leasing
- Thread starter jalfa1
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Scout would be smart to do what Genesis is doing and keeping all financial options in house
@Jamie@ScoutMotors I hope you guys are already strategizing your discussions with the upcoming White House Administration to keep the EV incentives coming in some form, and generally favorable policies to help the industry grow. I'm sure the credits will be cut/restructured but hopefully we won't lose them entirely. The EV credits have pushed automakers to move production to the US for EVs/batteries/etc. and hopefully they see the benefit to the US economy and workers. And if they want to assure that China will take over the worldwide automotive market, gutting support for EV manufacturers in the US would be a great way to start.
Note - I realize this was off-topic, but the $7,500 lease credit I received when leasing my EV6 is a primary reason I did it.
Note - I realize this was off-topic, but the $7,500 lease credit I received when leasing my EV6 is a primary reason I did it.
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Generally I don't like leases. Seen too many implode I guess. Depending on the fine print, perhaps they are attractive to people who flip cars every 3 years - I tend to go closer to 15. Likewise, I don't know if leases were a way to get around credit limitations. A lot of EV buyers have too much AGI for the credits.
I guess another issue is tech. People are thinking there will be world changing tech upgrades in 3 years... Looking at current batteries, it is easy to fall into that trap - but I bet we are closer to 2035 than 2027. CATL is one of the world leaders - and one not in current political favor in the US. They are thinking they will only be at a 7-8 in their 9 point scale on their solid state by 2028. Their condensed battery made a lot of news last year - but now they appear to be going back to all in on solid state - not promising.
I guess another issue is tech. People are thinking there will be world changing tech upgrades in 3 years... Looking at current batteries, it is easy to fall into that trap - but I bet we are closer to 2035 than 2027. CATL is one of the world leaders - and one not in current political favor in the US. They are thinking they will only be at a 7-8 in their 9 point scale on their solid state by 2028. Their condensed battery made a lot of news last year - but now they appear to be going back to all in on solid state - not promising.
I could see leasing one just for any battery or EV tech that could improve over the course of a lease term.
Only reason I would consider lease is the idea that in 3-5 years they could be producing a smaller more jeep/Bronco like vehicle with possible removable top
We will just have to see what happens. We penciled our business case around pricing that doesn't depend on tax incentives.
companies like Genesis are using leases for EV’s because it’s a loophole that allow you to get the $7500 when the vehicle doesn’t qualify for it. Leases are a reasonable option with EV’s since resale values of EV’s are rather unpredictable right now.
You are correct on unpredictable but that can work against the consumer too. If EV companies are unsure how the vehicles will depreciate they may not want to risk leases in fear of end of lease turn backs that are now 25% lower in value than they expected. Now the risk is a double edge sword because if EV sales would slow they are forced to take a hit on the front end and potentially the back end as well with lease returns.
I hope they do lease-I will likely purchase with minimal financing but we are saving hard right now to be in that position in around 2 years. Leasing is a good way to bring consumers to the EV market with only a 2 or 3 year commitment in case they don’t like. Also allows SM to convert those same consumers to buyers on their next EV
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