Tesla Kicks Off New Business Leasing Program for Model S | Edmunds

Tesla Kicks Off New Business Leasing Program for Model S


Just the Facts:
  • Tesla is offering a new business-leasing program for small and medium-sized businesses, essentially the first fleet operation for the company.
  • "Leasing a Model S takes 5 mins online, no signatures & one tap on car center screen to accept when delivered," tweeted Tesla CEO Elon Musk.
  • Terms include a $5,000 minimum down payment, a $700 acquisition fee, $300 disposition fee and 15,000 miles allowed per year, Tesla told Edmunds.

PALO ALTO, California — Tesla is offering a new business-leasing program for small and medium-sized businesses, essentially the first fleet operation for the company.

"Leasing a Model S takes 5 mins online, no signatures & one tap on car center screen to accept when delivered," tweeted Tesla CEO Elon Musk.

Terms include a $5,000 minimum down payment, a $700 acquisition fee, $300 disposition fee and 15,000 miles allowed per year, Tesla told Edmunds. The lease is a 36-month term.
Tesla is advertising its Model S business lease for $408/month, "including gasoline and tax savings," on its Web site.

"Our customers in small and medium-sized businesses have been asking for a leasing program for the ease and simplicity of being able to deduct payments from their business taxes," the automaker said in a statement on Tuesday. "We've been listening to those requests and we're happy to announce the launch of leasing for business owners."

It added: "In keeping with the Tesla way of doing things, our customers can handle and sign their lease agreements completely electronically. Customers are able to view an electronic version of the lease agreement upfront before delivery. Even the signature process at delivery is simple: a one-button tap on the 17-inch touchscreen in their new Model S is all it takes."

The business lease is available through Tesla Finance, a subsidiary the automaker has set up to offer this new product to business customers.

Edmunds says: Tesla provides another financing option for the Model S, one that should be attractive to business owners.

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