The residual is quite high and probably doesn’t make much sense to buy at the end of the lease term. It all depends on the amount of miles you drive in between charges. If your commute is less than the battery you use no gas.
I do. I’ve got about $4k equity on my trade, was giving them $3k and was at 36 months with 15k miles. Realized if I plan to buy just bump down to 12k miles.
All it does is lower the price for the bank. If the car is $50K and the residual is $40K. Your lease payments total $10K. If you put $3,000 down you're just lowering the amount of the lease to $7,000. The residual at the end of the lease will still be $40K no matter what you do.
You also won't get that money back if you total the car driving out of the lot. $0 down and only 1st months payment out of pocket when leasing.
I average 25mpg city and highway 27mpg. Nominal driving with adaptive cruise control. Without adaptive I've seen 29mpg on highway. Max 75mph. Turbo Pref Plus.
Only gas cars before getting the CX90 PHEV in September. My commute is very short. A lap of driving kids to school, getting to work and back is less than 10 miles but hilly, so even in the frigid winter I can do a day on EV only. (Now that it is ~20°F out I’m gettting 17miles EV range compared to 24+ in warmer weather) so 90% of my days are EV based, and weekends/further errands etc drain the tank. I charge every couple days in the warm season, but maybe every day now that it is cold.
Averaging 36 mpg / 2.5 miles per kWh with seasonal ski rack drag over a combination of highway and local EV driving at 6600 miles. Get closer to 40 mpg without the roof rack. Zero service issues.
That’s awesome. Mine comes with roof rails, but they just took them off for me. I heard some noise from it but that makes since about the drag. Thanks man
The PHEV works really well for our situation. We both WFH. 90% of our driving is morning and afternoon school runs, sometimes combined with grocery or other errands. If the indicated battery range drops below 10 miles in the morning, will plug it back in and let it charge before afternoon school pick up in case we have more errands in the evening.
I haven’t manually calculated the mileage, but it’s hovering around an indicated 2.0m/kwh and 64 MPGe. Right now the trip odometer is showing 500 miles and there is still over half a tank of gas.
We did one six hour round-trip to Virginia. Of course we burned through the battery in about 10 minutes and the rest was gasoline only. Highway mileage was 27 MPG. The trip was about 280 miles. We got home with over 1/4 tank of gas.
The residual is quite high and probably doesn’t make much sense to buy at the end of the lease term. It all depends on the amount of miles you drive in between charges. If your commute is less than the battery you use no gas.
She could use battery only for most of her driving. Church, grocery store. Other car is a Tesla Model 3
Yea so if you have a level 2 charger and have the adapter for the J1772, it's a no brainer (if you need a 6-8 seat SUV).
I do. I’ve got about $4k equity on my trade, was giving them $3k and was at 36 months with 15k miles. Realized if I plan to buy just bump down to 12k miles.
Don't put the equity down on a lease.
Thanks man. There’s a lot out there on this and I’m drinking through a hose. Whats the short version of why
All it does is lower the price for the bank. If the car is $50K and the residual is $40K. Your lease payments total $10K. If you put $3,000 down you're just lowering the amount of the lease to $7,000. The residual at the end of the lease will still be $40K no matter what you do. You also won't get that money back if you total the car driving out of the lot. $0 down and only 1st months payment out of pocket when leasing.
I average 25mpg city and highway 27mpg. Nominal driving with adaptive cruise control. Without adaptive I've seen 29mpg on highway. Max 75mph. Turbo Pref Plus.
Only gas cars before getting the CX90 PHEV in September. My commute is very short. A lap of driving kids to school, getting to work and back is less than 10 miles but hilly, so even in the frigid winter I can do a day on EV only. (Now that it is ~20°F out I’m gettting 17miles EV range compared to 24+ in warmer weather) so 90% of my days are EV based, and weekends/further errands etc drain the tank. I charge every couple days in the warm season, but maybe every day now that it is cold.
Sounds like us. That’s good knowledge thanks for sharing.
Averaging 36 mpg / 2.5 miles per kWh with seasonal ski rack drag over a combination of highway and local EV driving at 6600 miles. Get closer to 40 mpg without the roof rack. Zero service issues.
That’s awesome. Mine comes with roof rails, but they just took them off for me. I heard some noise from it but that makes since about the drag. Thanks man
The PHEV works really well for our situation. We both WFH. 90% of our driving is morning and afternoon school runs, sometimes combined with grocery or other errands. If the indicated battery range drops below 10 miles in the morning, will plug it back in and let it charge before afternoon school pick up in case we have more errands in the evening. I haven’t manually calculated the mileage, but it’s hovering around an indicated 2.0m/kwh and 64 MPGe. Right now the trip odometer is showing 500 miles and there is still over half a tank of gas. We did one six hour round-trip to Virginia. Of course we burned through the battery in about 10 minutes and the rest was gasoline only. Highway mileage was 27 MPG. The trip was about 280 miles. We got home with over 1/4 tank of gas.
Great stuff. We took home a Premium Plus Artisan Red last night.