Well despite my trepidation with the I-Pace, I did really like driving the loaner that they gave me and was planning on taking home the one that I ordered. However, after my dealer gave the the lease deals, I may have to walk away. The monthly price is about $350 more than a similarly built Model S. I can’t quite stomach that lost money over the life of the lease. They don’t seem to be able to anything from the dealers end to make it more competitive. Any suggestions?
It is financing.
I'll pick a cheap Model S which is discounted right now. Standard 270 mile range, grey, 19" base wheels, tan interior, adaptive + steering assist = $86,200. Put $10,000 down, drive 10k mi a year, and it's $985/m for 36m or $45,460 to rent a car for 3 years or 30,000 miles and pray no wear and tear fees. You do get whatever state and utility credits apply after the sale.
That's $1.50 a mile for the ~base Tesla S. (to buy it, $10,000 down, $1,184 for 72 months, and fed rebate is $3750)
Now I picked the fully loaded grey First Edition on 20" wheels. It's $87,500 because it has way more features. Say you still need to put the $10,000 down. It's $77,500. After fed credit, $70,000. 0% for 60 months it's $1167/m. But you get 5 years under warranty, 60,000 miles, and get to sell it at the end.
Why more a month? Because one is 10k miles a year, and the other is 12k miles a year.
And assuming you sell the car for $30,000 at the end (you are rough on cars and enjoy off-roading) it's ...
$0.67 a mile for the I-Pace First Edition.
Some cars have great lease deals. The I-Pace is not one of them.
To be honest, neither car is a wise financial investment. That's why I chose the I-Pace and don't regret it. I love the car, and I enjoy driving it.