We are back for a very personal look at what comes next. This involves a technical perspective after our Tesla Model X Plaid buyback is finalized. Abby and I spent our Thanksgiving in Las Vegas discussing our options. I want to share the technical and financial roadmap we’ve built to navigate this transition.
First, a huge shout-out to my wife, Abby. I did a “PowerPoint presentation” to convince her to get our first Model 3 in 2019. She supported me when I wanted to lease the R1T earlier this year. She has always had my back.
The Core Goals
- Downsize: Moving from three cars to two to save on insurance and registration.
- Keep a Truck: The utility of having a bed for hauling band equipment or off-roading in Death Valley is non-negotiable.
- No More Model X: Abby loves the ride quality. However, we are done with the “mental fatigue” from troubleshooting Falcon Wing door issues. We are also tired of constant service visits. Essentially, we are done with the Model X.
The Rivian R1T Lease Logistics
We want to downsize. Therefore, we had to look at the math of getting out of ourlease on the Rivian R1T. Here are the three exit paths I’ve investigated:
- Option A: Return & Pay Balance: Pay the remaining 28 months at $813/month.
- Option B: Auction Difference: Return the truck for auction. If the auction price is lower than the $68,514 buyout, I pay the difference.
- Option C: Third-Party Buyout: Sell the truck to a dealer (like CarMax or Carvana). If they offer $65,000 against the $68,514 buyout, I pay the $3,514 negative equity and walk away.
Final Strategy: Option 1 vs. Option 2
Option 1: The “Dream Duo” (Cybertruck + Model Y)
This is our primary goal. We would surrender the Model X Plaid, sell/trade the Rivian R1T, and take delivery of a Tesla Cybertruck.
- The Math: I have $4,500 in Tesla referral credits. Additionally, there is a $2,000 Cybertruck discount. Together, we have $6,500 in incentives to offset the negative equity from the Rivian lease.
- Financing Tip: If you lease a Cybertruck for the $7,500 tax credit, buy it out immediately with cash if possible. Financing a lease buyout at today’s 6-7% interest rates can be costly. You might pay more in interest than the $7,500 credit is worth.
Option 2: The “Safe Bet” (R1T + Model Y)
If the negative equity on the Rivian is too steep (over $10,000), we will simply keep the R1T lease. We will also keep the Model Y Performance. We would save the Model X Plaid buyback money. We would stay at two cars. We would wait for the Model Y Juniper or Rivian R2 to hit the market in a year or two.
Final Thoughts: Why No Third Model X?
Abby loves the comfort, but I can’t do it again. Owning a car shouldn’t mean sitting with your phone ready to record a random failure. We are looking forward to a simpler, two-car setup that still lets us hit the trails and the Superchargers.
Watch the full strategy deep-dive here
Which way do you think we should go? Cyber-duo or keep the R1T?
