Tesla Motors unveils business lease

Tesla Motors announced Tuesday that it is launching a lease for business owners, in response to request from small and medium-sized businesses that want a leasing program so they can deduct the payments from their business taxes.

Business customers can configure their care on Tesla’s website and see what the upfront monthly cost for leasing will be; customers can sign the lease agreement electronically.

The lease is available through Tesla Finance, a new subsidiary set up to offer the business lease product. The lease for a fully-loaded Model S is $1,205 a month, according to a calculator on the website, but that includes an estimated savings on gas of $261 a month and a tax benefit of $652. Prior to that, the monthly payment would be $2,118 a month.

California residents have been offered a $2,500 rebate from the state, but the program is so popular that there’s now a wait list, as well as questions about future funding for the program. The California Air Resources Board, or CARB, is considering a proposal that would include a $60,000 cap on MSRP in order to qualify for a rebate.

Photo by Pat Tehan/San Jose Mercury News

 

 

Dana Hull Dana Hull (238 Posts)

Dana Hull covers clean technology and energy policy for the San Jose Mercury News. She often writes about electric vehicles, the smart grid, the solar industry and California energy policy, from RPS goals to Gov. Jerry Brown's big dreams for distributed generation.