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$499/Month, $4,500 down. 10K miles/year.

So MME Ford Options has a Bogie now....
 

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$499/Month, $4,500 down. 10K miles/year.

So MME Ford Options has a Bogie now....
Seems kind of high for a 36 month Model Y lease.

$6,000 payments a year X 3 = $18,000 + $4,500 = $22,500 for 30,000 miles.

And you still have to add State Sales Tax & Registration.
 

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Cheap compared to the Ford "Option Plan":

Presently for 36 months, 10,000 miles per year, X-Plan pricing and assuming a balloon of 43% of MSRP, and further putting down the Federal Tax credit of $7,500 as a "cap cost deduction", and interest rate of only 1.9%, the monthly payments come to $784 per month, or $28,224.

see: Auto Lease Calculator – Best car lease payment calculator

Tax: In New York, on a lease we are taxed on the total of the lease payments and down payment: On the Model Y, the total is $22,500: the tax at 8.625% is $1,940, total out of pocket, $24,440.

As the Ford "Option plan" is a purchase the tax is on the purchase price. Using X-Plan pricing the First Edition, MSRP $60,400. will cost $59,467. The tax will be $5,128, total out of pocket, $33,281.

Over three years that makes the First Edition $8,841 more or $245 a month more than the Model Y.

I agree with you that $499 plus $4,500 for a $49,990 car is not cheap but it is compared to a First Edition at $51,967 (X-Plan price less Federal Tax credit of $7,500) it is.

I think between now and delivery of my First Edition two things will happen:

  • Tesla present lease rate is not that attractive. Between now and the end of the year Tesla will further enhance their lease options.
  • Ford will have to alter their "Option Plan" to be more competitive
Just my $.02!



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I think between now and delivery of my First Edition two things will happen:
  • Tesla present lease rate is not that attractive. Between now and the end of the year Tesla will further enhance their lease options.
  • Ford will have to alter their "Option Plan" to be more competitive
I agree, neither the Model Y lease or Ford Option Plan look attractive to me.

If Ford offers a Financing Plan of 36 Months or longer at under 2%, I will take that and should be able to easily cover the interest expense on the loan with the $60,000 or so cost invested in the Market instead.
If they don’t, I plan on paying cash or maybe a similar low interest loan from my Credit Union.
 
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