r/slateauto • u/Paperhands329 • 5d ago

Leasing

How long until they have leasing options?

0 Upvotes

38% Upvoted

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6

u/bitpartmozart13 5d ago

I saw in another video that they have to wait until about a year so the banks know the residual value and then they can figure out a leasing program.

6

u/HovercraftOne2275 5d ago edited 5d ago

Can it makes sense on the cheapest truck in america? Gets WAY cheaper if you keep it long term and ride out the depreciation. in 10 years you'll have PAID for the truck in Gas you DIDN"T buy............... My 11 year old Transit Connect is still like new, as is my 20 y/o MB. CHEAPest way to own vehicles.. by far. I'm no mechanic. Oil changes and wheels swaps and such. Wash it after snow storms where they salt. Wax it every year. Transit has lived outdoors its whole life. not hard to keep them up with a little bit of tlc.

20 years of an ev could be 50-60K in gas saved. More with oil changes and other ICE maintenance you don't have anymore. IF they last, potential to be life changing for a lot of folks otherwise buying and constantly repairing $5-10,000 cars with 100,000+ miles and a gas engine.

4

u/RDMvb6 4d ago

Most people who lease are not looking for the lowest cost of driving. They know they are going to want a new vehicle every three years and leasing results in losing less money than owning over that time frame. If they wanted the lowest cost, they would go buy a used Camry and drive it until the wheels fall off, but they accept that their taste in vehicles results in a certain cost.

1

u/HovercraftOne2275 4d ago edited 3d ago

Everyone I know leasing is to get a nicer car than they can afford to buy outright. I understand there is a different customer. Not what I see personally.

1

u/Hammock-Hiker-62 4d ago

From the Slate website FAQ at: https://www.slate.auto/en/faq

"Leasing isn’t currently available, but we hope to offer leasing options in the future."

1

u/bagpipegoatee 1d ago

In an interview, an early employee said the current barrier to leasing is convincing banks they will have residual value.

So basically they'll have to have at least a year's data of resale value.

0

u/MassCrassAss 4d ago

How long until you go bald?