by Tesla changed its policy on buying back leased cars
Until recently, Tesla customers did not have the right to buy out their cars after the lease term ended. The company explained this by planning to use these cars for a future fleet of autonomous taxis. However, these plans were never realized.
Instead of creating a robotaxi fleet, Tesla began reselling these cars, first installing software updates that significantly increased their value. As a result, former lessees could not purchase their cars at a reasonable price, while Tesla gained additional profit.
“Returning a leased Tesla is a terrible experience. Lies about the impossibility of buying it out, after which the car is sold at auction instead of being turned into a robotaxi as promised.”
The company’s new policy
In November 2024, Tesla changed its policy, allowing customers to buy out leased cars. This decision is linked to falling market prices for electric vehicles and increasing competition. However, the buyout cost remains quite high.
For example, the buyout price for a Model Y AWD is over $33,000, which is higher than the market value of three-year-old equivalents. Many customers remain dissatisfied with the company’s actions, and some even refuse further cooperation with the brand due to its policy.
The decline in trust in the brand could have long-term consequences for Tesla, especially amid the overall rise in competition in the electric vehicle market. The company now plans to create its own robotaxi fleet, but whether it will succeed in implementing these plans after previous failures remains an open question.
