In its attempt to promote Model S in the United States, Tesla Motors Inc (NASDAQ:TSLA) has announced a new leasing policy for the buyers of Model S in the country. The company has collaborated with U.S. Bank to roll out its latest leasing option.
Under the new leasing option, buyers of Model S would be able to return the car within three months of their purchase. Elon Musk, CEO of Tesla Motors, mentioned in the release,
“Leasing now also comes with the Tesla happiness guarantee. If you don’t like our car for any reason in the first three months, you can just return it and your remaining lease obligation is waived.”
He further added that the only obligatory rule is that the buyer would not be able to lease another Model S immediately.
The new leasing option is likely to lower monthly payments by 25% making the purchase affordable with US Bank backing the overall deal. Musk further mentioned the online purchase process of Tesla Cars indicating the benefits of making an online purchase. Last year, Tesla Motors Inc (NASDAQ:TSLA) announced 10% down payment financing option with US Bank and Wells Fargo & Co (NYSE:WFC) for its Model S sedan.
Earlier this month, Tesla Motors announced its latest all-wheel model S sedan with “autopilot” feature. The most significant feature of this car is its ability to reach 0 to 60 miles/hour within 3.2 seconds rivaling some of the fastest cars in the industry. Further, the car showcased its autopilot feature with self-parking and traffic control applications.
There were some major stake sale in Tesla Motors Inc (NASDAQ:TSLA), as the Japanese carmaker, Toyota Motor Corp (TYO:7203), sold its stake in the electric car company. At the same time, there are speculations that Bayerische Motoren Werke AG (ETR:BMW) has acquired some stakes in the electric car company.
This article has been written by Prakash Pandey.