Official: Tesla lowers Model S lease price, adds 3-month ‘happiness guarantee’
Filed under: Car Buying, Sedan, Tesla, Electric, Luxury, Ownership
Tesla Motors is offering an enticing deal for potential buyers who might not be entirely sure whether they actually want to own a Model S for the long term. A deal through US Bank not only lowers the cost to lease the EV but also turns leasing the brand’s electric sedan into a long-term rental.
Curious buyers who lease a Model S are now able to return it in the first three months with no penalties and with the remaining payments waived, something Tesla is calling the “happiness guarantee.” CEO Elon Musk announced the deal on the company’s blog, and he said the payments were also as much as 25 percent lower because US Bank “has a much lower cost of capital than us.” Currently, a Tesla lease starts at around $800 and can be up to $1,300, with down payments around $6,500. Tesla leasing is available in 38 US states (full list below).
Of course, there is a catch for the offer. If people turn in their Model S within three months, they can’t immediately lease another one. Musk doesn’t say how long the wait is.
The new leasing deal isn’t a solution for those owners who want their Model S to always have the latest and greatest features. However, for folks who are on the fence about one of these electric, luxury sedans, the offer might prove too enticing to pass up. Of course, Tesla has a history of announcing lease details only to change them later, so we’re not sure how long this deal will last or if it’ll get better in a month.
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Tesla lowers Model S lease price, adds 3-month ‘happiness guarantee’ originally appeared on Autoblog on Mon, 27 Oct 2014 18:29:00 EST. Please see our terms for use of feeds.
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