Tesla offers the ability to buy or lease their vehicles. However, leasing a vehicle came with a major shortcoming. Leasing a Tesla meant you couldn’t buy out your lease at the end of the contract. Instead, you were required to return the car to Tesla, leaving you the option of leasing another or purchasing a new vehicle.
For the first time in Tesla’s history, lease buyouts are being introduced for the Model 3 and Model Y and are returning for the Model S and Model X as well.
Lease buyout now available for new S3XY + @cybertruck leases in the US
Tesla’s social media team took to X to announce that the company is going to allow lease buyouts in the United States for the first time. As Tesla works with its financing partners, we expect this option to roll out to other regions too. These lease buyouts include all its vehicles, including the Cybetruck.
A lease buyout is an end-of-contract option that lets you purchase the vehicle for its residual value, allowing you to keep the car instead of returning it. It’s a great way to test-drive a car long-term, giving you the flexibility to decide if it’s the right fit before committing to ownership. For many new car buyers, it offers a lower-risk alternative to buying a vehicle outright, making it an attractive option for those seeking less upfront commitment.
Offer to be Extended to Current Leases
The price of the buyout is normally determined at the signing of the lease contract - rather than at the end of the lease. While Tesla initially said that the buyout of leases is only for new leases - that quickly changed. Tesla is confirming that end-of-lease clauses will become available for current leasees over the next few weeks. Leasees will be able to reach out directly through the Tesla app to get buyout quotes - or reach out to their financial institutions if the lease was done through a third-party financer.
If you’ve been hesitant to lease a Tesla due to the inability to buy it out, stay tuned—this teaser might just change the game. For many, it’s the final nudge needed to take the plunge and lease a new Tesla. With the added perks of the updated referral program and other incentives running right now, now is an excellent time to buy a new Tesla.
Tesla previously told its employees on the Cybertruck production line that work would be halted for three business days and that they would not be required to show up to Giga Texas for any other work. Work was halted on the Cybertruck line from December 3rd until December 6th.
Many speculated that Tesla had hit a demand mark with the Cybertruck or run into other production-related difficulties. However, pausing production for such a short period is a fairly normal business operation, as Tesla continuously retools and upgrades its production lines.
Halts for business demand tend to look more similar to Ford’s F-150 Lightning production halt - where they halted production from November 18, 2024, until January 6, 2025. Ford also announced that this production halt was due to reduced demand for its electric truck in the face of stiffer competition.
Cybertunnel
In this case, part of the reason for the halt could potentially have been due to upgrades to the underground tunnel that is used to move Cybertrucks fresh from the production line to the holding lot at Giga Texas. Tesla has been working on improving the production flow rate for its vehicle - and rather than encountering issues with production, they’ve previously mentioned they’ve had issues with getting vehicles out of their outbound parking lots and off their assembly lines - and into customers’ hands fast enough.
The Cybertunnel moves trucks from inside Giga Texas to the holding lot just outside the factory. At that holding lot, they’re either loaded into trains or trucks to be transported across North America. The tunnel passes underneath Texas Highway 130, helping to ensure that Tesla isn’t clogging up traffic crossing the highway with brand-new trucks.
More Shut Downs?
It’s likely we’ll see even more shutdowns at Giga Texas in the coming months. Tesla has shown that it intends to continue increasing production rates at Giga Texas, which means it will need time to upgrade its assembly lines and processes. In addition, the Model Y is also produced at Giga Texas—and once the Model Y Juniper arrives, there will need to be shutdowns to accommodate re-tooling.
So, no need to stress - it's just regular operations. And we get to see a cool Cyber-themed tunnel too. In the meantime, check out Joe Tegtmeyer’s drone video of Giga Texas below.
Giga Texas on this cold 6 December 2024 morning! Big news with the @boringcompany paving & tunnel covering structure on W side, new mystery construction on W side of GA, continued work on SW corner for tunnel alternate exit & production of both @cybertruck & Model Y today,… pic.twitter.com/94a894ix1I
Tesla’s FSD V13 introduced a host of new features, including the ability to Unpark itself, travel in reverse, and Park at its destination. While FSD can now navigate itself out of a parking spot or garage, there are limited options when arriving at your destination, but that’s about to change.
Garage Support
Ashok Elluswamy, Tesla’s VP of AI, confirmed on X that a future revision of FSD V13 will introduce a variety of parking options, including parking in garages, driveways, parking spots, or simply pulling over on the side of the road. Drivers will presumably be able to pick when choosing a location, or maybe the vehicle will offer suggestions based on the location.
This will be a big addition, as today, FSD doesn’t understand how to park in a garage or driveway. Some owners trick FSD into parking in their driveway by using tape or road paint to outline parking spots.
Soon, that may not be necessary, and instead, FSD will simply back itself into your garage. This feature will probably work best in larger garages—extremely tight garages may not work, given the reduced precision of vision at extremely close distances.
We hope that if Tesla introduces this feature, they’ll sell printable guides you can stick on the garage walls or floor to help ensure your vehicle is in the perfect spot every time. Many commenters mentioned that they park in urban/suburban garages with only inches to spare around their vehicles, so this will be an interesting challenge for Tesla to address.
Parking Garages
Parking garages offer their own unique problem set. For the most part, FSD can already navigate its way out of a parking garage, assuming that there aren’t any special gates or sequenced/signaled signage.
It is also able to find a parking spot in multi-level garages and navigate its way out. More support for multi-level parking garages is coming, as FSD seems to stick to the garage walls until it can find the exit itself. It seems that Tesla’s data gathering and vehicle-to-fleet communication could aid Tesla in figuring out parking garages in terms of knowing the entrances and exits.
FSD 13.2 enters a parking garage. I then park it on the second floor and it escapes the parking garage. I then park it on the snow covered roof and... pic.twitter.com/GxfsldfkUz
In the Upcoming Improvements section of FSD V13, Tesla mentions that more destination options will be supported, including pulling over (at the side of the road) and parking in a spot, driveway, or garage.
These other destination options are going to be important soon - because one of the biggest FSD features we’re all still waiting for is Banish AutoPark. Once your vehicle can pull over at the entrance of a location and then go park itself, we’re going to be super close to Unsupervised FSD becoming a reality.
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