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?
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Answered on Jul 13, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“It really depends on your preference. Both financing/buying and leasing have their advantages.
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.
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.”
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