New Tesla Model S Lease Deal Lowers Monthly Payments | Edmunds

New Tesla Model S Lease Deal Lowers Monthly Payments


Just the Facts:
  • Tesla Motors rolled out a new leasing policy for the Tesla Model S electric sedan on Saturday that lowers the monthly lease payments by as much as 25 percent.
  • U.S. Bank is offering the new lease deal for the Model S.
  • The rates start at $777 per month, plus $6,477 down for the Model S 60, with delivery slated for late December.

PALO ALTO, California Tesla Motors rolled out a new leasing policy for the Tesla Model S electric sedan on Saturday that lowers the monthly lease payments by as much as 25 percent.

U.S. Bank is offering the new lease deal for the Model S. The rates start at $777 per month, plus $6,477 down for the Model S 60, with delivery slated for late December.

Tesla CEO Elon Musk said in a blog post if owners "don't like our car for any reason in the first three months, you can just return it and your remaining lease obligation is waived."

He added: "Leasing now also comes with the Tesla happiness guarantee."

However, Musk said once the car is returned, it would not be possible to immediately lease another Model S.

"Upgrading early is no problem if you want to do that, but there is a pass-through fee to cover the new vs. used value difference," he said.

The new lease deal is designed to make the Model S more competitive against rivals such as the BMW i8 and the Cadillac ELR electric cars.

Edmunds says: Tesla offers car shoppers who are in the market for a luxury EV a new deal with an escape clause.

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