 years ago this might seem like a crazy statement. My how things change.

 

[Taboma]

Once you own an EV you understand the value of the Tesla charging Network.

Prior to 2021 they built it out without government subsidy. Now that they've accepted government money they will open the charging Network to other brands... Albeit slowly.

Elon's vision and building the charging Network pretty much set the groundwork for everyone being able to have an EV... Or at least one you can charge somewhere besides your own home.

I'm admittedly Anti-EV.
Not the concept, I think EV's certainly have their advantages and disadvantages.
What I strongly object to, is forcing the extinction of fossil fueled power under the guise of "Saving the Planet".

If the concept and technology would have been allowed to evolve on it's own merits, then fine.
Following that strategy, the product, charging infrastructure and power grid evolution to support it, could have grown in a more uniform manner based on a slow evolving demand basis and my tax dollars could have been used more wisely.

This entire EV evolution is being shoved up our collective taxpaying asses, by being either directly or indirectly subsidized on state and federal levels, as we throw dollars at fixing "Climate Change". Tesla made 9 billion selling it's regulatory incentive "Awards" to pay for the penalties of other companies lack of compliance.
Seems like an indirect subsidy to me.

This is not "Freedom of Choice" based on desire fueled demand, it's a forced government mandate being sold under the guise of " Saving the Planet". This may appear to be voluntary, but when you can no longer buy boat fuel, you'll realize it's anything but.
Thankfully, I'm old and not my problem, guess my grandkids will have to sail, paddle or look for on the water charging stations if they want to go boating in the future.

I don't personally like anything about Elon's vision, it's completely contrary to my own.

 

[rrrr]

LOF, I mean rrrr. Tesla is the richest car manufacture in the world, by far. They're doing ok... And their owner, the richest guy in the world, he's doing alright too. There's prolly 10 people in the world not buying a Tesla product because they're worried about Tesla stock.

Buy American... Support American jobs on our soil. Hate unions? Support Tesla... Are you Conservative? Support Elon Musk.. Are you a communist? Go buy a Mexico Mustang. lol

Jesus, dude. You asked for reasons not to buy a Tesla. I gave a few, and they're legitimate.

Did I hurt your feelings or something? The insults are a little over the top, and you're definitely being a Tesla homo.

 

[BeerMaker]

My buddy just leased the Kia EV6 Line AWD and they knocked almost $20k off for his lease. $500/mo and $20k buy out at the end of the lease on a 2 year. Honestly not a bad deal depending on the rate at the end of the lease for the purchase. It isn’t his only car so he will most likely be ok on the mileage since he does big trips with his truck and a 5th wheel. Has me thinking about going for it and not paying for fuel myself. It’s comfortable and handles really well. We both drive like assholes and he already wishes he got the GT version rated at over 500 hp but wouldn’t have gotten the same incentives.

That's what I'm doing. Sold my BMW 550i m but keeping my Tundra. Will drive the EV local/daily. Take the truck on long trips/off road/camping etc.

 

[Jefftowz]

Say what you will about Tesla, we had a Y and the lease was up a few months ago and have been looking for something. Today leased a Model 3, long range for $3k down and under $500 a month. Best deal out there.

 

[rivermobster]

Anybody understand the Hummer situation, sure would love one, but don’t understand them enough to buy one.

 

[NIKAL]

Never have understood why people are so concerned about resale value. I buy a vehicle planning on keeping it way after it's paid off. Had an 05 BMW, bought brand new. Sold it a few years ago to a coworker before we moved. That's 10 plus years of no 500+ a month car payment. Sure, I had a few $1000 repair bills but sure beats $6000+ a year in car payments.
Hell, still have my 02 Silverado that I bought brand new. Granted, it only has 140,000 miles but that's another 15 years of no payment.


I love our Tesla. And I'm also not a Tesla homo.
As stated above regarding resale value, if the battery degrades enough to where it's not usable I'll definitely entertain replacing the battery pack before I buy a new car.

I too am a buy and keep forever guy too. But in the case of the EV I think the biggest concern is the resale sucks because the cost to replace a battery, which in many EV’s the battery life is 100K-150K. No one is buying a used EV with 100K on it. But people will buy a gas car with a 100K on it. My Silverado had 300K miles when I had the engine pulled & rebuilt for under $6K, and the truck still ran fine, but the timing was right to refreshen it up. Looking it up the Tesla replacement battery is around $20K. The Mach E replacement battery is said to be $36K, the Kia EV6 battery is $29K and the Chevy Bolt is around $18-19K. Those prices make it pretty hard to justify buying used EV or buying a new replacement battery.

 

[Dan Lorenze]

I'm admittedly Anti-EV.
Not the concept, I think EV's certainly have their advantages and disadvantages.
What I strongly object to, is forcing the extinction of fossil fueled power under the guise of "Saving the Planet".

If the concept and technology would have been allowed to evolve on it's own merits, then fine.
Following that strategy, the product, charging infrastructure and power grid evolution to support it, could have grown in a more uniform manner based on a slow evolving demand basis and my tax dollars could have been used more wisely.

This entire EV evolution is being shoved up our collective taxpaying asses, by being either directly or indirectly subsidized on state and federal levels, as we throw dollars at fixing "Climate Change". Tesla made 9 billion selling it's regulatory incentive "Awards" to pay for the penalties of other companies lack of compliance.
Seems like an indirect subsidy to me.

This is not "Freedom of Choice" based on desire fueled demand, it's a forced government mandate being sold under the guise of " Saving the Planet". This may appear to be voluntary, but when you can no longer buy boat fuel, you'll realize it's anything but.
Thankfully, I'm old and not my problem, guess my grandkids will have to sail, paddle or look for on the water charging stations if they want to go boating in the future.

I don't personally like anything about Elon's vision, it's completely contrary to my own.

Jesus, dude. You asked for reasons not to buy a Tesla. I gave a few, and they're legitimate.

Did I hurt your feelings or something? The insults are a little over the top, and you're definitely being a Tesla homo.

Not at all.. That’s just my humor.. LOF and I used to go at it all the time. Don’t take it personal. I don’t take it personal when you call me a homo. It’s all in good fun coming from a good place.

 

[COCA COLA COWBOY]

LOF, I mean rrrr. Tesla is the richest car manufacture in the world, by far. They're doing ok... And their owner, the richest guy in the world, he's doing alright too. There's prolly 10 people in the world not buying a Tesla product because they're worried about Tesla stock.

Buy American... Support American jobs on our soil. Hate unions? Support Tesla... Are you Conservative? Support Elon Musk.. Are you a communist? Go buy a Mexico Mustang. lol

Well said

 

[rrrr]

Not at all.. That’s just my humor.. LOF and I used to go at it all the time. Don’t take it personal. I don’t take it personal when you call me a homo. It’s all in good fun coming from a good place.

OK, we're good. My detection meter was malfunctioning. Since LOF had his issues with some posters, I didn't know how to interpret your reference.