Many people weigh leasing against buying when getting a Tesla. There's no single right answer — it depends on your situation. This guide explains the broad principles so you can make an informed choice. Note that specific rules, taxes and terms change and depend on whether the purchase is private or business; always check the current rules and seek professional advice for major decisions.
The main difference
| Buying | Leasing | |
|---|---|---|
| Ownership | You own the car | You pay for use for a period |
| Commitment | Until you sell | The lease term (typically 1-4 years) |
| Upfront | Often higher | Often lower first payment |
| Depreciation | You bear it | The leasing company bears it (per agreement) |
| Flexibility | Sell whenever | Swap cars at term end |
When does buying make sense?
Buying is often favourable if you keep the car a long time and drive a lot. You own an asset, can sell whenever, and aren't bound by mileage limits. In return, you bear the depreciation and handle resale yourself.
When does leasing make sense?
Leasing can be attractive if you want predictable monthly costs, lower commitment and the option to switch to a new car regularly. It often suits businesses and those who like driving new cars without worrying about resale. Watch for mileage limits and wear-and-tear terms.
Private or business?
For business and company cars, taxation and VAT come into play, and leasing can have particular advantages here. The rules are complex and change — talk to your accountant or an adviser about what makes the most sense in your situation.
Where does the referral benefit fit?
The referral program is tied to buying a new Tesla. If you buy the car (and perhaps finance it yourself), you can typically get the current referral benefit. With leasing, it depends on how the agreement is structured and on Tesla's current terms. Either way: use the code correctly if you order a new car.
Checklist
- How long will I keep the car?
- How many kilometres do I drive a year?
- Is it private or business?
- Do I want to own an asset or have low commitment?