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Thursday 8 December 2016
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Tesla Offering Two-Year Lease Deals

Tesla Offering Two-Year Lease Deals

With the highly anticipated Model 3 on its way, Tesla is looking to not only get more customers interested in its vehicles, but also for a way to remain in the spotlight before the release of its most affordable model. To entice customers into getting in a Model S or a Model X now, the automaker introduced a two-year lease option on both vehicles, but it’s not as affordable as you might hope.

Electrek reports that Tesla announced the new lease option in an email. According to the email, the two-year lease option was highly requested and brings the monthly payment for a Model S 60 to $593 per month. Some time on Tesla’s leasing support page, though, reveals that the $593 monthly payment is based on a $66,000 Model S 60 with no options, a down payment of $6,000, a 10,000-mile-per-year limit, and a 24-month term.

The automaker’s leasing support page has the Model X going for $730 per month. That figure is for a $74,000 Model X 60D with the same term, mileage cap, and down payment.

Tesla already offers the Model S and Model X with a three-year lease option. Going for the 36-month term on the Model S 60 results in a monthly payment of $667, but requires a lower down payment of $5,000 for 10,000 miles a year. On the Model X 60D, the same 36-month lease option brings payments up to $788.

The 24-month lease option for the Model S and Model X is only available for orders placed by September 12th. The two-year lease option could also act as a bridge for those who put in a late reservation for a Model 3, since they wouldn’t see the new affordable model for about that amount of time. It’s also a better option for anyone who likes to have the latest and greatest, beyond whatever over-the-air updates Tesla rolls out in the next couple of years. Since it could spur some sales, this could be a sign that Tesla is confident about leaving output problems in the past.