Technology

Tesla Motors Inc Releases Details Of Model S Leasing Policy

Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk specified details in a blog post published on the company website on October 25. The PayPal entrepreneur continued a steady stream of recent announcements from the company, which is currently one of the most shorted stocks on the U.S. exchange.

Tesla Motors Inc Releases Details Of Model S Leasing Policy

Just a few weeks ago the company unveiled its new Model S, which includes cutting-edge automated driving technology, as well as an all-wheel-drive system.

Tesla’s new agreement

U.S. Bank has entered into partnership with Tesla Motors Inc (NASDAQ:TSLA), offering a lease for buyers of the new Model S which will reduce monthly payments by up to 25%. The reduction is due to the lower cost of capital enjoyed by the bank compared to the automaker.

Under the terms of the agreement, customers have an option to return the car within three months if they are unsatisfied with its performance. If the vehicle is returned within three months the remaining lease obligation will be waived, but the customer will be barred from immediately leasing another Model S.

The latest financial agreement follows on from a partnership with Wells Fargo & Co. and U.S. Bank offering a 10% down payment when purchasing a Model S.

A focus on customer service

The company is well-known for its efforts in maintaining a good relationship with its clients, and making the purchasing experience as easy as possible. The blog post states that the new leasing agreement will not involve any extra paperwork or signatures, unless required by your state DMV. If ordering in-store, just agree to a set of terms and conditions and you are away.

However there is no need to leave the comfort of your home to lease a new Model S, which is available at the TeslaMotors.com website. After completing a simple ordering process, specify a time at which you would like your car to be delivered to your local Tesla Motors Inc (NASDAQ:TSLA) service center. If you live in an area which is not conveniently served by a service center, the company will deliver the vehicle to your home or business.