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New Tesla Program Allows Businesses to Lease Model S

Motor Trend logo Motor Trend 4/8/2014 Karla Sanchez

Tesla wants to make the Model S more accessible to interested customers, and the automaker has been keeping true to its word. Following the successful Resale Value Guarantee, Tesla has announced on its blog that it will also offer a Business Leasing program.

Customers who own small- or medium-sized businesses have reportedly been asking for such a program because it would allow them to deduct payments from their business taxes, and they can finally do that now. Tesla boasts that the new business leasing program is straightforward and easy to use, as customers can see all they need to know when ordering their Model S. While configuring their Model S online, customers will be able to see their monthly cost of leasing, and they won't have to flip through several pages to read the terms, either. The program is thoroughly explained in just three pages, and customers will be able to electronically sign the lease for added convenience. When taking delivery of the new Model S, all that's left to do is approve it by tapping on the Model S's display screen.MotorTrend Image© Provided by MotorTrend MotorTrend Image

The program is being offered through an arm of the company called Tesla Finance. On the automaker's website, we played around with the configurator which showed the P60 could be leased for $408 a month with a down payment of $2500 after the $2500 California incentive. However, terms are further explained on the website: "Price does not include taxes, license and title fees, or regionally required equipment, service, and charges. The monthly cost of business leasing is calculated using the following assumptions: 36-month, 15,000-annual-mile lease with a $5000 down payment, a $700 acquisition and $300 disposition fee, a 40% effective tax rate with 70% business use, and gasoline savings." MotorTrend Image© Provided by MotorTrend MotorTrend Image

With small businesses lined up clamoring for Tesla Model S company cars, the Business Leasing program is sure to find customers.

Source: Tesla

2013 Tesla Model S© Provided by MotorTrend 2013 Tesla Model S

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