# Own a Tesla Model S for $500 a month with zero down



## tim330i (Dec 18, 2001)

Tesla Motors announced today that, in partnership with Wells Fargo and US Bank, it has created a revolutionary automotive financing product that provides the best elements of ownership and leasing to Model S customers.

Most people throughout the world prefer to own their belongings, rather than rent what is essentially someone else***8217;s property via a lease. However, leases do provide some key benefits, particularly a low initial payment, tax deductions, lower risk on resale value and the convenience of returning a car without the hassle of reselling it personally.

Working with some of the largest and most respected banks in the country, Tesla has been able to create a new kind of financing product that combines the security and comfort of ownership with all the advantages of a traditional lease. Like the Model S, this product was created from the ground up to provide maximum benefit to consumers, rather than simply duplicating other financing programs that tend to favor companies at the expense of the individual.

*How does it work?*

US Bank and Wells Fargo have agreed to provide 10% down financing for purchase of a Model S (on approved credit.)
The 10% down payment is covered or more than covered by US Federal and state tax credits ranging from $7,500 to $15,000. New Jersey, Washington and DC also have no sales tax for electric vehicles. These advantages are not available when leasing.
When considering the savings from using electricity instead of gasoline, depreciation benefits and other factors, the true net out of pocket cost to own a mid-range Model S drops to less than $500 per month.
After 36 months, you have the right, but not the obligation to sell your Model S to Tesla for the same residual value percentage as the iconic Mercedes S Class, one of the finest premium sedans in the world, made by Daimler (also a Tesla partner and investor).
Not only is Tesla guaranteeing that resale value, but Tesla CEO Elon Musk is personally standing behind that guarantee to give customers absolute peace of mind about the value of the asset they are purchasing.


----------



## wyb (Jul 10, 2008)

this does look very interesting... I'm thinking of looking much closer at this later in the year...


----------



## Elias (Jun 26, 2005)

It will definitely be under consideration once my current lease is up!


----------



## MELLOWYELLOW06 (Mar 23, 2012)

I may grab one for the office.


----------



## brkf (May 26, 2003)

It's not really $500. There's some super fuzzy math going on. It's over $1000 a month and they make it seem like it's $500 because of your "savings" on gas and repairs. Hogwash marketing scam.

I have a feeling BMW's I3 will legitimately get you near $500 on a lease. And without weird numbers games.


----------



## K-A (Nov 12, 2010)

brkf said:


> It's not really $500. There's some super fuzzy math going on. It's over $1000 a month and they make it seem like it's $500 because of your "savings" on gas and repairs. Hogwash marketing scam.
> 
> I have a feeling BMW's I3 will legitimately get you near $500 on a lease. And without weird numbers games.


That's what I heard. It's NOT $500 out of pocket a month, it's more like $1,000 and their insane marketing tactics are literally deducting presumed "savings" (from what? How do they know what kind of car you had before?) from that to get to a "$500". If it truly IS $500, on a kind of "Rent To Own" basis, then it's indeed awesome. I for one like the idea of a Lease-like term but designed to actually own, instead of rent.

As for Tesla, those of you with BMW's or any German Premium manufacturer used to the immaculate fit/finish, perfect panel alignment, minimal panel gaps, etc.; as cool as some elements of the Teslas are, I wonder if I'm the only one completely turned off by the inherent quality, workmanship and fit/finish flaws on the car. The rear and front doors aren't perfectly aligned to each other, i.e if you run your fingers (or simply look) at the supposed continuity of the chrome border going along the bottom of the windows from rear to front door, you'll see not only a jarring gap between them, but the massive difference in position (your finger will hit the edge instead of seamlessly continue along). The car is full of this kind of stuff.


----------



## OBS3SSION (Oct 1, 2002)

I test drove a Tesla yesterday. Speaking with the associate, she said this "$500 per month" is a marketing ploy, and actually used the word "deceptive". I grinned and thanked her for being honest, since my wife and I came to the same conclusion.

I was wowed with how the car drove, and would order one in an instant simply because it's such a cool concept... if I had piles of money. Yes, you can nitpick fit and finish, and she actually addressed this as well by saying most people who have purchased Teslas already are early adopters and view it as "character".

In reality, a 60kwh non-performance Tesla with Tech, Air Suspension, Sound and the glass roof came up to $80K (sans tax credit). Add tax, and I'd be looking about something like $1300/mo with 10% down. I'd have to wait until January's tax claims to get my credit back which would cover a bulk of the down payment. Unfortunately... just too rich for my wallet.


----------



## mark_m5 (Sep 16, 2006)

I'd like a 1-month lease to see how I like it. Do they offer a 1-month lease, I wonder?


----------



## K-A (Nov 12, 2010)

mark_m5 said:


> I'd like a 1-month lease to see how I like it. Do they offer a 1-month lease, I wonder?


Lol. Is that a serious question? That would be the worst business move they could make. :tsk:

I was at a Tesla Store yesterday.... incredible how hyped up this car is, how many people are so interested in it.... the Store was packed, people fawning over it like some exotic. And rightfully so, I've become a huge fan of this car and think it's spawning the next revolution which will ultimately make our gas engine cars akin to a horse and carriage. I already feel like gas powered engines are dated and almost obsolete, even though I live for the sounds they make and the emotional connection you can feel with them.

The one car out there who I'd move on from my 5er for is possibly a Model S. However, when you see just how much a moderately optioned 85kw powered car goes for, it's more in line with S-Class/750i Lease prices, after disregarding the marketing fluff to trick you into thinking that it's "cheaper". With the gas savings.... it could be worth it.


----------



## Keepittrill (Jun 5, 2013)

K-A said:


> Lol. Is that a serious question? That would be the worst business move they could make. :tsk:
> 
> I was at a Tesla Store yesterday.... incredible how hyped up this car is, how many people are so interested in it.... the Store was packed, people fawning over it like some exotic. And rightfully so, I've become a huge fan of this car and think it's spawning the next revolution which will ultimately make our gas engine cars akin to a horse and carriage. I already feel like gas powered engines are dated and almost obsolete, even though I live for the sounds they make and the emotional connection you can feel with them.
> 
> The one car out there who I'd move on from my 5er for is possibly a Model S. However, when you see just how much a moderately optioned 85kw powered car goes for, it's more in line with S-Class/750i Lease prices, after disregarding the marketing fluff to trick you into thinking that it's "cheaper". With the gas savings.... it could be worth it.


Scottsdale Fashion square has a Tesla store and it's always empty. I've never seen a single person inside.

Sent from BimmerApp mobile app


----------

