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Defer vs. Cancel and re-reserve?

So here's my dilemma, and I'd appreciate any advice! My lease on my current car is up a year from today. I'm reservation #10,917, and while I want to avoid the price increase (in Texas, heated seats aren't worth $2500!), I will take a bath on my current car if the Model S is ready before August at the earliest. I suspect that I'm likely to get my time to build email in a month or two, with delivery in the March-June timeframe. Since you can no longer defer without getting hit with the price increase, is my best bet to cancel and immediately re-reserve? Is there any realistic risk that I wouldn't get the car by November? Should I point out this option to Tesla and just see if they'll let me move to the back of the line? Any better ideas?? Thanks!

I would re-reserve on December 30th to get the latest possible delivery date before the price increase.

Why not 11:55 pm on December 31st? Well, what if your power went out, or your internet connection died? Give yourself a little cushion, just in case.

Petero, I've been leasing for nearly 20 years, and have always traded in early. This usually works just fine because the dealer wants to sell you a new car and is willing to give you favorable pricing on your trade. However, in this case Infiniti had a fantastic lease special where they drove down the lease price by increasing the residual value of the car, which means what the car is worth is well less than the payoff on the lease, and will stay that way. My best option seems to be configuring as late as I can and scheduling delivery as late as I can (I do actually travel a ton, so I may be able to do that honestly!).

Ugh...invitations to configure went out again today and are now just 400 away from me. Time for a re-think...again!

riceguy;
Do not forget that you had the benefit of the special deal and lower payments throughout the lease to date. So you're "ahead of the game" to that extent. At time of leasing, you couldn't have known the S was going to appear, and change your priorities. So on the plus side of the ledger, a few years of cheap leasing, and getting the S (earlier than expected, even). The doubled cost months are a kind of "payback", perhaps.

All the best in your agonizing!

I wonder if Tesla would let us trade reservations as I have a similar issue. My lease is up in April but I'm probably looking at a ~September delivery (15,0XX). I can extend my lease until 7/1. If we switched we'd each diminish our overlap. Win/win! :)

Matt, by all means, please reach out to the ownership team and suggest that. Happy to trade if they'll let us, especially since cancel/re-reserve is a bit of a pain. Let me know here if you have any luck and we can go from there if there's any willingness from Tesla!

BrianH. You will never convince riceuguy that he is "ahead of the game." The good price was then, the high residual is now. Mr. Rice is a now and 9 months forward kind of guy. Perhaps he will take some solace in the words of Sir Henry Royce (Rolls-Royce, "The quality is remembered long after the price is forgotten."

Petero...I agree, the current car was and has been a fantastic value, and I have appreciated it (and the value) tremendously. My complaint is simply that when I reserved my Tesla I tried to time it for November delivery and it looks to be as much as 7 months ahead of the original estimate, otherwise my current car would have been a great value start to finish!

riceuguy. Isn’t it ironic. The TM forums are filled with reservation holders complaining that we can’t get our “S” fast enough…and you are sad that you are actually getting yours 4 months (+ or -) early.

We should all count our blessing that we have such visionary, good, taste and are able to afford it.… and thank you for buying an American automobile, the only 21st Century Car on the market.

I'm in the same situation as the OP, I got my "time to finalize" email yesterday, but the lease on our BMW isn't up for another 18 months.

Assuming a July delivery (reservation number 9297) I'd still be a year out from our lease ending. I calculated our remaining payments plus the residual and compared them to KBB trade-in and retail, and right now the best case scenario is a difference (in the red) of $5-6K if I sell private party. Canceling and re-reserving will pick me up a few months, but I don't know how much that would help.

Will be having a good talk with the wife tonight, lay out some options and hopefully make a decision that is wise and prudent.

Hatchel, I feel your pain. I also think July would be surprising...they are still claiming 3-4 months from the time you finalize, which would (assuming you wait the full 4 weeks to finalize) at April/May. My best guess is that there are about 10,000 folks ahead of you and 11,000 ahead of me (making some assumptions about where they slot the non-US builds). At about 400/week (they're almost there now), that's 25 weeks from now regardless of when you finalize (since that only determines where in that 25 weeks you fall). Again, that implies May (or perhaps June for me). My hope is simply that they are not as efficient as they seem to be, but every month your payoff is dropping $300 while the value only drops about $100, which puts you in the same situation as me: Every month counts!

Oh sure, I'd love my Model S tomorrow. But since I'd rather be able to afford the extended warranty, later is still better for some of us! :-)

How much more would the price increase cost you for the same package? Waiting and re-reserving and accepting the increase might cost less.

Or not. At $300/mo, the $2500 base price increase is over 8 months!


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