Due to its advanced technology, futuristic design, and zero emissions, driving a Tesla is a dream come true for car lovers. For a Tesla enthusiast, buying this car may be the ultimate goal, but if you cannot afford to buy a Tesla, leasing is another option. While both have advantages, you need to consider their differences before making a decision. Visit eAutoLease.com to find out more about leasing, how the process works, and what you can do to experience the pleasures of driving this great-performing car.
Tesla is very popular these days. It is a sleek, modern, all-electric luxury vehicle with an impressive range, cutting-edge technology, and beautiful design that everyone would want to own. However, Tesla does not come cheap. A basic Model 3 costs around $48,440, not including taxes and other fees. Sadly, for many, the price tag is simply out of reach. The good thing is that if you are a car lover and want to see how driving one of the most talked about vehicles feels like, you can lease it.
Leasing a Tesla – How to Do It?
Buying a car has its benefits, but if you cannot afford it, leasing gives you a chance to drive the same car for some years. All you need to do is get ready for monthly payments and enjoy driving the car of your dreams. However, leasing a Tesla electric vehicle is different from the standard leasing process you may know something about.
There are two ways to lease a Tesla. You can design a car on Tesla’s website or browse Tesla’s existing inventory to find a vehicle near you. Designing your vehicle guarantees the Tesla will have the features you want. However, you will have to wait for that car to be assembled and delivered, which can take two months or more. If you lease a vehicle already present in Tesla’s inventory, you can get it within two weeks, but you cannot customize it.
Other Electric Car Options We Offer
Pros and Cons of Leasing a Tesla
Leasing a Tesla has its perks, but you need to find out if it is worth it. Learning the pros and cons of Tesla will help you make a better decision.
Pros of leasing a Tesla
Low monthly payments – Leasing is more affordable than loans. It means you can get a Tesla for a lower monthly payment than you would by buying it. Make sure to check out the monthly payments and the interest rate you will be paying if you decide to lease.
Predictable cost – Tesla offers fixed-rate financing on lease vehicles. It means the interest rate remains the same over the lease duration. It makes monthly payments predictable, and you know how much you will be paying for the next few years if you lease it.
Frequent upgrades – Leases have shorter-term loans, so you can upgrade to the latest model as your current lease comes to an end after three years. Also, if you decide to switch vehicle makes, you can do it easily without going through the trade-in or selling routine.
Tesla offers leasing terms between two and three years and also provides direct loans to qualifying customers. This makes it easy for the buyers to pay off loans over three to six years.
Read more: Lease Takeovers: 5 Things to Know Before You Take On Someone’s Lease
Cons of leasing a Tesla
No ownership – When you lease, you do not get vehicle ownership. Tesla does not allow drivers to purchase their vehicles once the lease ends. If you want to drive the same car for more than four years, you must buy one or look for a Tesla elsewhere.
Less customization – As the lease does not give you ownership, you do not have the liberty to make any changes to the car without prior approval from Tesla or go beyond the allotted miles, which is usually 10,000 to 15,000 miles per year. You cannot go for paint jobs or upholstery upgrades.
Expensive insurance – If you are buying a Tesla, you will require better car insurance. The average annual insurance rate for a Model 3 is about $2,115. Tesla is one of the most expensive cars to insure, and you may end up paying thousands of dollars more in insurance fees.
If you are considering leasing or buying a car, particularly Tesla, the time you spend on the road, the budget you have for car payments, as well your driving needs can help you make a smart decision. While owning a Tesla grants exclusive ownership of the car and all its features, leasing provides you with temporary access to the vehicle for a predetermined period, with limited access to certain features.
Read more: Car Leasing Guide: How to Lease a Vehicle
Find out more about the perks of leasing and how you can enjoy driving a Tesla without purchasing it at eAutoLease.com. It may seem like a lot of effort to go through the company website and place an order, but it is worth the effort if you want to experience electric vehicle technology. With professional advice and expert assistance, you can look forward to driving the vehicle of your choice successfully.
