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Discussion Starter #1
Hello all. I've been following the forum for some time now but just registered after receiving the generic "journey from the port" message (US, PA).

I would appreciate any advice on the merits of leasing a PS2 as opposed to owning one. I usually purchase and drive my cars for years on end. This wasn't much of an issue with ICE cars but I am worried about buyers remorse setting in within a couple of years when higher-range models will probably be available. On one hand I would prefer to own the car but on the other I would like the flexibility of upgrading to an improved model in the future. Growing pains aside, the two primary factors for me are range and charging speed (consistency).

Also, what are the chances of PS offering a favorable trade-in program for Launch Edition buyers if an upgraded PS2 (e.g. heat pump) comes along after the initial rollout? or a switch to a subscription service like Care if eventually offered?
 

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I am going through the same decision trade offs. It is impossible to tell whether the residual value will drop faster than ICE ( rapidly improving EV tech ) or slower, simply because the electronics are easily upgraded, there less to break, and by the time in 8-10 yrs we need to buy a new battery, they will be really cheap.
 

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'21 P*2, 19", Midnight/leather, +tow
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I am going through the same decision trade offs. It is impossible to tell whether the residual value will drop faster than ICE ( rapidly improving EV tech ) or slower, simply because the electronics are easily upgraded, there less to break, and by the time in 8-10 yrs we need to buy a new battery, they will be really cheap.
Making the same calls myself. Hard to know what to do without real final info from Polestar re what the numbers are in the end for lease vs finance/cash.

Assuming there's not a lot of hidden fees, etc I'm going with lease mainly for the reasons suggested that I think the rest of the EV world is progressing really quickly and in ~3 years there will likely be other options. At the least, if Polestar or Volvo makes a nice EV sports wagon with similar specs otherwise as the P*2 (please please please!) I'd like to be able to switch over to that!
 

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Making the same calls myself. Hard to know what to do without real final info from Polestar re what the numbers are in the end for lease vs finance/cash.

Assuming there's not a lot of hidden fees, etc I'm going with lease mainly for the reasons suggested that I think the rest of the EV world is progressing really quickly and in ~3 years there will likely be other options. At the least, if Polestar or Volvo makes a nice EV sports wagon with similar specs otherwise as the P*2 (please please please!) I'd like to be able to switch over to that!
Has anyone seen their lease quote go up again online? Mine went up by $40. For 36 mo and 12,000 miles no down payment $880.85 month. PS2 PP
 

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Has anyone seen their lease quote go up again online? Mine went up by $40. For 36 mo and 12,000 miles no down payment $880.85 month. PS2 PP
For mine with 10k mi 36 mo, midnight, 19" noPP, leather, tow bar, it's now saying $900

These numbers are changing over time though. I suspect polling bias due to shy Space managers.
 

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My original plan was to finance for 60 months at 0%, get the $7,500 tax credit, then sell or trade it in after 24 months. During that 24 months, the amount I'd pay for financing (including the tax credit) would be ~$4000 LESS than if I lease for 24 months. But like LexZ said, this all depends on the residual value. I think I'm too nervous to lock myself into a 60 month commitment for a vehicle which has had TWO recalls after only a few months on the market, so I think I'm going to opt for the 36 (or perhaps 24) month lease to be safe.
 

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This will be my 3rd EV that I'm getting. Learning from BIG mistakes, I am leasing! EV's tend to have the resale drop out from beneath them. I'd rather pay $900 for a month for 3 years and KNOW I'm not upside down and can walk away, as opposed to $1300 a month and after 3 years MAYBE be in the black...
 

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Weird - I've had the opposite. Vauxhall Ampera (Chevy Volt) - lost 46% after 5 years. Kona - set to lose 12% after 20 months. Zoe - still worth within £1k what I paid for it cash last year.
 

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Perchance things are a bit difference in the states. Our used car market is not kind to EV's. There are so many government incentives on new cars that people are reluctant to buy used.
 

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Perchance things are a bit difference in the states. Our used car market is not kind to EV's. There are so many government incentives on new cars that people are reluctant to buy used.
Interesting, and definitely different. There are no Government incentives on new cars other than EVs, where we get a £3k (about $4200) discount. Most new vehicle says are on finance, lease, PCP or company cars.
 

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Discussion Starter #11
This will be my 3rd EV that I'm getting. Learning from BIG mistakes, I am leasing! EV's tend to have the resale drop out from beneath them. I'd rather pay $900 for a month for 3 years and KNOW I'm not upside down and can walk away, as opposed to $1300 a month and after 3 years MAYBE be in the black...
Thanks. This equation is my biggest dilemma after the original question about lease vs. buy. It just seems like a lot to pay for effectively renting the car for a few years.
 

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If you’ve not leased before, the other part of the calculation I wasn’t as prepared for was what you’ll do at the end of your lease.

I leased my Alfa Romeo (because, uh, Alfa Romeo ha ha), trying to give it at least half a year overlap with when I expected to get an electric car (hoping it’d be Polestar 2). But that lease expired and my only options were to extend by 3 months max or buy it outright, which I didn’t want to do. I ended up financing a Model 3, because then I can let go of it any time I please. And I’m glad I did since back then Polestar would just tell me “in 2020” and it now looks like they might make that by the slimmest of margins.

Other than that, my lease experience was fine. When there were major problems with the car (didn’t have it for ~3 months of fixes) they paid my lease for those months.
 

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Reasons to lease:
1) Your car is constantly covered by a warranty.
2) For some time, and now especially with EVs, car tech is advancing so quickly that you'll want to keep up.
3) Should there be some huge increment in tech (safety, battery, etc.) the value of your car could plummet. Let the lease company take that risk.
4) You can just put your monthly car payment in your budget on an ongoing basis.
5) If your car is in an accident it's never fixed perfectly, but that less than perfect is fine for your lease. Basically you can obsess a little less about your car and just enjoy it.
6) You get to drive a new car every 3 years or so!!! :D
 

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Reasons not to:
1) It will cost more as by definition they've calculated the depreciation, added on the maintenance and average repair costs and expendables costs (tyres etc), divided it by the length and then added on a mark-up of probably 15-20%. Therefore unless something drastic happens, you will always pay more
2) You can get rid of it whenever you like with no penalty.

So it's ultimately purely down to personal preference :).
 
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No doubt that it costs a little more. You have to balance that against all of the benefits. as for getting rid of the car, there are ways of disposing of a lease if you really have to. On the other hand if you purchase the car with a loan and then you have to get rid of it early you might be underwater and it may cost you to get rid of it.
 

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Reasons to lease:
1) Your car is constantly covered by a warranty.
2) For some time, and now especially with EVs, car tech is advancing so quickly that you'll want to keep up.
3) Should there be some huge increment in tech (safety, battery, etc.) the value of your car could plummet. Let the lease company take that risk.
4) You can just put your monthly car payment in your budget on an ongoing basis.
5) If your car is in an accident it's never fixed perfectly, but that less than perfect is fine for your lease. Basically you can obsess a little less about your car and just enjoy it.
6) You get to drive a new car every 3 years or so!!! :D
Regarding #5 -
A few years ago my wife had a new Macan S (purchased/financed). The car was rear ended with 600 miles on it, significant damage done. Although insurance covered repairs, I had to go after the other driver's insurance company for diminished value as the car would forever be worth significantly less. Since then we have leased her cars :)
 

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Discussion Starter #17
Regarding #5 -
A few years ago my wife had a new Macan S (purchased/financed). The car was rear ended with 600 miles on it, significant damage done. Although insurance covered repairs, I had to go after the other driver's insurance company for diminished value as the car would forever be worth significantly less. Since then we have leased her cars :)
I never thought about it from that perspective. In fact, this PS2 is for my wife although she doesn't know anything about it yet. She is a safe driver overall but does have a special affinity to curbs and corners..
 

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I have great fear of curb rash. Should be easier to avoid with the cameras.
 

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I never thought about it from that perspective. In fact, this PS2 is for my wife although she doesn't know anything about it yet. She is a safe driver overall but does have a special affinity to curbs and corners..
Having said all that about leasing, you still can't abuse the car. If it has excess wear and tear when you turn it in you will be charged for that. Then again, some dealers just eat it if you are leasing a new car from them.
 
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