Why is Tesla launching “high” and “low” lease-end purchase options?
This page is translated from the original post "Pourquoi Tesla lance des LOA “haute” et “basse” options d’achat ?" in French.
- 26/10/2024 11:43
To be even more attractive, Tesla offers two purchasing options for leasing that are more or less interesting depending on your plans.
Fasten your seatbelt, because it’s going to shake once again with Tesla’s offers. And just in case, equip yourself with a calculator and some pain relievers. If you now visit the commercial site of Tesla, you will see that the California-based manufacturer offers two scenarios for LOA (lease with purchase option): one called “High Purchase Option” and the other “Low Purchase Option.” But why?
Let’s take a simple and identical comparison base: the Tesla Model Y Propulsion for a duration of 36 months and 10,000 kilometers annually.
More rent or less money at the end?
Let’s start with the High Purchase Option LOA. This is the one that today, with a down payment of 5,780 euros (4,000 euros environmental bonus deducted), allows you to enjoy the offer at 249 euros monthly for the remaining 35 months. Thus, over the three years of renting, your Tesla Model Y Propulsion will cost you 14,495 euros.
If the (absurd) idea crossed your mind to buy the vehicle at the end of the contract, Tesla would require you to exercise the option for 31,493 euros. This leads to a total of 45,988 euros or about 5,000 euros in interest. That’s quite hefty.
In the case of the Low Purchase Option LOA, the first rent is 10 euros lower, at 5,770 euros (4,000 euros environmental bonus deducted). This is followed by 35 rents of 326 euros, making a three-year rental cost of 17,180 euros. Here, exercising the purchase option would cost 25,644 euros, leading to a final price of 42,824 euros.
There is therefore a differential of 3,164 euros between the two LOA offers, High and Low Purchase Options. Hence, before you jump in, know what you plan to do at the end of the lease. If your intention is to buy the vehicle, it makes more sense to spread out the amount with slightly higher rents each month.
Now you know.
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