Is there a lease program for the Model S?

[bareyb]

Hi guys... A friend of mine on another forum wants one of these so bad he can taste it. Unfortunately, he doesn't have the cash... I know there is a financing option, but I ran across this video from last April and it seems to indicate there is a lease program... Anyone know what this is about?

 

[AnOutsider]

There's no real lease. There's financing with a buy back guarantee though.

 

[bareyb]

There's no real lease. There's financing with a buy back guarantee though.

So what do they mean when they talk about a $500.00 per month payment? That's certainly not going to happen with financing... unless you put half down.

 

[texex91]

So what do they mean when they talk about a $500.00 per month payment? That's certainly not going to happen with financing... unless you put half down.

Well they prefer 15-20% and up to 84 months (which is insane why anyone would finance that long). If you get a stripped 60, I guess it could be done.

 

[bareyb]

Well they prefer 15-20% and up to 84 months (which is insane why anyone would finance that long). If you get a stripped 60, I guess it could be done.

I'm discussing this on another forum and they pointed out that some of those low ball estimates were also taking into account how much you would save on Gas and repairs etc. So that's a tad misleading. They really should come up with a Lease program though. I know a lot of folks who'd buy if they could lease. As it is, it's about 20 grand out of reach for most folks. I guess we are lucky we can afford one, but a lot of people balk at a car that costs more than about $60k. That seems to be a lot of people's "mental limit".

Hey TEX! I just realized, you will probably be getting your car on my Birthday! I wish it were me... I still haven't even gotten my "In production" email yet...

 

[texex91]

I'm discussing this on another forum and they pointed out that some of those low ball estimates were also taking into account how much you would save on Gas and repairs etc. So that's a tad misleading. They really should come up with a Lease program though. I know a lot of folks who'd buy if they could lease. As it is, it's about 20 grand out of reach for most folks. I guess we are lucky we can afford one, but a lot of people balk at a car that costs more than about $60k. That seems to be a lot of people's "mental limit".

Hey TEX! I just realized, you will probably be getting your car on my Birthday! I wish it were me... I still haven't even gotten my "In production" email yet...

I hear you. My 'mental limit seems' to keep growing over the years 80, 100, 130...it's a sickness for sure :biggrin:

Hey, well thanks for the gift for me on YOUR B-Day! Looks like I may receive it a week before, as of today. Waiting to see. You should get an email soon with VIN and 'sourcing parts'. It won't be long and the factory is cranking them out pretty quick.

 

[ItsNotAboutTheMoney]

So what do they mean when they talk about a $500.00 per month payment? That's certainly not going to happen with financing... unless you put half down.

The $500 was Tesla overegging the pudding by saying the with other savings it was the equivalent of a $500 payment. It's more realistic now and higher. Savings compared to a cinventional car depend on I dividual circumstances like miles driven, electricity prices, use of HOV lanes and so on.

 

[evme]

I'm discussing this on another forum and they pointed out that some of those low ball estimates were also taking into account how much you would save on Gas and repairs etc. So that's a tad misleading. They really should come up with a Lease program though. I know a lot of folks who'd buy if they could lease. As it is, it's about 20 grand out of reach for most folks. I guess we are lucky we can afford one, but a lot of people balk at a car that costs more than about $60k. That seems to be a lot of people's "mental limit".

Hey TEX! I just realized, you will probably be getting your car on my Birthday! I wish it were me... I still haven't even gotten my "In production" email yet...

Yes and no. Here is what they are calculating:

http://www.teslamotors.com/tesla_theme/tco/tco.html?price=71070&residual_base_price=69900

They are only calculating savings in fuel + assuming your in california. Savings on repairs are not calculated.

Effectively they are calculating how much cost to own would be vs a gasoline car.

HOV lanes are not calculated as part of the base 579$ price, though are an option.

 

[TylerCA]

I did find that tesla's site was a bit misleading as well in terms of the figures. Didn't pay much attention to the cash price and found out that they calculated the 7500 tax credit into it. Not a big deal, but I just thought it was a tad short of deceptive.

 

[AnOutsider]

I'm discussing this on another forum and they pointed out that some of those low ball estimates were also taking into account how much you would save on Gas and repairs etc. So that's a tad misleading. They really should come up with a Lease program though. I know a lot of folks who'd buy if they could lease. As it is, it's about 20 grand out of reach for most folks. I guess we are lucky we can afford one, but a lot of people balk at a car that costs more than about $60k. That seems to be a lot of people's "mental limit".

Hey TEX! I just realized, you will probably be getting your car on my Birthday! I wish it were me... I still haven't even gotten my "In production" email yet...

I did find that tesla's site was a bit misleading as well in terms of the figures. Didn't pay much attention to the cash price and found out that they calculated the 7500 tax credit into it. Not a big deal, but I just thought it was a tad short of deceptive.

There were MANY posts here when this was all announced re: how deceptive the numbers were. Some defended them, but in the end, I think everyone agreed Tesla was being a bit loose with their words/numbers. I don't know if it still did, but the original version of the page automatically included your "time" as $100/hour and calculated that in savings in carpool lanes and such (completely forgetting the "time" you'd spend charging somewhere if need be).

 

[TylerCA]

For business purposes, you would have to go with a commercial bank to set up a lease program, but expect the rate to be high. I considered it, but in the end it was not worth the hassle. Hopefully Tesla would come out with a lease program as I can definitely seeing myself ordering a fleet of Gen3s for business purposes.