Lease return excess wear & tear

[kort6776]

This is the problem with leasing. You are borrowing the car, so the expectation is to return it in an undamaged condition. Nothing wrong in that.

That’s why it’s less stress free to just buy the car. No need to worry about a chip or a small scratch, or mileage that you put in.

your comment is correct for some people but I will always lease an EV because of the huge depreciations that hit EVs hard. the rapid changes of the tech is also a reason to lease vs. buying.
my first tesla model S, 2013, was functionally obsolete in a year after I purchased it, my second one had the flawed 90kw battery pack and my model 3 took a 50% hit in less than 2 years of owning it. my taycan, which I leased and turned in 18 months ago is still sitting in storage, my lease Ipace took a massive depreciation hit as well. when that lease was up I was will to buy that car but the residual was almost $20k over the current value of the car.
my take away is that if you can live within the mileage constraints leasing EVs is the way to go.

 

[tonybot]

your comment is correct for some people but I will always lease an EV because of the huge depreciations that hit EVs hard. the rapid changes of the tech is also a reason to lease vs. buying.
my first tesla model S, 2013, was functionally obsolete in a year after I purchased it, my second one had the flawed 90kw battery pack and my model 3 took a 50% hit in less than 2 years of owning it. my taycan, which I leased and turned in 18 months ago is still sitting in storage, my lease Ipace took a massive depreciation hit as well. when that lease was up I was will to buy that car but the residual was almost $20k over the current value of the car.
my take away is that if you can live within the mileage constraints leasing EVs is the way to go.

I agree a 100%. That is my approach as well. At the end of the lease, I will compare market value against buyout and a make a call. I bought out ICE leases in the past when it made sense but that may not hold true for EVs due to depreciation and tech changes. Automakers like BMW let you buy additional miles at a discount any time and if unused, refund the money at lease end. I think the point of this thread is excessive charges at lease return. At present, most of the EV transactions are leases and I hope Lucid and BoFA will figure out a way to make this experience more mainstream. It will also be interesting to see how the elimination of the $7500 lease loophole impact EV leasing going forward.

 

[JGard18]

The biggest reason to lease EVs currently is the tax breaks. If you're shopping Lucid, you likely make too much money to qualify for the $7,500 tax credit if you purchase, but if you lease, you get that. It's the main reason we leased my wife's XC40 Recharge as well as my Lucid. We're almost definitely buying the Volvo once the lease is up, and I'm likely going to buy out the Lucid before its lease is over, too (because I'm about to go WAY over mileage)

 

[fisheral]

This is the problem with leasing. You are borrowing the car, so the expectation is to return it in an undamaged condition. Nothing wrong in that.

That’s why it’s less stress free to just buy the car. No need to worry about a chip or a small scratch, or mileage that you put in.

I've leased many cars and never cared about nor stressed as much over the lease return process as Lucid's.