“Low/Cheap” Tesla Leases Extended Through September 30th
Tesla’s relatively recent introduction of “low/cheap” leasing rates will run through the end of September, according to recent reports.
Of importance to those looking to get a new Model S without spending a fortune, these low rates will continue to apply to the Tesla Model S 60 — which is, of course, the cheapest option available from the company, featuring “only” a 60 kilowatt-hour (kWh) battery pack (which is actually a software-limited 75 kWh pack).
Those looking to avoid spending a fortune can always wait for the Tesla Model 3 as well (if you can wait), or simply get a used Model S.
Leasing rates for the 2016 Tesla Model S 60 with rear-wheel drive (rather than all-wheel drive) currently start at $667/month. Still quite expensive for most people, even if relatively cheap for a Tesla.
Leasing rates for the Model X SUV are a bit higher, with rates for the base 2016 Tesla Model X 60D beginning at $788/month. Of course the base Model X includes all-wheel drive, so it isn’t an exact comparison between the two base models — just a comparison of the lowest amount of money you have to pay for for a new Tesla.
Rates can be reduced a bit through the use of the $1,000 discount that you can get with an owner’s referral code, it should be remembered.
Green Car Reports provides some interesting commentary on the news, noting, “the announcement will likely feed continued discussion among financial analysts about a potential softening in Tesla’s US sales. Because the company refuses to release conventional monthly sales data, its actual delivery rate remains opaque. It does release its total deliveries soon after each quarter closes, but those are global and the company does not break them out by country.”
Tesla did highlight in the Q2 Shareholder Letter it published this week “strong demand despite product transitions.”
Notably, the company does seem on track to achieve its guidance for the year — as we recently reported following the Q2 press call.
While I won’t say outright that I don’t buy the “softening demand” argument, I do have to wonder if the company is simply trying to clear stock before introducing a new Autopilot hardware suite later this year. Hmm….
Back to the lease itself, there is debate regarding whether it is a “deal” or not. It’s worth repeating in such a case that the best “value for the money” you can get is generally a used Tesla. Just looking at the site now, there’s a Model S 60 for as little as $48,800 — overall, there are four Teslas under $50,000. There are other, much cheaper electric cars on the market as well, but they either have a lot less driving range or include a gasoline backup — and they aren’t Teslas (which means that they don’t have several unique features that Tesla has pioneered).