Elon Musk is disrupting the auto market again and opens the doors wide open for the broader market audience for Electric Cars. There is a lot of controversy about the Tesla financing plan. As usual, the best way is to listen to the Elon Musk himself. His "personal guarantee with his all personal assets" is the new interesting twist. Even if financing is not really so appealing as some calculations by Tesla Motors claim - it is the way forward to the mass market of electric cars and competition from more financial institutions in this auto premium sector will bring the costs down.
Tesla Motors:
TRUE COST OF OWNERSHIP
"Working with some of the largest and most respected banks in the country, Tesla has been able to create a financing product that combines the surety and comfort of ownership with all the advantages of a traditional lease.
US Bank and Wells Fargo will provide 10% down financing on approved credit, and the down payment is covered or more than covered by US Federal and state tax credits ranging from $7,500 to $15,000, advantages not available when leasing. New Jersey, Washington and DC also have sales tax credits for electric vehicles.
After 36 months, you have the right, but not the obligation to sell your Model S to Tesla for the same residual value percentage as the iconic Mercedes S Class, one of the finest premium sedans in the world, made by Daimler (also a Tesla partner and investor).
Not only is Tesla guaranteeing that resale value, but Tesla CEO Elon Musk is personally standing behind that guarantee to give customers absolute peace of mind about the value of the asset they are purchasing.
We also encourage you to think about Model S ownership in terms of true out of pocket cost. When considering the savings from using electricity instead of gasoline, depreciation benefits, and other factors, buyers will save hundreds of dollars per month compared to owning a gasoline powered car."
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