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What's the better financial move: leasing or financing a Tesla?
Which is the better option: leasing or financing? I want to buy/finance a new Tesla, but I'm also thinking about leasing one. Any advice?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“It really depends on your preference. Both financing/buying and leasing have their advantages.
Leasing
If you’re the type of person who wants a new car every two or three years, leasing is probably the better option.
You’ll have to
put some money down
at signing, but usually all of your routine maintenance is included and your monthly car note is often lower.The biggest financial downside is that you won’t own your car once the lease term is over.
Buying
When you
buy or finance
a Tesla, you have something you own, which means you can sell it if you need cash or pay it off early to save on interest costs. Those are two things you just don’t have with a lease.
The choice is up to you, so weigh the pros and cons carefully to determine the most economical option for you.”
View full answer
- Gregory R.
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