Almost a year after Tesla Motors announced a “revolutionary” lease deal for the Model S at about $500-a-month, the green electric carmaker is back with a new $408 business lease deal from its new subsidiary, Tesla Finance.
The three page lease agreement is in Tesla’s words, easy-to-understand, and can also
be signed digitally on the car’s touchscreen when the car arrives.
While $408 a month for a sleek and sexy Tesla sounds good, the lease comes with a number of caveats. For example, the actual monthly payment is $1,012, but Tesla says the consumer will save $343 a month in gas and another $343 in business tax benefits (this is calculated by Tesla at a 40 percent effective tax rate and 70 percent business use). In other words, read the fine print because looks can be deceiving.
The business lease program is currently available in only 10 states – CA, CO, CT, FL, IL, MA, MD, NY, TX, and WA.
So that means you can lease a Tesla in Texas, but you can’t actually buy one there.
The first cars available on this lease program should be ready by June 2014, Tesla said in a press release.