Elon Musk wants to remake the entire auto industry in his vision, from the car to the dealership experience, and even how you pay for your Tesla automobile. AutoExpress reports that the electric automaker has a new line of leasing deals for buyers in the UK who aren’t quite ready to delve 100% into the Tesla ownership experience.
The Model S launched in the UK this summer to much fanfare. but now it’s time to get down to business. Rather than just copy similar deals from other automakers, Tesla claims they’ve created a no-gimmicks finance plan that lets buyers put down a 15% deposit and, after three years, sell the car back to Tesla for at least 50% of the price. Or buyers can continue with the terms for between 48 and 72 months at a 5.9% interest rate that Tesla estimates costs about $1,300 a month. Drivers who go over the 15,000 mile annual limit will be charged 17-pence for every mile of overage if they opt to return the car.
This deal is meant to help bridge the worry of some would-be buyers that their $70,000+ electric car could be worth a pittance after just a few years on the road. Though Tesla has done its best to educate buyers, many buyers still have misgivings about buying into technology that hasn’t fully proven itself yet.
Still too expensive for your budget? You’re not alone, though give it another year or two and the first wave of used Teslas should be hitting the preowned market. ELon Musk has a plan for that market too, though hopefully the lower cost makes the Model S more widely available to us mere commoners.