Want to lease a Tesla with option to buy? What do you want to know

Tesla is offering the option to purchase one of its electric vehicles currently on lease, under certain circumstances. Here’s how.

You’re here offers the option to lease its line of electric vehicles instead of outright purchase, but the company also offers the option to purchase a leased vehicle under certain circumstances. Leasing a vehicle is a popular way to use a new vehicle without being tied to a big car loan. Instead of buying a vehicle outright with cash or a loan, lessees don’t actually own the car they use. This provides additional flexibility in using a vehicle, as lessees have a wealth of on-lease and end-of-lease options to upgrade or return the leased car. In some cases, a leased Tesla can even be purchased during the lease or at the end of the lease.

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Leasing is perhaps the most accessible way to drive a Tesla, as various factors impacting the global supply chain, namely the COVID-19 pandemic and the Russian-Ukrainian conflict, have rendered critical components unavailable. Overall, prices have continued to rise in the technology and automotive industries, and the company’s electric vehicles are no exception. Although he’s championing a more affordable Tesla on the road, the automaker’s pricing is moving the other way. In March 2022, Tesla raised the price of its cars across its entire lineup for the second time in less than a month. The increases ranged from $2,000 to $10,000 depending on the vehicle, and the price increases made leasing a much more affordable way to drive a Tesla daily.


Related: Tesla Warns Supply Chain Issues Will Continue Through 2022

Drivers using a leased Tesla have a few options during and at the conclusion of the agreement, including upgrading the vehicle, returning the vehicle and purchasing the vehicle, according to the the society. However, not all Tesla rental cars are available for purchase. Cars rented before April 15, 2022 can be purchased during a lease in accordance with the terms of the contract, which are specified in the rental agreement. If an EV is eligible for an outright purchase, only the current lessee can make the purchase – no private individuals or third-party dealerships can make the buy-out. Teslas leased after April 15, 2022 are not eligible for purchase under any circumstances. Luckily, there’s an easy way to check a car’s eligibility and get an estimate.


How to see if a leased Tesla can be bought


Tesla Model Y

If a leased Tesla is available for purchase, drivers can begin the process in their Tesla Account or through the Tesla mobile app. Before you begin, there are a few details tenants need to prepare. It is important to ensure that the electric car meets the purchase eligibility requirements, as not all other vehicles will have the option in their corresponding Tesla Account. Additionally, the company requires confirmation of the car’s registration address before providing an estimate. Once the quote is provided, users can proceed with the purchase in their Tesla Account or mobile app.


To request a quote on the company’s website, start by logging into the Tesla Account and going to ‘Funding‘ tab. Then select ‘Manage,‘ and click the drop-down arrow that appears next to ‘Summary of the lease.‘ Then select ‘Manage the lease‘ and ‘Update the lease.’ On this page, users can start the process of buying their electric car. The mobile app offers a slightly different process for purchasing a leased vehicle. After opening the app, users need to navigate through Funding > Lease Details > Manage Lease > Update Lease > Buy a Car. As soon as the purchase is approved, You’re here will contact the user with further details and provide a complete purchase package.


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Source: Tesla Support

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