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The lease price doesn't include $695 acquisition tax, $698 Admin/Doc fee or the tag fees, which would make the initial payment closer to $2k, but only $249 a month after that. Still seems like a good deal if you want to get your feet wet in the EV market. Hopefully if it's a lemon you'd be able to get out of your lease.
I haven't leased in a few decades. I would pay those fees on any leased vehicle, wouldn't I?
I haven't leased in a few decades. I would pay those fees on any leased vehicle, wouldn't I?
Some people lease because they like to get a new car every few years and/or can write it off as a business expense. But for others it could be a lower monthly cost option to get a new car even though they don't own it when the lease runs out unless they decide to purchase it. I have a coworker in that situation right now on a Honda Accord Hybrid.
Yes those are typical fees on a lease. There's also a disposition fee at lease end to turn it back in that's around $600 or so--unless you lease another vehicle from the same brand then they waive it.
To me leasing makes sense if:
-You own an LLC and want to depreciate the vehicle against business profit
-You want to drive an EV so you can get the $7500 credit* and avoid crushing depreciation
-You cannot afford the car
-You want something new every 3 years
*There's a loophole where all EVs qualify for the $7500 EV tax credit when leased because commercial owners are not subject to the income limits, country of origin, price limits etc that you have with buying a car. Car companies typically pass on those savings to the consumer.
To give you an idea, my leased 2024 EV at 4000-odd miles is already depreciated to the residual value which is supposed to be its value after 3 years, 30,000 miles. In 6 months the vehicle has lost $25,000 in value! Not my problem though. . .
Yes those are typical fees on a lease. There's also a disposition fee at lease end to turn it back in that's around $600 or so--unless you lease another vehicle from the same brand then they waive it.
To me leasing makes sense if:
-You own an LLC and want to depreciate the vehicle against business profit
-You want to drive an EV so you can get the $7500 credit* and avoid crushing depreciation
-You cannot afford the car
-You want something new every 3 years
*There's a loophole where all EVs qualify for the $7500 EV tax credit when leased because commercial owners are not subject to the income limits, country of origin, price limits etc that you have with buying a car. Car companies typically pass on those savings to the consumer.
To give you an idea, my leased 2024 EV at 4000-odd miles is already depreciated to the residual value which is supposed to be its value after 3 years, 30,000 miles. In 6 months the vehicle has lost $25,000 in value! Not my problem though. . .
Yeah but that just goes to show that even with as much government support as the EV industry has gotten, they still can't game the system enough to overcome the economic reality. Eventually the house of cards is going to fall down. Those are big losses for any entity to take.
So, assuming 45,000 miles in 3 years.
15,000 miles over the limit = $3750.00 additional/36 months = $104/month for additional miles.
Is it not still a reasonable lease deal at $354/month?
My wife drives a 2017 CMax that just turned 23,000 miles.
I average about 10,000 miles a year, tops.
Maybe they are target marketing us?
Our cost/mile would be high on these leases.
You could just sign a 15k per yr lease instead of 10k and it would cost less than $104/mth that you would pay in arrears.
Here are calcs for the base model with 15K and 10K (with all costs all rolled up into the monthly, would be less if you paid the inception fees upfront): 15K Vinfast
The lease price doesn't include $695 acquisition tax, $698 Admin/Doc fee or the tag fees, which would make the initial payment closer to $2k, but only $249 a month after that. Still seems like a good deal if you want to get your feet wet in the EV market. Hopefully if it's a lemon you'd be able to get out of your lease.
Yes, 2 things to confirm before leasing one of these: 1) what is their loaner car process (make sure it is flexible for the inconvenience and 2) be sure to study the NC lemon law so that after some time they buy it back from you and return your money (which is what some people are praying happens for their Mercedes EQS EVs).
Also, it appears VinFast offers a pay for breakdowns feature, where if the vehicle has a defect that doesnt impact driveability they pay you $100, if it impacts driveability they pay you $300 and if the vehicle is in the shop for longer than 3 days to repair, they pay you $100/day.
I believe the NC Lemon Law is if an issue happens three times and is not fixed (could be a lot of things--doesn't need to be a safety issue) or if the car is in the shop for a total of 20 days it can be lemoned. Usually in that case the manufacturer offers to buy it back instead as it's bad for them to have a car lemoned.
Also be aware that to qualify for the NC Lemon Law you have to buy or lease the car from a North Carolina dealer.
And yes a lot of these manufacturers are going to be facing a reckoning when all these EV's come off lease and are worth half or less of expected residual values.
I believe the NC Lemon Law is if an issue happens three times and is not fixed (could be a lot of things--doesn't need to be a safety issue) or if the car is in the shop for a total of 20 days it can be lemoned. Usually in that case the manufacturer offers to buy it back instead as it's bad for them to have a car lemoned.
Also be aware that to qualify for the NC Lemon Law you have to buy or lease the car from a North Carolina dealer.
And yes a lot of these manufacturers are going to be facing a reckoning when all these EV's come off lease and are worth half or less of expected residual values.
That's similar to what happened to Hertz. Elon Musk kept dropping the price of new Tesla's trying to meet very aggressive sales targets which hurt the resale value of used Tesla's that Hertz wanted to unload from their EV inventory due to high maintenance and repair costs.
I saw a VinFast today! Green one around 4 PM in the Ten-Ten area where it crosses US-1. So Leith is moving some metal.
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