Tesla Motors is now attracting mainstream car buyers, by offering a tempting financing option to all future customers of the Model S that wouldn’t have otherwise thought of purchasing an electric car.
Thanks to the collaboration with Wells Fargo and US Bank, Tesla Motors now provides financing of 10% of the cost of the Model S, which is then followed by regular monthly installments. After a period of three years, the customer has the choice to either sell the car back to Tesla, or keep it and continue with the monthly payments for the next five years.
Of course, the price of the resell might be one of the factors that determines the choice of the customers, however Elon Musk, Tesla CEO, guarantees the value would be the same as the one of a Mercedes S Class.
Another determining factor are the monthly payments, which have been predicted to be between $500 and $600, while the tax credit should cover the upfront cost.
Tesla claims that this leasing option is just like a traditional lease, however it provides the ownership comfort. It is specifically directed towards mainstream buyers, who either cannot afford or do not want to put too much money for an electric vehicles upfront.