Tesla vehicles can no longer be bought at the end of their lease

With used-car costs skyrocketing, Tesla is now not permitting clients to purchase automobiles on the finish of leases.

“All Tesla autos delivered on or after April 15, 2022, are usually not eligible for buy,” based on new language on the corporate’s web site first noticed by Electrek. “Third-party dealerships and third-party people are usually not eligible to buy leased autos.”

Sure clients who leased a automobile earlier than April 15 should still be capable to buy it on the finish of the lease, Tesla famous. That is sometimes an possibility with different automakers, however this is not the primary time Tesla has withheld it.

2022 Tesla lineup (Courtesy of Tesla, Inc.)

When it launched extensively obtainable leasing choices in 2019, Tesla would not let clients leasing the Mannequin 3 purchase the automobiles. On the time, Tesla mentioned it deliberate to make use of the automobiles in its “robotaxi” autonomous ride-hailing community. However that community—and the autonomous-driving expertise wanted to make it occur—by no means materialized.

Within the meantime, used EV costs have surged in comparison with the identical time final yr. Elevated demand and lack of stock as a consequence of supply-chain points has pushed up costs throughout the board, with used Tesla costs seeing a few of the largest spikes.

A flood of used Tesla Mannequin 3s coming back from lease over the previous yr did not appear to in any respect assist make used Teslas extra inexpensive, as common costs remained propped up by sturdy demand nationwide.

2022 Tesla lineup  (Courtesy of Tesla, Inc.)

2022 Tesla lineup (Courtesy of Tesla, Inc.)

On the identical time, periodic worth will increase have made new Teslas costlier. Model-new, the Tesla Mannequin 3 now prices greater than a 3rd increased than a yr in the past.

Whereas used and new costs have risen, there are different methods to get behind the wheel of a Tesla. California-based Autonomy presents a month-to-month Mannequin 3 subscription, and Hertz is including the Mannequin 3 to its rental fleet. Uber drivers are additionally eligible to hire a Mannequin 3 from Hertz, which is probably going as shut as Tesla will get to its promised robotaxi ride-hailing fleet for the foreseeable future.

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