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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

By Anthony Garreffa on May 4, 2013 at 10:37 pm CDT - 0 mins, 49 secs reading time

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.

Tesla partners with some banks for some in-house financing for Model S buyers | TweakTown.com

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.

Last updated: Nov 30, -0001 at 12:00 am CST

Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games to be built around consoles. With FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with high-end, custom-built PCs. His addiction to GPU technology is unwavering, and with next-gen NVIDIA GPUs about to launch alongside 4K 144Hz HDR G-Sync gaming monitors and BFGDs (65-inch 4K 120Hz HDR G-Sync TVs) there has never been a time to be more excited about technology.

NEWS SOURCE:techspot.com

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