Tesla Model 3 Lease Hits Lowest Price Yet! Should We Get One?

Episode 362: Join Francie and Jordan as they walk through the new Tesla Model 3 lease deal. Should Jordan lease this electric vehicle? They walk through his decision making, the Tesla EV configurator, other EV lease options like Kia, Hyundai, and VW, and more! What do you think they should do?
Sources used to support today's show: www.tesla.com/model3
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#teslamodel3 #electricvehicle #lease

[@williamposton3504]

Francie is an excellent moderator.

[@sparkysho-ze7nm]

109%🔥🏆👍

[@BMWI35433]

Absolutely 💯

[@sparkysho-ze7nm]

Jordan an FRANCIE make th greatest podcast of all

[@robert5008]

I have a 2022 M3 LFP real world local traffic is 200 miles. Love the charging to 100% and road trips are so easy and fast charging. You can't go wrong with the Highland.

[@berthogendoorn2133]

White is cool in the summer sun, so better range.

[@Iangamebr]

One thing people don't consider at all for some reason is that the Model 3 is one of the safest cars in the entire world, within top 5. You really do need to try and be doing dumb stuff to die inside of one of those. If you go with a cheap city car EV like a leaf, a F350 will roll over you and the guy won't even notice you were there.

[@xxMegabeast35xx]

My 2023 LFP Model 3 is wonderful!!

[@delenius1]

These lease deals are so deceptive. When I put 0 down and include taxes and fees, on the cheapest model 3, I get $437/mo, and still $2464 due at signing.😮

[@Cyrribrae]

Is it the same lease period?

[@delenius1]

@@Cyrribrae yes. You can try it for yourself.

[@normt430]

Polestar 2 dual motor was about $299/$1,000.

[@delenius1]

@@normt430 nope, same issue there. When I select 0 down and 36mo, and taxes and fees included, I end up with 546/mo and 1324 due at signing. This is in ca btw, but try their lease calculator…

[@normt430]

@@delenius1 then they are absorbing some of the costs or they are not showing lease disposition fee for return. If you can find a used EV you like that is two calendar years old at less than half it's original value plus $4,000 off your taxes it us a better deal.

[@WestCoastChicano]

Man, get the new performance. Have Out of Spec Studios go halfers with you. That should keep you within your budget. Kyle will probably drive it more than you anyway lol. He'll also take it to the nearest track on day one as well. Gr8 vid as usual, guys. 🚗🇺🇸🔌⚡

[@claircaldwell7214]

Another great episode!

[@NIAtoolkit]

The lease has always been $299/month, it’s still $299/month. The marketing department is being deceptive with “estimated savings”

[@GregWaszkiewicz]

I leased the new model 3 RWD about 3 months ago and Jordan you are spot on, comparing base models of competition which I was considering Ioniq5/EV6 or Mach-E and they are missing a lot of equipment that the base model 3 has. So even though I wanted something different than Tesla as I already have a Model Y in garage Model 3 was just the best choice. The biggest worry I had before ordering it was also the sound system as I was not impressed with the last year base model 3 but I was pleasantly surprised and it is a big step up from the previous model 3, still not as good as Model Y LR but good enough. Power of the car was also a bit of a sacrifice for me but 95% of situations around the city it is good enough so the extra cost of performance model on a daily basis is just not worth it for me. Plus at least it is RWD which is more fun, just wish there was a way to disable traction control without investing in SEXY buttons.

[@GridConnections]

Yeah test drove a new one last month and was really impressed. Thought the ride and NVH was so good, that I asked to test drive a Model S and thought that the 3 rode better. Sitting in it and driving around it reminded me of the first time I drove a 3 Series BMW. Just a clear difference of what you get and especially what is available in that price range.

[@dennisknehans3206]

I Love the stalkless set up better! It great after you practice it a little.

[@justinschultz4325]

I'm sure you're already aware. Polestar is giving a $10K discount. An extra $2K if you're a Costco member. I just got a base single motor RWD.

[@typxxilps]

19:32 - LFP completely full is no issue, but you will face a lot when you need to charge quickly without preconditioning cause in cold weather those are close to dead . At 0°C forget about charging. And the 0 to 80% charging is no lonver valid cause the NCM batteries have a bigger buffer if you compare net to gross capacity. Usually 5 kWh of buffer compared to about 1 kWh. And this buffer difference is representative for the different SOC they have told in the past. LFP is heavier and is usefull for buyers only cause they can benefit from the longer lasting battery which comes with 3000 cycles compared to 600 . Usually NCM has a higher charge and discharge rate, therefore faster acceleration. If you lease do not go for LFP at least if you do not live in a warm winter climate like California or Phoenix or Florida.

[@user--PM]

i would be very interested if we can add the LR sub to the RWD, i have tried looking into this but struck out.

[@LarryRichelli]

If you live in Colorado and don't get an all wheel drive vehicle you are kind of crazy. Also paying extra for bland white is also crazy. White looks so cheap!

[@AA-yw1nh]

The snow melts after 1 day.

[@justinschultz4325]

Winter tires

[@777Outrigger]

My daughter's 2002 FWD Volvo V70 with an early version of STC did great in the Colorado snow with snow tires. I'm sure a RWD Tesla would be even better.

[@Lost_In_LA]

I could care less if the charge limit is software limited to 80% vs 100%. I could live with it for 50% for all I care-I'm not going to push that limit on a typical daily drive. So I don't see the bragging rights for charging to 100%. No one charges to 100% for long road trip stops. The audio is a big one for me. Two subs and an additional amplifier is attractive. If the additional speakers are tuned for different ranges, that's all the more tempting. And the black Alcatera on the LR and Performance is great.

[@berthogendoorn2133]

Love to see the 10% challenge on the RWD LFP Model 3.

[@dmunro9076]

It's been done with a 2023 RWD, IIRC.

[@jameshetfield5894]

How is the single motor in the snow? Obviously not as good an AWD but is it terrible?

[@vhol93]

22:48 yesssssss!

[@swatkin3]

I recently got a smokin good deal on an Ioniq 6. Definitely better than the old Model 3…not sure about the highland version

[@Lynyrd_Evnyrd]

What you guys really need to do is get Francie some Level 2 charging!

[@Kaiyening]

I’m very excited about Jordan getting the base Model 3! He has very similar observations to mine when it comes to the purchase. Too bad I’m in Canada and not the US lol Also, Francie is, as always, sharp and on point!

[@karlengle]

If you lease, the 7,500 comes into play regardless of model 3 version.

[@normt430]

That's if Tesla is not holding the tax credit back from customers.

[@James_Ryan]

Get that puppy ordered already! 😄

[@omarastacio3939]

My only problem with Tesla lease is the inability to Purchase at the end of the term. Both because you don't have any value that you could potentially use towards a new lease or the ability to own it outright if the residual value is favorable at the time. These prices are still amazing as I have a larger payment with my "purchase" and if I sell it now I would have to pay someone to take it. So definitely a good deal as long as you know it up front. But with Colorado incentives, go for the performance. You would probably force Kyle to get a Taycan :)

[@PeaceChanel]

Thank You for All that you are doing for our Planet Earth.... Peace.. Shalom.. Salam.. Namaste 🙏🏻 😊 ✌ ☮ ❤ 🕊

[@phillyphil1513]

Jordie's option A: Porsche Taycan GT (Weissach Pack) or option B: Nikola Tre Semi (Day Cab).

[@beautyofgrace3915]

Just got a 2018 Chevy Volt, simply a great car. Chevy was ahead of their time, very well made, drives as smooth as butter.

[@Gazer75]

Leasing seem like a more expensive option to me. How do you calculate this vs taking out a loan on the car to buy it? I can't find the buyout price on many leases so you have no idea what the full cost will be if you keep it.

[@Molishious]

I've never leased but I've looked into it a little and I contacted two dealerships about leasing an Ioniq 5 about a year ago. They both gave me a full list of all of the charges including the "residual value". I was focused on that as I wanted to buy the car and then pay it off and at the time they were only offering the $ 7500 off for leases. I found that in one case I broke even and the other was a little more when comparing to just buying for full price.

[@osl77]

I ❤️ Francie!

[@Pekirt79]

I'd get an AWD EV6 with ventilated seats for around the same price, plus there's lots more room and storage.

[@kwsrchoudhury]

How does a lease look for someone that lives in NJ?

[@sirgardensalot]

Questions to ask when leasing What is the selling price to the leasing company What is the discounted price of the vehicle to the lease company going to be No money down zero you want to roll in all the fees into the monthly lease payment What is the money factor What's the Buy rate on the money factor What is your markup on the lease acquisition fee can it be called the bank fee or orientation fee

[@normt430]

Yes, the leasing fees on a short term lease do not make financial sense.

[@theoffice4951]

Only get it if you want more problems charging in winter time. Or if you like tinkering and figuring you things out.

[@boomerbits2297]

The lease on my Bolt is up in 11 months. Buyout is much higher than current residual value so back it goes. Was hoping for the new Bolt to be out in time but it doesn’t look good. All Teslas are out of my budget so unless I can score some really good incentives it on to the used market next Spring. Love our Bolt, charge 99% of the time so dcfc speed isn’t all that important to us

[@nathanbrumbaugh8545]

No question that bolt is the one most people could afford much more affordable and a great car! I am a bolt owner 5 at the moment for different family members. There’s no way model three is in the same economical playing field. Just love the bolt for the economy and also love the car!

[@justinschultz4325]

Have you considered buying a different two year old Bolt after turning in the lease? You'd qualify for the tax credit.

[@boomerbits2297]

A used Bolt is certainly on our list. While I would like faster dcfc, as stated we so seldom dcfc that its a minor issue. In fact I looked at a 23 EUv at my local dealer a week or so just out of curiosity mi believe they are asking 21k for it, EUV redline. Nice car. Hopefully we can find something like that in early 25 Maybe have some time left on the 3/36 warranty At 75 years old the next one could be mu last one! We have gone from an F 150 to a Volt and from the Volt to a Bolt. Our only concern with a BEV is charging if we have to evacuate from a hurricane or lose power for an extended period of time. In 2004 we were without power for 21 days due to back to back hurricanes slamming into is. The odds are with us but we have bailed out before. Spent 8 years with FEMA. We dont mess around when it comes to severe storms.

[@normt430]

​@@justinschultz4325I was thinking the same. You could practically get the same car and cash in on $4,000 tax credit on a 1-owner under $25,000.

[@andrasbiro3007]

@@nathanbrumbaugh8545 The Model is in a completely different category, so of course it's more expensive. But it's dirt cheap compared to what it offers. And you can now lease it even cheaper. Is it really so out of reach?

[@LakeLake123]

I think you should order an Equinox EV 1LT FWD. That would be more unique content than the million Model 3 videos out there. MUCH cheaper than base Model 3, especially with Fed $7,500 rebate, with much more range. That’ll be the new budget range king at 319 miles est.

[@gabrieldesantis981]

Ryan already has the lfp model 3 and I feel with the lack of mechanical changes this would be redundant. Unless he’s trading in for the new performance soon then maybe you should go for the performance and have Kyle sell his performance after the comparison is done.

[@AA-yw1nh]

Ryan is redundant.

[@sparkysho-ze7nm]

@ 5 : 56 if steering holds up

[@typxxilps]

Lease is the way for manufacturers to stop discounts from increasing or lowering the MRSP. Usually leasing is a mess once you have to return the car. But the manufacturer hoped and hope to sell these better when those will return, if not then the will face serious issues as seen in europe with used EV piling up due to the boom of 2020 and 2021 in EV are now coming back and in the future even more will come back and pile faster up. So used car prices need to get deeper cuts to simply sell just a few of those in stock.

[@AhBeeDoi]

Jordan needs to add another VinFast to the OoS family. Or maybe a Fisker Ocean. They're cheap too.

[@Mu5icPr0ducer]

if you're leasing, you'll still get the tax break regardless of which Model 3 version (depending you meet the income threshold)

[@robertt1336]

I think it will be a great car. Would love tesla to change the lease agreement. Using state and federal ev incentives for a 2-3 yr lease you cannot even buy out seems a waste of resources. Killer 2-3 yr deal for person leasing though

[@woodsguykevin]

Ioniq 5 SEL is $229 24 months 12K miles a year.

[@Molishious]

This might be regional. When I go to the Hyundai website it looks like you can get a 24 month lease for $299 a month with $3500 down and 10 k a year. With excellent credit. I'm in Oregon. That's for SEL AWD.

[@david-bz1mz]

I just got an ionic 5 SEL $0 down first month lease due at signing for $269 and $269 a month

[@Molishious]

@@david-bz1mz Which state are you in?

[@david-bz1mz]

Mississippi so no extra incentives just the 7500 federal tax incentive and dealer discounted the rest to get me there

[@david-bz1mz]

2yr 12k a year lease

[@ChicagoBob123]

Lfp in winter isn't great. You can road trip the model 3. But you'll add at least 1 charge every 500 mile vs long range

[@Harrythehun]

The road trip benefit window is very narrow. How many road trips in our life is 500 miles. 99,9% does shorter or longer anyway

[@ChicagoBob123]

​@@Harrythehun I am going every month or so over 500 miles. Leaving next week and its 750 mile each way. Daily, I knock out 85 miles round trip to work. Everyone one is different.

[@Cyrribrae]

@@ChicagoBob123 but vast majority are the same and nowhere near your use case. Personally I think there's also a case for the ease of care of a LFP might be a point on its favor too, especially with frequent fast charging.

[@ChicagoBob123]

@@Cyrribrae true, lfp can be constantly charged we think. Not sure it's been around long enough to know.

[@AhBeeDoi]

There was an aftermarket subwoofer upgrade for the Model 3 but Tesla did something to sabotage it in one of their OTA upgrades.

[@ojeje1]

Hey Jordan. Will this be your car or an Out of Spec car. I am confused! 😅

[@fleecystheking]

I assume Jordan bought the Model 3 by now. Hope he’s happy with the car However, I don’t see how that is an interesting purchase for Out of Spec content. Highland or no, this would be so much less interesting than one of the e-GMP Korean cars, which you have covered way less and that are seeing sales increases year over year in a steady way (can’t say the same about Teslas unfortunately). IONIQ 5 is getting built in Georgia for its 2025 model year refresh starting in a few months. Supercharger access is happening at the end of 2024 too!

[@urbanstrencan]

My choice would be Polestar 2 😊❤

[@BuRNingFLaN]

Tesla should allow true 0 due at signing leases🎉

[@guythall]

Keep in mind that ALL Tesla models can get the IRA $7,500 tax credit when leasing.

[@DS-mz7dy]

All you need is a Gen 2 Volt! All the electric you need and just keep going on a road trip.

[@andrasbiro3007]

That's old, and outdated, and a hybrid.

[@TuneupMagic]

Currently, Tesla doesn't provide a copy of their lease agreement for review before ordering a vehicle. The $250 order fee is non-refundable!

[@scottgregory2059]

your colorado tax credit will lower your colorado income tax obligation by 5k.... meaning that if your tax refund without the EV purchase (lease) is 0$, you will get $5k refund with the EV purchase (lease)... if your EV

[@gregpochet4812]

What one thing that is not discussed is the increase in car insurance on leases. Most companies require high levels of insurance, increasing the monthly cost of leasing a car. Also, limiting the amount of miles on leases is a hard pass for me. I don't want to be told how far to drive. Its like renting an apartment and have to choose how many days you are going to live there per year.

[@Cyrribrae]

Not really a good analogy. It's like renting an apartment for 9 months out of the year and then if you want more days, you add those on. If you agree on the initial terms and you think it's worth the cost of those terms, there's nothing wrong with that. Just like there's nothing wrong with buying your car outright.

[@Mu5icPr0ducer]

Per Tesla, There are minimum coverage requirements unless you’re subject to state-specific terms. These requirements include: $50,000 for property damage $100,000 for bodily injuries to any one person $300,000 for any one accident Physical damage insurance for full value of vehicle Maximum deductible: $2,500 you should have at least this coverage should have anyway even if you don't lease, and especially if you have assets, like a house. also, you can go over the miles. it's like 10-25 cents a mile for every mile you go over, so if you go over by 1000 miles at a rate of 10 cents, that's just $100 extra you have to pay at the end of the lease, not a big deal, and that may be waived if you buy/lease another car from the same dealer. So it's worth it for the lower payment.

[@georgepelton5645]

Jordan leasing a vehicle, with NO OPTION TO BUY at the end of the lease, and he considers spending $$$ to wrap it, and $$ for optional color, aftermarket sub-woofer, etc. He must not like money much. 😀

[@sirgardensalot]

Hyundai ioniq 6 SE $189 a month

[@justinschultz4325]

I can't lease a Tesla in Wisconsin.

[@mike168168]

If you’re gonna use your car to do company videos, ask the company to pay for it. Also keep your Miata and you can treat the new one as business vehicle and get the tax write offs.

[@sparkysho-ze7nm]

Th other options in th ev sector from legacy auto is NOT an option

[@berthogendoorn2133]

Elon is re-hiring a portion of the great staff of the Supercharger team, so things are looking up again on the Tesla Supercharger front!

[@SilentButtDeadly15]

I would not wanna work for a person like elon, I drive a 2021 M3LR, the car is amazing the charging is "mah" but elon seems like a real asshole

[@sparkysho-ze7nm]

12 : 42 E-E-E pic

[@thenerdyarab7622]

Blazer Ev has a crazy lease deal now.

[@Nunya-lz9ey]

Possibly the worst EV available right now

[@SilentButtDeadly15]

@@Nunya-lz9ey The BZ4 is the worst. at least the blazer looks really good

[@Molishious]

@@Nunya-lz9ey Hmmm. It did get a bad start and then was pulled and the programming was updated. I haven't heard too much bad since it was released again. It has good specs. Have you heard something bad recently.

[@RobertFairweatherLuvMachine]

Tempting.

[@yeahbuddy92193911]

Just get the Tesla. Every Tesla comes standard with: over the air updates, autopilot, video games, 0-60 in 3-4 seconds, lojack built in (locate car in the app and control speed), impossible to steal with PIN code, highest NHTSA, NCAP, and ANCAP safety ratings of any vehicle ever tested, IIHS Top Safety Pick+ Award, best batteries in any EVs (best cooling system, best BMS and lowest replacement cost), remote camera viewing, sentry mode, voice commands, beta self driving, integrated dashcam, zero emissions, green light chime, bio weapon defense mode with HEPA filtration, dog mode, camp mode, romance mode, voice projection, traffic aware cruise control, lane keeping, lane departure avoidance/assist, AEB auto emergency breaking, forward collision warning, collision avoidance, obstacle aware acceleration, blind spot monitoring, speed camera trap warning, stop light warning, Tesla supercharging network, Netflix, Hulu, and youtube, full glass roof, overall cost of ownership cheaper to drive than a Corolla, almost no maintenance, convenience of charging at home, one pedal driving, amazing 17 speaker sound system with subwoofer, on demand music streaming, lightshow, self parking, frunk, 76 cubic ft of space, driver profiles, Tesla insurance, quick steering, heated steering wheel and seats, ventilated seats, summon, remote start, remote defrost, auto window close, cabin overheat protection, mobile service techs, auto charger routing, external speaker, incredible navigation system on 15" touchscreen, fart mode, costs $30 per month to drive or $0 if you have solar panels. These are all features that no gas car comes with. There's more, but simply too many features in a Tesla to list them all.

[@scottz45]

If you care about value for your money when buying an EV it is very hard to apply any logic to buying an EV other than Tesla. End of story.

[@ruftime]

$4910 due at signing🙄

[@johnpoldo8817]

Where is that LFP battery made? If China, I would not buy it.

[@berthogendoorn2133]

After having run through 1 month of the FSD version 12 supervised, I can honestly say it was tough to go back to Autopilot, FSD is that good! So yes FSD content would be great from the Out of Spec point of view!

[@leviandhiro3596]

Early Adopter = Beta Tester

[@MrProy33]

Lol. No.

[@coldtesla6212]

Yep, a Tesla, as always you guys always go tesla, they suck! and never get the range. But they are piling up all over, go get a deal and a deal is a deal.

[@ichigo19870]

No please don't support this madness. I believe Tesla now realizes that maybe cancelling the USS and the stalks and the wheel etc. wasn't the best idea. We had to live with NO EAP or FSD features for years although we paid for them with no compensation whatsoever. Instead of making the cars cheaper and cheaper, Tesla should start compensating the people that haven't received anything for their money. Until then, the next car will definitely be a different brand again.

[@shou635]

People with USS now want vision. Can get 3rd party stalks now if one truly wants them. Never buy a product if it doesn’t meet your needs at time of purchase. The autopilot software is gimped in Europe.

[@ichigo19870]

@@shou635 I would want it if it works with the USS together. If not then I will stick to the USS system. I don’t really need that grey 3D blob. I want accuracy!

[@Nunya-lz9ey]

🤡

[@Harrythehun]

Lessons learned, buy a car for what it is today, not what is promised in future. The USS is just annoying with all the beeping

[@bullshitbingo2259]

Nobody cares about the outdated Teslas. Wait 6 months and get yourself a Mercedes CLA with 800V architecture. The updated Hyundai Ioniq 5/6 and KIA EV6 are also great,. Without chinese 800V EVs in the US the customers are kinda f*cked

[@aussie2uGA]

Didn’t Mercedes just say it’s halting their EV platform?

[@bullshitbingo2259]

@@aussie2uGA No, only the fully new generation EV platform for the S-Class and E-Class for 2028, called MB.EA Large. The existing EVA2 platform used in these models will be upgraded to 800V and will get a new drivetrain and electric motor instead.

[@shou635]

Your username fits your nonsense. The model 3 was just updated and people are clamoring for the model 3 performance.

[@bullshitbingo2259]

​​​​​@@shou635 you must be mentally challenged...the "update" didn't change anything on the battery, drivetrain or motor. It still has no 800V, no augmented reality HUD, no V2L/V2G. The charging curve sucks and is quite slow nowadays, even with the "Long Range" model, which does not deserve this term. The "new Model 3" mainly added ambient lights in the cabin and low-rolling-resistance tires and changed the styling ever so slightly. Otherwise it is the same old tech. Other manufactureres wouldn't even dare to call this "new". The Mercedes CLA will have at least an estimated 391 miles EPA range (466 miles WLTP), that's a full 50 miles more than the Model 3 LR. Only gullible and naive buyers are still buying outdated Teslas.