Tesla Motors has announced a new financing option for consumers that want to get their hands on a Model S vehicle in the terms of a lease. The lease is based on three years. Monthly payments after fuel savings costs and other maintenance will be around $500 or less.
The financing plan gives users the chance to sign up for a 5-to-7 year loan with an option to get out of the financing offer after the first 3 years. Tesla will buy back the car if you want to get out of it. Musk believes that the Model S will retain it’s value during that time.
“We want to combine the best parts of ownership and leasing,” stated Tesla Motors CEO Elon Musk in a press conference. “We want to make the car more broadly affordable for people.”
This type of financing is different from every other type of deal that is available for auto consumers. You will definitely need good credit to qualify for this vehicle.