Wednesday, August 24, 2016

Tesla Offering Two-Year Lease for Model S and Model X


Tesla recently fell under criticism for overstating figures for the first and second quarters of 2016. Now, Tesla has announced that for a limited time, you can get a Tesla Model S or Model X under a two-year lease program. And, by limited time, I mean you have to do it by September 12, or you’re out of luck. This obviously drops the cost of owning a Tesla a little bit, but how much?

Well, we looked into it. A Model S under a two-year lease requires a $6,000 down payment, but the $2,500 deposit that is due on ordering is included as part of the down payment. Add in the $695 acquisition fee and the first month’s lease payment of $593 for a total of $4,788 due at signing. This gets you a 24-month term and 10,000 miles per year. This is, of course, for the Model S 60 with rear wheel drive – the least expensive model available. Going with the Model X is a little more expensive. It will set you back $4,925 due at signing with a monthly lease payment of $730.

On top of the initial money spent and the monthly lease payment, you’ll also be required to pay a $395 disposition fee when returning the vehicle. It is also important to know that the vehicle can be returned within the first 90 days of the contract for any reason, and Tesla will waive the remaining lease obligation.

Keep reading for the rest of the story





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