I’ve owned Teslas now (among other cars) for around five years. First up was a Model 3 Performance for two to three years and then this time around it was a base Model Y (on a novated lease to take advantage of the taxpayer funded subsidies and Fringe Benefits Tax exemptions) for two years. The Model Y’s lease is about to come to an end and it was time to figure out whether I should refinance (a terrible idea at the moment given the poor resale value and supersized interest rates) or whether I should take out another lease.
Know the news with the 7NEWS app: Download today I sat down to run through the options and was pretty shocked to see the situation I was in after just two years of a Model Y lease and I wanted to share my experience so others don’t fall for the same trap. I also wanted to share why I think the prices are going to come down even further again. When I sat down to look at what I’d replace the Model Y with, the first thought was just to get another Model Y.
It did the job for us – my wife primarily drives it and it has heaps of room inside, great tech and is cheap to operate. The only real compromises are the design (subjective, but it’s one of the most boring cars on the road) and the nasty ride that is rougher than some hardcore sports cars. I almost fell off my chair when I saw the price of our car had fallen from a peak of around $72,000 plus on-road costs to just under $56,000 before on-roads.
Barely anything has changed on the car since we bo.
