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Tesla partners with some banks for some in-house financing for Model S buyers

Future Tesla Model S buyers could have in-house financing through Tesla
| Technology in Vehicles News | Posted: May 5, 2013 3:37 am

Tesla Motors' CEO, Elon Musk, announced last month a partnership with two major banks that would see consumers enjoy the option of in-house financing when purchasing their Model S electric car.




Musk said that consumers could own the Model S electric car for less than $500 per month at the time, but has since revised these figures. Under the new plan, future owners of the Model S would expect the monthly cost to be around $580, which takes into consideration the projected savings from using electricity versus gas, depreciation and a few other factors. Tesla also notes that the cost for business use could be a low as $315 per month.


The new plan also involves an updated resale value guarantee, which states that the resale value on the Model S would be higher than Audi, BMW, Jaguar, Lexus or Mercedes. Tesla have also extended the amount of time an individual can finance a Model S from 63 months to 72 months, through Wells Fargo and US Bank.


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