Tesla Introduces New Financing Scheme for Model S

Edmunds.comEdmunds.com Member, Administrator, Moderator Posts: 10,237
edited September 2014 in Tesla

imageTesla Introduces New Financing Scheme for Model S

Tesla introduced a new financing product for customers of its Model S on Tuesday.

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Comments

  • vogeygolfvogeygolf Member Posts: 1
    Anything called a scheme needs to be closely evaluated. First of all, the residual value of a S550 is no great shakes. The Tesla S is priced more like a 5 series BMW, so 43% isn't that great.

    Secondly, is there a possibility Tesla will not be in business? If they are broke, they won't be buying cars back.

    Finally, their online "calculator" calculating "net out of pocket payment" doesn't sound like a Truth in Lending compliance disclosure. The real payment will be MUCH higher, and uses gas savings, depreciation savings, etc., to come up with that number.

    I'm reminded of all of the tricky stuff Mitsubishi Motors US was doing 10 years ago to sell cars. Killed their brand. Won't be long until they pull out of US.

    Either the Tesla has value, and people want to buy it because it is a superior product, or it doesn't and people won't.
  • rjettrjett Member Posts: 24
    Also, the numbers they're using are for the base model. Didn't they just announce they're discontinuing that model based on lack of demand?
  • greenponygreenpony Chicago, ILMember Posts: 531
    I priced a Model S, base model, with some options. Although I'd save nearly $2,000 a year in fuel, my actual monthly payment (60 mo, 2.95%) would be almost $1,200 even after incentives and ~10% down. Funny that when I plug numbers into their calculator that I get about $700 a month.
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