Tesla Offers Two Year Lease For Model S and X

Tesla has announced a new two year lease program for the Model S and X.

Tesla, the Palo Alto-based electric car company, has recently announced a new two year lease option for potential customers interested in buying either a Model S or X automobile. The company lowered the length of their lease programs to two years from the standard three it offered for those car models.

If you ever wanted to buy a Model S or X Tesla, but even now you are a bit hesitant, its important to know that this new program will be limited to orders placed by September 12, 2016. Their decision to lower the lease period has reportedly been in response to numerous requests from potential clients interested in acquiring one of those models of electric cars.

Tesla has, of course, adjusted the payment system under the new terms of the shorter lease period. The minimal monthly rate for a standard Model S or X will be $593 per month. The price will slightly vary depending on how many miles the future owners of the cars plan on driving them annually. Before customers are delivered the cars, they are required to provide a down payment. For the Model S, customers will have to pay $7, 288 and $7, 425 for the Model X. The required down payment has almost doubled when compared to the ones for the three-year leases.

Tesla’s new promotion was announced in a customer email that offers customers the ability to combine the new lease option with Tesla’s referral program in order to get $1, 000 credit towards their new car.

The new promotion is Tesla’s attempt to improve the sale numbers of their earlier models of electric cars while the company tries to keep up with demand for the new Tesla 3, which saw huge pre-orders numbers from the moment it was announced. The new lease program comes at a time when the Autopilot feature of their cars is under investigation and public scrutiny over the role it played in several accidents.

The promotion of the Model S and X follows the second financial quarter report, in which the company has experienced once again losses after 13 consecutive quarters. However, Tesla is gambling its future on the success of upcoming autonomous cars.

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