Apr 2, 2013
Volker.Berlin This is it: "$500 per month"
Just went online: Tesla Motors�
Apr 2, 2013
jeff_adams Looks like a new type of leasing program, with option to buy and a guarantee of value at the end of the lease. Interesting....�
Apr 2, 2013
blaz Tesla website updated 5 minutes before the announcement:
�
Apr 2, 2013
yobigd20 yea, I was hoping for something more major. http://www.streetinsider.com/Press+Releases/Tesla+Unveils+Revolutionary+New+Finance+Product/8227245.html�
Apr 2, 2013
SoCalGuy A lease program? Ugh. #letdown�
Apr 2, 2013
yobigd20 http://www.teslamotors.com/about/press/releases/tesla-unveils-revolutionary-new-finance-product�
Apr 2, 2013
Majerus Tesla Unveils Revolutionary New Finance Product | Press Releases | Tesla Motors
is that it�
Apr 2, 2013
jbherman Meh...�
Apr 2, 2013
Volker.Berlin Yep! I was first!Love it... Now where's that live stream? The investers relations part of the website is totally mingled for me, since it just went back online.
�
Apr 2, 2013
AnOutsider Megayawn. No wonder kruggerand defended it so hard
...looks like I wasn't the only one bored though. IMO, Tesla needs to save the hype for when they have a truly hype-worthy announcement. We all knew leases were coming, and this lease option, while cool, isn't as revolutionary or amazing as they're making it seem. Yet another reason to not get excited when Elon and George do.�
Apr 2, 2013
Kaivball Smart move.
Tesla is generating more demand.
Damn, I wish I'd have waited one month...�
Apr 2, 2013
Soulopoulos Poor TeslaMotors webmaster... The site is completely down while thousands of people are trying to connect to receive to big announcement. Strange there is no word from @TeslaMotors on the site being down... broken... scrambled. More luck on the conference call?�
Apr 2, 2013
Majerus I say we tie...�
Apr 2, 2013
yobigd20 �
Apr 2, 2013
smartypnz My option to purchase warranty has disappeared�
Apr 2, 2013
RubberToe Is the ir.teslamotors.com website not working properly?�
Apr 2, 2013
K Hall That is awesome! $500 a month! Who couldn't afford a Model S now? Ill take 3!�
Apr 2, 2013
Teslawisher 2:01 PST 283 users browsing this thread. (115 members and 168 guests)�
Apr 2, 2013
Volker.Berlin Well, to be fair, I was actually fourth... :-/ Anyway.�
Apr 2, 2013
mlascano Just got this email. Leasing wins!
�
Apr 2, 2013
Yuri_G Anyone with a link to the webcast?�
Apr 2, 2013
clea try again ... i was in a minute before you ...�
Apr 2, 2013
joefee Not bad but I hope part 3-5 on the �Trilogy� are �bigger!�
Elon�s 5 part Trilogy�
Apr 2, 2013
JRod0802 Direct link to event. I'm listening now. It's still just music:
ir.teslamotors.com/eventdetail.cfm?eventid=127665
Edit: I found it in the "page source", because the page was messed up. I had to do some "tabbing" through the page to reach the fields I needed after that in order to actually listen to it.
Edit 2: "Ladies and gentleman, thank you for holding, your Tesla Motors conference call will begin shortly, thank you for holding."�
Apr 2, 2013
Nikoli Lease program -
Tesla Unveils Revolutionary New Finance Product | Press Releases | Tesla Motors�
Apr 2, 2013
rabar10 From their press release:
Sounds like the $500 number is not the lease payment -- add the price you would spend per month on gasoline for an ICE, "other factors", etc. to get to the actual lease payment amount. Will hopefully get those precise numbers (either $/mo or % and term of financing) in the call.�
Apr 2, 2013
SoCalGuy It's not actually $500/mo... its actually quite a bit higher... more than double actually. That $500 is some fuzzy math Tesla did to say you pay $1100/mo on the lease, but you save $200 on gas, plus you save a trip to the gas station so if you're time is worth $100/hr, that's $100/mo in savings, etc. Very wonky if you ask me.
- - - Updated - - -
That 'true cost' calculator is here: http://www.teslamotors.com/true-cost-of-ownership�
Apr 2, 2013
jeff_adams This news has to crush the shorts and ramp up the stock price. Tesla was profitable without this option, imagine the orders now.....�
Apr 2, 2013
joefee live call on now!!!!!�
Apr 2, 2013
ModelS8794 Hmm, this also looks new on the pricing page, new option for the P85:
Performance Plus Package -$6,500
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.�
Apr 2, 2013
strider Yep, leasing on the web site: True Cost of Ownership | Tesla Motors�
Apr 2, 2013
napabill Boring! Sure be nice if those new leased S's had a place to Supercharge. Into 4th month and nothing. This is becoming worrisome.
�
Apr 2, 2013
drinkerofkoolaid While this is amazingly cool, I want to know who let this cut of the video get published. Elon is cross eyed for the entire thing :/�
Apr 2, 2013
aznt1217 stock down. crap�
Apr 2, 2013
ADN_ModelS I just configured my Model S configuration (Performance with everything) and it's $1516/month ($1466/month if you remove monthly gas bill)... so, a bit higher than $500.�
Apr 2, 2013
jbherman More "updates" to come weekly. Sounds like this is just the beginning...�
Apr 2, 2013
ElSupreme It isn't really even a lease program. Just at guaranteed buyback program. And 3% interest over 5.5 years. Yawn. Basically what I already have.�
Apr 2, 2013
medved what color?�
Apr 2, 2013
AnOutsider Now this is something I can get excited for. Wonder if retrofits will happen?�
Apr 2, 2013
qwk Yawn. More Elon fluff.�
Apr 2, 2013
joefee No retro LEASING for current owners��
Apr 2, 2013
psychogenesis Mercedes S Class Residual value, right? Here is a slide that might not help our cause - In Pictures: Cars That Lose Their Value Fastest - Mercedes-Benz S-Class - Forbes.com�
Apr 2, 2013
keys Good news, but not revolutionary at all. I reckon he shouldn't have said "arguably more important". I think making a profit is way more important than offering some "me2"-financial product�
Apr 2, 2013
sp4rk Design shop now says 2 months delivery for performance, 3 for 60k battery.
Some test cars are immediate delivery?�
Apr 2, 2013
Johan Listening to him talking now... While in some way I can understand his enthusiasm and he has probably engaged himself very personally into this deal and is proud of it, I think qwk is right: a bit of fluff. Also, there is a possible down-side to this: it kind of "cheapens out" the Model S - as with anything you can buy, if there is a cheaper way to own it (or essentially own it) then the exclusiveness of the car goes down. It can make it less desirable for some buyer groups. The Gen III was supposed to be "the people's car", not the S...�
Apr 2, 2013
SoCalGuy FYI the website also lists the 0-60 time for the Performance model as 4.2s not 4.4s as it previously did.�
Apr 2, 2013
Tesla 940 Good
I sold at $45+. Not the peak but close. Waiting for sub-$40.
Maybe this original tweet was really nothing more than an April Fool's joke. By the reaction of most members in this thread that appears to be the concensus.�
Apr 2, 2013
ElSupreme But is still is $1k+ a month in reality. It isn't any different than a 3% purchase. Except Tesla does that tax credit for you.�
Apr 2, 2013
PopSmith I noticed this as well and it's not very Tesla-like (I would even say it's more Detroit-like) is my opinion.
While I'm a diehard Tesla fanboy their math is just crazy. Time may be money but a base lease payment of $1081 (2.95% APR, 10% down and 66-month term) is far different than the headline number of $477/month. :scared:�
Apr 2, 2013
K Hall More demand = build more cars. he said "we have a big factory"�
Apr 2, 2013
viperboy And it's not a true lease of X grand down, 500 per month, and you turn it in after 36-48 months. I definitively would have gone for that. A bit misleading imo.
EDIT: Although this does seem to have an interesting effect on the CPO (certified pre-owned) market for 3-5 years down the line. If the S-class is a 54% residual value (as stated below), and Tesla refurbs and resells at 65% residual value, a 3 year old model S goes for between 40-70k depending on options.�
Apr 2, 2013
michaelwb This will disappoint those hoping the announcement was about making Model S more attainable. In essence, this is nothing more than a low-interest finance program (2.95% APR over 66 months, according to the calculator) with a buy-back program after 36 months. The former is something practically all manufacturers offer, while the latter is something Hyundai did a few years ago with their Assurance program. Lease residual values, on the whole, tend to be conservative (i.e., you're likely to get more from your car selling it on your own--an option some people exercise lease-end when there's still equity in the vehicle) and they vary depending on the month and year. It should be interesting which S-Class residual value Tesla chooses.
For example, for March 2013 the residual on the lame-duck S550 is 54% at 36 months, 15,000 miles a year. When the all-new S-class comes out, it will likely be higher by more than 5%. Tesla's in it to make money, not volume, and they have enough demand where they don't need to offer subsidized lease deals. Those hoping to lease a $60,000 car for $300/month and $0 down payment will have to stick with the E350 BlueTEC for now, as I've done myself. The major automakers can afford to have screaming good deals from time to time; Tesla can't.�
Apr 2, 2013
Right_Said_Fred In the end it probably is good news for Tesla - more sales - but it feels like it was hyped too much.�
Apr 2, 2013
gregincal I think the original tweet was perfectly fair. Putting his money where his mouth is in a very big way. He's personally guaranteeing the resale value of a Model S after 3 years (does that mean that if Tesla enters bankruptcy he will buy them back himself?). The followup tweet about this being bigger than profitability, however...�
Apr 2, 2013
ohaq $1,048 / mo: 60kwh with no options
$1,167 / mo: 60kwh with tech package, leather seats and air suspension (what i want)
$1,427 / mo: 60kwh with everything, all options selected.�
Apr 2, 2013
Robert.Boston Wow, 26% residual value after 36 months? That completely bites.
Update: Elon claims 42% on trailing 12-month S550.�
Apr 2, 2013
joefee Elon � expect lease would be the way to go� for most buyers�
Apr 2, 2013
JRP3 Yup, double yawn. I mean yes, it's a good move, I guess, but waaayyy over hyped. Definite wolf crying, who's going to get worked up about his next "exciting" announcement?�
Apr 2, 2013
aaron0k Any mention of the mileage allowance?�
Apr 2, 2013
yobigd20 Uh this is not a lease, right? it's a purchase loan with terms that give you the option to resell the car to Tesla after 36 months at the residual value of the car similar to a lease .. or you can just keep paying for it until the loan's paid off. As far as I understand, the title is in your name, it's your car, with the bank as the lienholder just like any other auto-purchase. The other difference I think is that the bank itself is providing the 10% down payment, and they are getting the $7500 government rebate to cover this (you cannot claim it).
please correct me if any of that is wrong above but thats how I am reading this�
Apr 2, 2013
AnOutsider Not this guy.�
Apr 2, 2013
ModelS8794
The S550 is the target, indeed, and looks to float with changes to the ALGs S550 residual over time:
Welcome to the Tesla Family! Your vehicle identified above (�Vehicle�) qualifies for our "Resale Value Guarantee". We guarantee that your vehicle will have a resale value after 3 years of at least 43% of the original purchase price (exclusive of taxes, fees and accessories) of your vehicle. This resale value percentage is based on an average of the last twelve months of residual value percentage for a three year old Mercedes S550 as established by Automotive Leasing Guide. The dollar value of your Guaranteed Resale Value is indicated above. During the period between 36 months to 39 months from your Guarantee Effective Date, you have the option to sell your vehicle to Tesla for the Guaranteed Resale Value.�
Apr 2, 2013
yobigd20 if its not a lease but instead a special loan financing purchase plan, I don't think there would be any mileage allowance
- - - Updated - - -
I think he said 46%�
Apr 2, 2013
gregincal Actually, reading closely I think not even that. They are just saying your 10% down payment will be "covered" by the tax credit. In other words you will get it back from the government when you file your taxes. Since it isn't a lease I don't believe there is any mechanism for them to get the tax credit on your behalf.�
Apr 2, 2013
viperboy Given the 43% number here, I'll plan to buy a CPO 3 year old model S for 50-60% of the asking cost today. Makes it affordable for myself anyways.�
Apr 2, 2013
ElSupreme Exactly it is a purchase financing program. That helps with the federal tax breaks (and incidentally cuts the Georgia Tax rebate in half). Plus you pay $8 a month to guarantee a buyback value after 36 months, but that value is pegged to an MB S class.�
Apr 2, 2013
Silenus136 I suspect the stock market will see this for what it is - a necessity to keep sales volumes up since the Tesla model crumbles the moment the factory has to run at less than full capacity or produce unsold cars. Existing car companies are massive enough to tolerate such swings in demand, basically cause of scale and the fact their financing/leasing arms are the real engines of their profits. Long term, anything that gets more orders into the factory without discounting prices is great for us owners and for Tesla. Short term, IMHO this will strike a little fear into the market regarding Tesla's sensitivity to order volumes.�
Apr 2, 2013
Robert.Boston HERE is the resale guarantee.
Note:
- 43% resale value
- Maintenance by Tesla
- Mileage > 12,000/year reduces resale by $0.25/mile
- Non-transferrable
�
Apr 2, 2013
EarlyAdopter Elon just said something very significant - the buyback rate will be the residual rate of a Mercedes S Class or the then current market rate for a used Model S, whichever is higher.�
Apr 2, 2013
ModelS8794 The financing co. will finance the initial 10% down in addition to the rest of the car:
US Bank and Wells Fargo will provide 10% down financing assuming a good credit rating, and the down payment is covered or more than covered by US Federal and state tax credits ranging from $7,500 to $15,000.�
Apr 2, 2013
yobigd20 my bad, there is mileage terms -
�
Apr 2, 2013
aaron0k Found the answer on the sample resale guarantee. 12k per year. Over = $0.25 per mile.�
Apr 2, 2013
drinkerofkoolaid Just a guess. I'd be willing to bet there are many people who would love to buy a Model S, who can't afford it. A Signature Model S costs about the same as a $40,000 car. I'd be willing to bet there are many people who would love to buy a Model S that can't buy it. If I understand correctly, Tesla is offering people the opportunity to own the Model S for 36 months, at a normal financing rate, with a guaranteed trade in price after 3 years. This doesn't diminish the cache of the Model S, and makes it possible for more people to buy the Model S. Isn't this very good?�
Apr 2, 2013
aznt1217 If you think about it... after your disappointment or euphoria seeps in this is actually a revolutionary plan and puts a lot at ease for smart luxury consumers. Wealthy people absolutely hate not building equity. Leases are literally throw away money and are only bought to switch cars more often. This plan allows for an insane amount of flexibility and no guilt. Also 0 down is huge.�
Apr 2, 2013
AnOutsider Given some of the hassles roadster lease owners are having on trade in, I'm not sure I'd trust tesla to that.�
Apr 2, 2013
lolachampcar I think we just got the real answer on Tesla's backlog........ Burn through the early adopters then come up with creative ways to market the car (without advertising - yet).�
Apr 2, 2013
michaelwb Thanks for sharing. The ALG residual value is lower than the MBFS figures on which actual leases are based. Practically everyone will be better off selling on their own, or even to CarMax, IMO.�
Apr 2, 2013
blaz I found the announcement a bit underwhelming, but it looks like there's three other announcements coming up one per week for the next three weeks (discussion here). From the Mercury News liveblog:
�
Apr 2, 2013
yobigd20 If only you can claim the tax rebate, then I bet the banks term's have you signing this over to them. I don't know how that's going to work if you don't have any tax liability though.�
Apr 2, 2013
jdevo2004 My understanding is that if you purchase a Model S for $100,000 that Tesla will purchase it back for $43,000 after 3 years. Is this correct?�
Apr 2, 2013
Robert.Boston I'm not a tax expert, but isn't this structure less favorable than a true lease?�
Apr 2, 2013
joefee call ends�no other news�
Apr 2, 2013
tander I'm surprised people seem a little upset over this. It was a little overblown, but this opens the Model S to more people, which means more cars sold, which means more revenue. It's not exciting as Gen III but it's still a good thing.�
Apr 2, 2013
Johan So Tesla is facilitating a loan for the buyer at a bank, and at the same time offers the customer a "way out" after 3 or 5 years, with a buy price of 34% of the original purchase price after 3 years? And the goal of all this is that people who wouldn't normally consider buying a $100k car will now "realize" that they can afford one? Does this not make the S a bit less exclusive? And it gives me some associations to the way some institutions were pushing houses/real-estate to people who couldn't really afford it a few years ago... something that didn't end very well for the economy right?�
Apr 2, 2013
yobigd20 guaranteed buy back at 43% purchase price of the car after 36 months. So you buy a $100k car, and 3 years later they buy it back from you at $43,000. In other words, you rented a car for 36 months and paid $57,000 for the rental. Actually the bank is fronting 10% so I guess in the end you rented it for $47,000.�
Apr 2, 2013
EarlyAdopter Many people, particularly busy professionals, do not have the interest or time to deal with selling a car, but do want a new car every 3 to 5 years. This seems particularly well targeted to that audience.�
Apr 2, 2013
drinkerofkoolaid This just occurred to me. One of the most important part of this guarantee might be protection from battery prices collapsing if some new battery technology is released within the next few years that allows for twice the range at half the price.�
Apr 2, 2013
aznt1217 Not at all. With leases in Luxury car companies it requires a downpayment. This is a 0 down lease which is extremely straightforward. It's also pegged to an indicator in the market and is doing a guaranteed value, there's no need to negotiate capitalized cost which is a huge hassle.
The key here is lost in emotion, the goal of this program is to get widespread adoption and have people try the product out. You build equity with the option to opt out. This is absolutely huge because with a lease you don't own anything.�
Apr 2, 2013
sp4rk You mean 43%, no?
I think it changes little. Creative financing?�
Apr 2, 2013
ModelS8794 If indeed residual values for Model S turn out better, then yes, that is true. but the point here is that residuals are still a big unknown, and for that segment of the population that wants the car but is used to leasing or used to having a certain comfort about what they'll get on the back end when they decide to sell, this announcement opens up Model S to them with a guaranteed resale value that says a Tesla purchase will not turn out to be any worse than the Merc they may have otherwise chosen.�
Apr 2, 2013
dave Announcement is less exciting for those of us that have already purchased the car.
Personally I'm a little shocked at the reality that my $100K car may only be worth $43K in less than three years. It may very well be accurate but I had chosen not to perform those precise calculations yet.�
Apr 2, 2013
gregincal I still maintain all it means is that they are pointing out that your credit from the government will be greater than what you paid in your downpayment. I see nothing in the text that promises otherwise (it all depends on your interpretation of the word "covered", but it definitely states a 10% down loan).�
Apr 2, 2013
joefee What is the impact of this finance program on the resale for a Sig Perf ???�
Apr 2, 2013
sp4rk +1, but I am not looking at my purchase as a 3 year one. What will my car be worth to me in 10 years? Huge difference.�
Apr 2, 2013
Krugerrand None. A Sig is a Sig is a Sig. Limited number produced always and forever.�
Apr 2, 2013
EarlyAdopter Tesla will buy it back at $43,000, or the going rate for a 3 year old Model S, which ever is higher. You're guaranteed to get at least $43k, but likely more. This is the part that's key - Tesla is offering a floor on the residual value, it will be no lower than this, but in reality it's just a buy back option at the going rate. Easy to unload the car, get KBB trade-in value, or MB S Class residual should the resale value have plummeted.
Most of us here know it won't plummet, but there are people out there who fear that and won't go near an electric car for that reason.
Most of us here would just as well hold on to the car for a long, long time and shop around for lower interest rates, but there are people out there who like a new car every 3 to 5 years.
Most of us here would spend a little time and try to get more than dealer trade-in for our used Model S, but for many people just being able to drop off the car at year 3 and get a new one is very valuable.
Basically, this clearly isn't targeted at most of us here, as most of us here already bought the car!�
Apr 2, 2013
dave I'm mostly disappointed at all the games they're playing with the numbers and hyping.
Really, you can't just give me a residual value dollar amount? You have to reference a completely different car so I can't do the math myself?
Plus all the shenanigans about what my time is worth. IMO the financing page for a vehicle should contain the financing info - the hard numbers. They're still playing marketing games \which I personally do not care for.�
Apr 2, 2013
Volker.Berlin Well... Is it unfair to summarize it like this? Tesla wanted to offer leasing from day one, but given the fact that they are still small and new in the business, and the Model S is such an extraordinary car in every meaning of the word, they could not get any bank behind it. Thus Elon saw fit to back up the Model S' residual value with his own money, which finally convinced some banks to at least do financing with Tesla. Since they wanted leasing in the first place, they called it leasing and emphasized the advantages of financing over leasing at the same time... Is that it?�
Apr 2, 2013
dave Less than $43K.�
Apr 2, 2013
EarlyAdopter What are you talking about? The financing page does contain the info and hard numbers.
Why so much hate around here? I'm sorry you're not excited about this announcement. Repeat to yourself, "I am not the target of this announcement. I already bought (or am about to buy) a Model S. This brings in new buyers different from us. This is ok."�
Apr 2, 2013
AnOutsider Sounds about right, and explaining it that would probably would have gone over better than the games they're playing.�
Apr 2, 2013
aznt1217 They can't even give you residual value of the car because there's not a secondary market to reference, they are using an indice. It's common practice.
�
Apr 2, 2013
sp4rk I dunno. The only major depreciation will be the batteries. $30k. Say worth $10k or less than. But I still have a perfectly viable shell, motor; etc. And I expect I can still drive it for another ten years.
When he compares to Merc S Class ... which model? S500? S550?�
Apr 2, 2013
aznt1217 I don't think it's a game. They negotiated something that's never been done before. Using a tax credit as a downpayment in convincing a bank is an enormous task. Tesla needed sample data from its current consumers and Elon's backing as collateral to even convince their bank partners to do so.
This gets rid of the whole should I lease or buy a car conundrum that people face by offering a price floor and equity building. More importantly, if it gets your person who leases over the hump to get into the car it might convert them to buy. 0 down. Fixed payments. done. It isn't leasing if you are building equity.
- - - Updated - - -
He referenced the S550. The S500 aren't made anymore.�
Apr 2, 2013
EarlyAdopter By the way, let's give a round of applause for the 27 people who correctly guessed the nature of today's announcement. We'll all be counting on you to correctly guess the next announcements that evidently are going to be coming "every week or two."
"Tesla/Elon to set up financing/leasing program. 27 10.55%"�
Apr 2, 2013
michaelwb From what I understand, it's not truly $0 down. Rather, you front the 10% down, and get that back (and change) from the federal tax credit and state rebates. And I'm not sure why I'd want to build equity in such a heavily depreciating asset.�
Apr 2, 2013
30seconds Given that the current shift is at max capacity and essentially sold out for 2013, a reasonable bump in demand from this program may trigger production expansion into second shift. Would be a very near term and sizable impact to the bottom line. Will be very interesting to see if there are any comments during the May call on the adoption rate of the program�
Apr 2, 2013
WarpedOne Help me out here ... I buy 60kWh at GRV program at ~$1000/month. After 3 years I've payed $36k in total for a car and Tesla buys it back paying me 62k*0,43 = ~$25k.
Those 3 years of owning and driving a new Model S had cost me $36 - $25k = $11k in total? Effectively only ~$300/month?
This cannot be?!??�
Apr 2, 2013
cdabel While the guaranteed buyback will certainly be attractive to many, the silly numbers game they play to get to $500/mo is borderline contemptable, and beneath what I�ve come to expect from Tesla. Shame.�
Apr 2, 2013
spentan Bah, nothing special for us in Australia,
Bring on production of RHD vehicles pleeease.
The finance situ in the USA is fkn awesome though, wish we had something similar,
but with automobile pricing being more than double that in the USA, I doubt it'll be affordable to the masses.�
Apr 2, 2013
Russell Today's announcement will create more sales. How can people complain about that?
This "Lease-to-Own" program is good for everybody except the people that plan to pay for the car outright.
The reason he compares it to a Mercedes is to get those buyers to take a look at the Model S.�
Apr 2, 2013
Johan No, it cannot. You can not sell what you do not own. Tesla buys it back from the bank, paying them $25k.
Your cost for the three years have been just that $36k or $1k per month.�
Apr 2, 2013
ohaq Elon always said the lease will be comparable to BMW 5 Series. I dont see how.
$669 for 36 months, $3,500 Down payment based on MSRP of $70,395.00.
This becomes $776 / mo
My configured Tesla is 1167 / mo
Ok now lets add the gas saving 10,000 miles at 3.75 gas price, BMW does 23mpg highway and Price of electricity (kWh) is 0.13, according the site it says i will save 100. Lets say the lease includes the maintenance $600 per year, then I save $50 more. saving of 150 per month
Tesla comes to $1000, and BMW $776.
Now don't say go get a BMW. I want a tesla.�
Apr 2, 2013
Russell B People love the S. Whenever I take it out, I get positive comments and "thumbs-up" instead of the nasty looks when I drove other high-priced cars. However, many have said: "wish I could afford one". Frequently these people are in nice cars in the $60,000-80,000 range. They spend thousands a year on gas, oil and other servicing needs. They sit in freeway traffic wasting time.
Now Tesla comes along with a leasing plan that shows what the true cost is of a Model S, taking typically ignored expenses into account. The tax credits cover the down payment, the lease payments are similar to other high-end cars, but they are offset by reduced fuel and maintenance costs. This is good stuff.
When I took delivery of my Tesla, my biggest fear was Tesla going under because not enough people would buy them. Anything that improves sales of a remarkable car is good for me as both and owner and stockholder.
VIN 1920 P85�
Apr 2, 2013
Robert.Boston I think the website is fine; the TCO calculator is very clear, letting you alter the assumptions. Where I think there's an issue is:
- The headlines will all read "$500/month to lease a Model S", and that ain't so (and Elon and Tesla did qualify the $500 as a net cost after considering other savings);
- The optimistic assumptions needed to generate the $500/month. When I plug in my numbers, I get $810/month. For example, if whatever vehicle I get is going to be used for business, then there's no net ?savings from this program.
�
Apr 2, 2013
ModelS8794 The reverse actually. The financing bank fronts you the 10% down, and you pay it back (at tax time, I presume) once your tax rebates clear.�
Apr 2, 2013
Russell
Are you sure? What happens to the original loan balance? Walking away from the car after 36mos with no payoff sounds too easy.�
Apr 2, 2013
Kaivball Website now shows P85 0-60 time at 4.2 seconds.
Used to be 4.4 s IIRC�
Apr 2, 2013
Russell B I think the MB Model S depreciates much faster than other MB models and definitely faster than a Tesla. They chose this backstop for that reason, in my opinion.�
Apr 2, 2013
gregincal What's your source for this information? I haven't seen anything that specifies how the down payment is handled.�
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