Tesla Offering Two-Year Lease for Model S and Model X
It’s a limited time offer, so better jump fast if you’re interestedby Robert Moore, on
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
Why it Matters
I know some of you are going to nail me for saying something negative about Tesla, but I really want to point something out. It seems like a pretty big coincidence that the cutoff date for this limited-time lease is September 12th. See, Tesla takes about three weeks to build a Model S or Model X after it has been ordered. That means, as long as you order it by September 12th, it can be delivered by the end of the second quarter. It seems to me that Musk is hoping to up those numbers for the third quarter after making such a mess when the first half of the year was misstated. Either way, it might not be a bad way to get yourself into a Tesla if you’re not looking to actually purchase one. On top of that, it’s nice that you have 90 days to return it if you just don’t fit into the Tesla lifestyle.
Read our full review on the Tesla Model X here.
Read our full review on the Tesla Model S here.