Money: Tesla Halts Lease Buyouts and Trade-ins, Adds More Costs
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Tesla Halts Lease Buyouts, Adds Costs

Tesla Model Y - Lease Only

Tesla is cashing in on the sky-high prices used electric cars are bringing these days— at the expense of their lease customers, who are no longer allowed to buy out their cars at the end of their leases.

In a rare move, Tesla has changed its policies on leased cars— which, previously, had provision for a customer to buy their car at the end of the agreed-upon lease term for a set, “residual” price— to not only prevent lessees from buying their cars at the end of the lease, but also prevents them from selling or trading their Tesla into a “third-party” dealership (read: another car brand).

The new policy took effect April 15th, but does not impact lessees who leased their cars prior to that date. And, while not even Elon Musk can alter the terms of a legal contract retroactively (not yet, anyway), it’s worth noting that any leases entered into after April 13, 2019, will now enforce lessees obligated to pay a $350 “purchase fee” if they decide to purchase their Tesla or sell or trade it prior to the end of the lease period.

 

It Just Gets Worse

Image courtesy Tesla.
 

Today’s news just gets worse and worse for Tesla customers— until now, every new Tesla bought or leased has been delivered with a Mobile Connector (above). The company’s website describes it as, “compact bundle that can charge your car from different outlets at medium to low speeds.”

With the Mobile Connector, Tesla customers could charge their EVs at home, work, or anywhere else they could find a standard 110v outlet. No more. As of April 15th, the Mobile Connector will no longer be included in the purchase price of a new Tesla. Instead, Elon Musk has announced via Twitter (below) that he will make it “easy” to order a Mobile Connector for your Tesla for “just” $200.

 
 

Uh … thanks?

This is a news site, so we try to keep opinions to a minimum— but there’s no reason why you can’t tell us what you think of Elon’s latest efforts to cash in on its customers! Scroll on down to the bottom of the page and let us know if a 36-month rental term without the option to buy at the end still works for you, in the comments.

 

SOURCES | IMAGES: TESLA, VIA CLEANTECHNICA, ELECTREK.

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AUTHOR: 

JO BORRAS (EIC)

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