Something is happening (Tesla website down) - Leasing Option News

[kevincwelch]

I must be missing something here.

This doesn't seem like it's all that great to me. I just ran through their calculator, and my effective monthly cost is about $1025. The variables that are thrown into this mix just don't add up to anything really meaningful.

I get the $11,500 knocked off for federal and the state of Illinois, which I guess is nice since not everyone is eligible for the full $7500 credit.

The fuel efficiency rating they give an automobile is very low. 19 mpg? My previous car was 26 mpg. I don't drive 15000 miles per year (more like 6k), and the price of electricity around here is $0.05.

No business tax deduction.

No commuter lane.

What is my time worth? I really don't understand how they could even factor this into the equation.

So, I must be missing something, or is this a little smoke and fog?

 

[Zythryn]

Gaurantee of the residual value is pretty darned impressive!
While this isn't all that exciting for current owners, I think this will really help the company.

BTW they are talking about this on Bloomberg right now.

 

[orangem]

Website is up but they better fix it. Notice my finalized Design for 40kwh suddenly turned into an 85kwh model.... And officially 40kwh model is gone on the website.

 

[fluxemag]

Gotta say those were some pretty interesting justifications for how it equals $500 a month. I think they should have been more realistic and said $750 and cut the nonsense about the carpool lane and time at the gas station saving you money.

 

[yobigd20]

Did they knock down the 0-60 times for the P85 to 4.2 seconds? I thought it used to be 4.4 seconds.

 

[fluxemag]

My "View Design" for my finalized 40 now shows an 85 price. Not that it matters what the website says.

 

[yobigd20]

"performance plus package" $6500

 

[dsm363]

Did they knock down the 0-60 times for the P85 to 4.2 seconds? I thought it used to be 4.4 seconds.

You're right. I wonder if that is with the Performance Plus package with stickier tires or standard Performance option.

 

[Zythryn]

I must be missing something here.

This doesn't seem like it's all that great to me....

It may not be for you, it isn't for me.
But a lot of people would rather lease new technology rather than own it. In addition, Tesla will guarantee the residual which should make leases much easier to get.

No, it isn't the news I had hoped for, but I think it is huge for the company.

Edit, actually, it isn't a typical lease either. It is open ended. At the end of three years you can turn it in if you want, or you can keep it (and keep paying for it). S for those people really nervous about battery degradation, technology, etc, now you can basically own it, but have the option to turn it in at a guaranteed residual after three years.

 

[JerryNycom]

You Can LEASE a Model S Soon.....

News just annouced.....Read below.......

Link: http://www.teslamotors.com/about/press/releases/tesla-unveils-revolutionary-new-finance-product

Tesla Unveils Revolutionary New Finance Product

Combines best aspects of car leasing and ownership

Tuesday, April 2, 2013





PALO ALTO, Calif.-- Tesla Motors announced today that, in partnership with Wells Fargo and US Bank, it has created a revolutionary automotive financing product that provides the best elements of ownership and leasing to Model S customers.
Most people throughout the world prefer to own their belongings, rather than rent what is essentially someone else’s property via a lease. However, leases do provide some key benefits, particularly a low initial payment, tax deductions, lower risk on resale value and the convenience of returning a car without the hassle of reselling it personally.
Working with some of the largest and most respected banks in the country, Tesla has been able to create a new kind of financing product that combines the surety and comfort of ownership with all the advantages of a traditional lease. Like the Model S, this product was created from the ground up to provide maximum benefit to consumers, rather than simply duplicating other financing programs that tend to favor companies at the expense of the individual.
How does it work?
US Bank and Wells Fargo have agreed to provide 10% down financing for purchase of a Model S (on approved credit.)
The 10% down payment is covered or more than covered by US Federal and state tax credits ranging from $7,500 to $15,000. New Jersey, Washington and DC also have no sales tax for electric vehicles. These advantages are not available when leasing.
When considering the savings from using electricity instead of gasoline, depreciation benefits and other factors, the true net out of pocket cost to own a mid-range Model S drops to less than $500 per month.
After 36 months, you have the right, but not the obligation to sell your Model S to Tesla for the same residual value percentage as the iconic Mercedes S Class, one of the finest premium sedans in the world, made by Daimler (also a Tesla partner and investor).
Not only is Tesla guaranteeing that resale value, but Tesla CEO Elon Musk is personally standing behind that guarantee to give customers absolute peace of mind about the value of the asset they are purchasing.

 

[daveruns]

Personally I am a little disappointed in this. Sounds like hucksterism and I'm not sure that is a good message. But then I have never leased anything in my life and have always viewed car leases as a trap for the timid and poorly educated. Strictly old school....Demand is strong and there is no significant marketing. Why not spend the money on building the image instead of cheapening it. Open new stores and let people see them and drive them. Also, where are the new superchargers and service centers? Why aren't they on the website? I know for a fact that the St. Louis, MO service center is open and has been for weeks. I've been there and seen new Teslas being prepped for delivery. But it still shows as coming.

 

[yobigd20]

You're right. I wonder if that is with the Performance Plus package with stickier tires or standard Performance option.

"Performance Plus upgrades an already impressive handling car by stiffening key suspension linkages and tuning dampers to increase lateral stiffness
without compromising ride 21” wheels with wider rear rims and Michelin Pilot Sport SP2 tires channel these improvements to the road. The result is nothing short of amazing—light. responsive steering with minimal body roll- It's a performance junkie's perfect daily driver."

 

[v12 to 12v]

That can't be all there is to it... could it? Leasing? That's tweet worthy but not press conference material.

(Still waiting for my video feed confirmation.)

 

[CapitalistOppressor]

Website is up but they better fix it. Notice my finalized Design for 40kwh suddenly turned into an 85kwh model.... And officially 40kwh model is gone on the website.

Smooth move by Tesla. Should generate some additional revenue for the company :tongue:

 

[Puyallup Bill]

Yawn, back to sleep.:-(

 

[DavidM]

That was it. A leasing plan that is personally backed by Elon Musk. Didn't have it before, now it's available, so I guess it's good for customers with high income that want to lease the car. But it's really not a $500 /month payment. The real cash outlay is closer to $900 /month. Every time somebody says "hey, what's your time worth" they want me to pay more than I can really justify.

Personally, Yesterday's news was bigger. On the bright side, it wasn't bad news.

 

[CyberDutchie]

New details and pictures on drop-in console--coming summer 2013.

Shop Tesla Gear Drop-In Center Console

 

[Benjam]

Very interesting. Let the debate on leasing vs. owning commence :scared:

 

[Stoneymonster]

The standard 85kwh now says 5.4 seconds as well.

 

[ElSupreme]

It isn't a lease! It is a financing program with a buyback guarantee, price pegged to a MB S Class.