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.

@anthony256
Published Sat, May 4 2013 10:37 PM CDT   |   Updated Sat, Aug 8 2020 10:29 AM CDT

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.

NEWS SOURCE:techspot.com

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. 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 custom-built PCs. His addiction to GPU tech is unwavering.

Related Tags

Newsletter Subscription
Latest News
View More News
Latest Reviews
View More Reviews
Latest Articles
View More Articles