Tesla Model X Leasing Guide (2016-)
Tesla has gone from strength to strength in recent months and years, with a strong brand, great market position and stern ethos. They’ve become the defacto electric vehicle manufacturer, and it’s only fairly recently that mainstream rivals like Jaguar and Audi have come to the table with offerings like the i-Pace and E-Tron.
Electric Vehicle (EV) incentives make this segment of the market very competitive, but it doesn’t count for anything unless there are strong Residual Values (RV’s) that go with it. Thankfully, Tesla RV’s are very strong compared with their main rivals.
Not only do Tesla’s command a premium in the 2nd hand market, one could argue that the constant and relentless pace they update the technology in their cars also has a positive effect on their overall perception; which also helps their RV – Not to mention the fact that you can add options to your car via over the air updates at any point. In this respect, they’re more like a phone than a car. Constantly being updated to make them smarter.
This makes lease or ownership more cost-effective over the course of its lifecycle, as they can become more desirable over the course of their lifecycle as and when you add options; something you can’t do with traditional cars…
Whilst the models have become more complex, here at Car Leasing Guru, we’ve simplified everything so that you see which Tesla model X is the best one to lease, and how we decided.
Analysis – The Best Overall Choice
We’ve determined that the Long Range AWD 5dr Auto is the best overall model to lease; getting an 8.6/10 Car Leasing Guru Score. Click here to find out how we score vehicles.
It has the lowest percentage of list at over the course of a 2 year/10,000k per annum lease (28.3%). Click here for our percent of list explanation.
It also has the lowest overall cost over a 2-year lease as well (£24,666).
Retail Price: £87,190
Analysis – The Best Overall Value
When you look at the entire model line-up to see which one offers the most value. We’d recommend the Long Range AWD 5dr Auto [7 seat]
This model has a percent of list of 29.1%.
This model costs a fraction more over the course of a 2 year lease (£26,406) compared with the model above, but that’s to be expected because of the additional 2-seats.
Retail Price: £90,590
What’s the difference between these models?
The only difference between these models is the additional 2 seats on the 7 seat model. Everything else is the same.
There are two specifications to choose from in the Tesla Model X range, plus extra seat configurations. The base model ‘Long Range’ or the ‘Performance’. The ‘Long Range’ model easily offers the best value for money when looking at the entire range.
The ‘Long Range‘ model gets:
- 314 miles of range
- 155 mph top speed
- 4.4 seconds (0-60 mph)
- Self-presenting and closing front doors
- Premium audio system specifically tuned for a Tesla’s ultra-quiet cabin
- Cold weather features including heated seats for every passenger, heated steering wheel, wiper blade defrosters and washer nozzle heaters
- HEPA air filtration system prevents viruses, bacteria and offensive odours from entering the cabin
- Premium Connectivity (1 year included)
- Satellite maps with live traffic visualisation
- In-car internet streaming music and media
- Video streaming
- Internet browser
- Music and media over Bluetooth®
- LED fog lamps
- Panoramic windshield with ultraviolet and infrared protection
- Auto-dimming, power-folding, heated side mirrors
- Custom driver profiles
- Wireless phone charging in the centre console
The ‘Performance‘ gets everything the Long Range gets, PLUS:
- 329 miles of range
- 162 mph top speed
- 3.2 seconds (0-60 mph)
- 20” Performance Wheels
- Performance Brakes
- Carbon fibre spoiler
- Lowered suspension
- Aluminium alloy pedals
- Increased top speed from 145mph to 162mph
- Track Mode
Total Lease Costs
We try not to bury people with numbers, so please use the Total Lease Cost graph below as a visual indication to help you understand what you would be paying to lease a Tesla Model X.
We’ve provided some generic terms and mileages, but please use our pricing guide on the homepage if you need a tailored leasing price, and we’ll tell you what you should be paying per month.
At the time of writing, there were only 6 Model X options available; which we’ve included below.
Mileage is calculated per annum. 36m 20k = 36-month lease, with a total end mileage of 60,000.
On the Road Prices (OTR)
Car Leasing Guru Score
*Based on the ‘Total Lease Cost’ graph for a 24-month lease @ 10,000 miles.
On The Road Price
Long Range AWD 5dr Auto | £87,190
Long Range AWD 5dr Auto [7 seat] | £90,590
The difference in On The Road price | £3,400
Let’s look at how much you would pay over a 2-year lease, doing 10,000 miles a year (use ‘Total Lease Cost’ graph as a reference)
Total Lease Costs
Long Range AWD 5dr Auto | £24,666
Long Range AWD 5dr Auto [7 seat] | £26,406
The difference in Total Lease Cost (over 2 years) | £1,740
Monthly payment: £3,400 / 24 months = | £72.50
Let me explain.
Tesla charges £3,400 extra in order to get the 7 seat Model X.
The total lease cost for you would be a proportion of that. £1,740 to be exact.
The expectation is that because the 7 seat model is £3400 more to buy at retail, you will be paying £3,400 extra for the additional seats. This working example proves that is not the case, and you simply pay a proportion of the actual cost.
This is why we recommend the Long Range AWD 5dr Auto overall. You get the most “bang for the buck”. 7 seats are for a very specific demographic in the market. If you are in that specific demographic, you are now aware that you won’t pay the full £3400 for the privilege of 7 seats.
This is just some basic analysis that will hopefully help you understand the value of a 2020 Tesla Model X lease a little better. If you are searching for Tesla Model X lease deals, cheap tesla lease, or just general car lease comparison, then the Long Range AWD 5dr Auto the best one to go for, and offers the best “value”.
Tesla Model X Car Lease Comparison | Leasing Guide
The Car Leasing Guru Team