Tesla Model S Leasing Just Got A Lot Cheaper; 90 Day Returns
It was no secret that leasing a Model S in the past was…well, not such a great deal – a side effect of Tesla bankrolling its own EV leasing program.
However, that all changed over the weekend as Tesla CEO Elon Musk announced (full statement below) that US Bank had signed on to back new vehicle leases in North America, and as such the Tesla Model S just got a lot cheaper.
While Tesla still promotes the “gasoline savings” in lease advertising (which we find annoying), what had been a $1,051 minimum payment on a new 60 kWh Model S is now $777. The 85 kWh version now starts at $956, while the uber-performing P85D will set you back $1,461. (All payments include the federal credit applied, and about $6,500-$7,000 due at signing)
You can configure and price out your own Model S here.
In addition, a new ‘you can return it’ 90 day guarantee has been put in place.
Significantly Improved Leasing for a Tesla with US Bank
Tesla is pleased to announce that US Bank, which has a much lower cost of capital than us, is now offering very compelling leasing for Tesla buyers in the United States. This will lower monthly lease payments by as much as 25% on a new Model S. Detailed info here.
Leasing now also comes with the Tesla happiness guarantee. If you 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. The only catch is that you can’t then 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.
As always, leasing a car with Tesla involves no signatures or paperwork, unless required by your state DMV. You just read the super simple terms & conditions on the center screen, tap once and it is done.
Also, there is no need to come to a Tesla store to order our car. It takes less than 5 minutes to order a Model S at the TeslaMotors.com website, just like any normal buying experience on the Internet. You enter your info, specify when you want the car to arrive and it will be delivered to your local Tesla service center for pickup. If one of our service centers isn’t conveniently close, we will deliver it directly to your home or business location anywhere in the United States.