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$500/mo on Model 3 is a good deal right? no?

ytseattleytseattle Posts: 7
edited October 17 in Tesla
On a $50,000 car if I'm getting it for 500/mo, 36 term. 10,000 mile that's a good deal right?
This monthly payment is including everything (tax, fees, etc.)

I'm not sure how they came up with $500/mo with the residual value of $34,000 and 5% APR (Money factor @ 0.002133)

Trying to make sense of this payment estimator and decide if I should lease or take a loan somewhere else with 2% APR

BTW, the federal credit for lease is embedded into the residual value. Is what they told me... not sure how I would interpret this


Comments

  • kyfdxkyfdx Posts: 134,704
    ytseattle said:

    On a $50,000 car if I'm getting it for 500/mo, 36 term. 10,000 mile that's a good deal right?
    This monthly payment is including everything (tax, fees, etc.)

    I'm not sure how they came up with $500/mo with the residual value of $34,000 and 5% APR (Money factor @ 0.002133)

    Trying to make sense of this payment estimator and decide if I should lease or take a loan somewhere else with 2% APR

    BTW, the federal credit for lease is embedded into the residual value. Is what they told me... not sure how I would interpret this


    $7570 upfront makes it more like $800/mo, all-in.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Actually the sheet and the numbers are not accurate.
    It's only $100 order fee and $3,500 down payment.
    So only $3,600 total for lease. That would probably put the monthly payment at ~$530
  • kyfdxkyfdx Posts: 134,704
    ytseattle said:

    Actually the sheet and the numbers are not accurate.
    It's only $100 order fee and $3,500 down payment.
    So only $3,600 total for lease. That would probably put the monthly payment at ~$530

    LOL.. okay.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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