Finally Tesla to create Tesla finance and a real leasing program. It is already into the design studio Hope this will come soon in Canada. Tesla Business Leasing | Blog | Tesla Motors
That's a positive step forward to sell more cars. But what about individuals? There's no mention of a personal leasing option.
ha, that's because in order to make it 'attractive' they factored in tax savings from your business use. Nothing special here. I suspect most business owners understand how to do their taxes anwyay will just go with their own financing at better rates.
All details are here: http://www.teslamotors.com/sites/default/files/pdfs/tesla-resale-value-guarantee.pdf?v20131001 Essentially, you must finance via their lenders (and end up with a higher Rate). Then you must sell the car back to them between months 36-39. They pay you 50% of the base purchase price + some % of options. You're limited to 12 or 15k miles per year. Once the 39 months passes, the offer expires forever.
It is $1,012/month for the 60kWh $1,199/month for 85kWh $1,451/month for the P85 36 month lease, $5,000 down, 15,000 annual miles, $700 acquisition, $300 disposition
I have a p85+, with most options. My payment to own is ~$1600/ 60 months with Alliant. Seems silly to pay that much and still owe the residual at the end, and be limited in your annual usage. Questions that need to be answered to further evaluate: What is the residual at the end of the 36 month lease? Is this lease open ended or closed.
If anyone gets a copy of the lease agreement, please post it. I'm curious what money factor (interest built-in to the lease) they're charging and what the residual values are?
Tesla Motors - Business Leasing Program Tesla has announced that it will offer leasing to business owners. It is predicted that this will keep the Model S and Model X in high circulation with many new owners. This will allow for factories to continually manufacture more vehicles. I believe they did this because of the predicted Q1 results. On Tesla's website they have 3 options now. Finance, Leasing, and Cash. The program is definitely not cheap and Tesla adds manipulation tactics to make the price appealing. The payment scheme is this: Monthly payment: $1,012 /mo. Gasoline savings: -$261 /mo. Business tax benefit: -$343 /mo. $408 /mo. Business Lease Including Gasoline and Tax SavingsFine print: The monthly cost of business leasing is calculated using the following assumptions: 36 month, 15,000 annual mile lease with a $5,000 down payment, a $700 acquisition and $300 disposition fee, a 40% effective tax rate with 70% business use, and gasoline savings. Gasoline savings are calculated assuming $0.11 per kilowatt hour compared to paying $4.90 per gallon for premium gasoline with a fuel efficiency of 20 miles per gallon. Business leasing is available in CA, CO, CT, FL, IL, MA, MD, NY, TX, and WA. The first month’s payment, down payment, and acquisition fee are due at signing. The thing about this lease is.... The miles are WAY to low... HOW DOES SOMEONE KEEP THIS CAR UNDER 15,000 MILES IF IT IS SO FUN TO DRIVE?!?!? What are your opinions on this?
Sounds like a closed end lease. So.... if there is no damage to the car, and the mileage is under 45,000 miles, then you can just turn the car in at the end of 36 months with a check for $300. In the extra fine print there will be a charge for going over the mileage usually $.10 to $.15/mile, but I have seen higher! Repairs if necessary are usually better done by your shop rather than turning it in and letting them charge you their rate for the repairs.
It's a smart program for Tesla to make available. Of course Tesla tries to make it appear as appealing as possible. It's up to prospective participants to see through some of the rather dubious assumptions, such as calculating savings assuming a gasoline price of $4.90/gallon and a conventional car getting 20mpg, as well as an electricity cost of $0.11/kWHr
Those are California numbers with night time EV rates and high gas prices. My prior car was 27mph. Premium is $3.93 and electricity is .17/kWh. I can't see this business lease offering anything more than the prior sales style.
Agreed, I am on CA and pay that rate to charge my car. My point was that not everyone should assume it is a rate available to them in their area. As to Tesla's assumed fuel cost, they say it is a projected average over the else term. Seems high to me, but I can't predict the future, and neither can Tesla.