Showing posts with label lease. Show all posts
Showing posts with label lease. Show all posts
Thursday, April 4, 2013
Wednesday, April 3, 2013
Tesla Motors adds amazing $500ish/month Model S financing offer
Moving to make Tesla Model S ownership more affordable, the new financing deal gives prospective Model S owners peace of mind from the certainty of knowing ahead of time the cost of owning an electric car.
Buying a Tesla Model S just became a lot easier with an announcement on Tuesday of a financing program that combines aspects of car leasing with aspects of normal car loans. The bottom line is that under the program, someone can get themselves into a Model S with no money down, and a net out-of-pocket cost of $5-600 per month. The goal is to make the Model S more affordable, available to a wider range of customers, but, as in many things, there are a lot of details to consider.
Last week Tesla's CEO Elon Musk posted one of his famous obtuse tweets announcing a big announcement, slated for last Thursday but moved to Tuesday, and that he promised to put his money where his mouth is, in a major way. What that means is that Elon Musk will personally, with his own personal fortune, back up Tesla Motors in guaranteeing the residual value for the Model S after 3 years. But let's start with the lease/financing offer. Part of Tesla's mode of operation is to eschew business-as-usual and invent new business practices that Tesla's management claim make more sense. This deal being offered by Tesla is a case in point.
Under the new financing program, the purchaser puts no money down and then makes a monthly payment which acts like a lease payment. After three years the purchaser has the right to put the car back to Tesla Motors with a guaranteed minimum residual value (43%) that exactly matches the residual value for a Mercedes S Class. The purchaser has the option to simply keep the car, continue making payments, and after five years they'll own the Model S outright. If they put the car back to Tesla, they can get another Model S, or Model X, or walk away, that's up to them.
Where Elon Musks' money gets stuffed into his mouth is that he, personally, will back up the residual value guarantee. Musk acknowledged there are a lot of Tesla Motors doubters, spreading the idea that Tesla is about to go belly up. By putting his personal net worth behind the guarantee Musk is saying that, even if the worst happens to Tesla, the Model S residual value guarantee will stand.
Technically, the deal is not a lease arrangement, despite it having terms similar to a lease. Instead it is a car financing deal, with the right to return the car to Tesla as if it were a lease.
The deal is a bit more complex than what was just outlined. First, the purchaser does have to front the $7,500 they'll eventually recoup from the federal tax incentive for electric car purchases. Second, the financing payment is quite a bit more than $5-600 per month, while the out-of-pocket cost gets to that level due to electric car cost of ownership savings.
The Tesla website now has a "True Cost of Ownership" that shows how the program works. The monthly payment for the 60 kWh Model S is $1,051 per month, and for the 85 kWh model it is $1,199 per month. The monthly payment is reduced by: applying tax credits to purchase price; replacing the cost for gasoline with cost for electricity; business tax benefits if the Model S is bought for business purposes; the value of the commuting time saved because most states allow electric cars to be driven solo in the high occupancy lane; the value of time saved from not having to visit gasoline stations.
A large chunk of the savings come from business tax benefits, which should make this option more attractive to business owners.
During a conference call to explain the financing deal, Elon Musk described it as a compelling financing solution for the Model S, that improves affordability, grants peace of mind from knowing the cost of ownership, and the convenience factor of having the option of just giving the car back to Tesla.
Tesla worked out this deal in collaboration with Wells Fargo and US Bank. The deal, as outlined, applies to purchasers in the U.S. and similar programs will be rolled out to Canada, Europe and Asia as Tesla begins shipping cars to those regions.
Source: Torque News
Buying a Tesla Model S just became a lot easier with an announcement on Tuesday of a financing program that combines aspects of car leasing with aspects of normal car loans. The bottom line is that under the program, someone can get themselves into a Model S with no money down, and a net out-of-pocket cost of $5-600 per month. The goal is to make the Model S more affordable, available to a wider range of customers, but, as in many things, there are a lot of details to consider.
Last week Tesla's CEO Elon Musk posted one of his famous obtuse tweets announcing a big announcement, slated for last Thursday but moved to Tuesday, and that he promised to put his money where his mouth is, in a major way. What that means is that Elon Musk will personally, with his own personal fortune, back up Tesla Motors in guaranteeing the residual value for the Model S after 3 years. But let's start with the lease/financing offer. Part of Tesla's mode of operation is to eschew business-as-usual and invent new business practices that Tesla's management claim make more sense. This deal being offered by Tesla is a case in point.
Under the new financing program, the purchaser puts no money down and then makes a monthly payment which acts like a lease payment. After three years the purchaser has the right to put the car back to Tesla Motors with a guaranteed minimum residual value (43%) that exactly matches the residual value for a Mercedes S Class. The purchaser has the option to simply keep the car, continue making payments, and after five years they'll own the Model S outright. If they put the car back to Tesla, they can get another Model S, or Model X, or walk away, that's up to them.
Where Elon Musks' money gets stuffed into his mouth is that he, personally, will back up the residual value guarantee. Musk acknowledged there are a lot of Tesla Motors doubters, spreading the idea that Tesla is about to go belly up. By putting his personal net worth behind the guarantee Musk is saying that, even if the worst happens to Tesla, the Model S residual value guarantee will stand.
Technically, the deal is not a lease arrangement, despite it having terms similar to a lease. Instead it is a car financing deal, with the right to return the car to Tesla as if it were a lease.
The deal is a bit more complex than what was just outlined. First, the purchaser does have to front the $7,500 they'll eventually recoup from the federal tax incentive for electric car purchases. Second, the financing payment is quite a bit more than $5-600 per month, while the out-of-pocket cost gets to that level due to electric car cost of ownership savings.
The Tesla website now has a "True Cost of Ownership" that shows how the program works. The monthly payment for the 60 kWh Model S is $1,051 per month, and for the 85 kWh model it is $1,199 per month. The monthly payment is reduced by: applying tax credits to purchase price; replacing the cost for gasoline with cost for electricity; business tax benefits if the Model S is bought for business purposes; the value of the commuting time saved because most states allow electric cars to be driven solo in the high occupancy lane; the value of time saved from not having to visit gasoline stations.
A large chunk of the savings come from business tax benefits, which should make this option more attractive to business owners.
During a conference call to explain the financing deal, Elon Musk described it as a compelling financing solution for the Model S, that improves affordability, grants peace of mind from knowing the cost of ownership, and the convenience factor of having the option of just giving the car back to Tesla.
Tesla worked out this deal in collaboration with Wells Fargo and US Bank. The deal, as outlined, applies to purchasers in the U.S. and similar programs will be rolled out to Canada, Europe and Asia as Tesla begins shipping cars to those regions.
Source: Torque News
Friday, March 29, 2013
Renault ZOE - Battery Charging Remote Inhibition
Remote Battery Inhibition
EV World reports that the financial arm of Renault UK, RCI, can:
"remotely inhibit the battery so that it won't charge should [the] car owner fail to make their monthly rental payments"
It's the first time I've seen in print that Renault has the capability to stop you using your Zoe if you don't pay the battery lease fee, though of course it has long been suspected.
My notes: Well, I think you can just remove the GSM chip, then the car will not be able to communicate with Renault's servers and there will be no battery charging disabling ... ;-)
But maybe, it is not that simple ...
Source: MyRenaultZoe & EV World
EV World reports that the financial arm of Renault UK, RCI, can:
"remotely inhibit the battery so that it won't charge should [the] car owner fail to make their monthly rental payments"
It's the first time I've seen in print that Renault has the capability to stop you using your Zoe if you don't pay the battery lease fee, though of course it has long been suspected.
My notes: Well, I think you can just remove the GSM chip, then the car will not be able to communicate with Renault's servers and there will be no battery charging disabling ... ;-)
But maybe, it is not that simple ...
Source: MyRenaultZoe & EV World
Wednesday, January 30, 2013
5,000 EUR + 169 EUR / month = Nissan LEAF in France
Yes, your eyes are reading this correctly, Nissan is now leasing the LEAF for 169 EUR per month, plus a 5,000 EUR first payment ! Now, this is a great offer consecutive to the newly announced price drop last week to 26 kEUR !
Source: Nissan France
Source: Nissan France
Wednesday, October 10, 2012
First Nissan LEAF TV ad in France
It can seem strange but this is is very first TV ad for Nissan here, also about the new lower 299 EUR a month lease and the new 7,000 EUR encentive (called "Super Bonus Ecologique" here) from the government
"La Nissan LEAF est une réalité. Première familiale 100% électrique commercialisée à grande échelle, la Nissan LEAF a été conçue de A à Z autour de la technologie électrique et propose la sécurité et la polyvalence des meilleures berlines compactes.
Retrouvez la Nissan LEAF sur Facebook www.facebook.com/nissanLEAFfrance"
Wednesday, October 3, 2012
Bollore's BlueCar and LMP battery pack unveiled at Paris Motor Show
2012 Paris Motor Show
The BlueCar is ... Blue :-) , Deep Blue
The Bollore Group unveiled its BlueCar at 2012 Paris Motor Show, along with a 500 EUR leasing plan, allowing the owner to access Autolib charge stations (at discounted cost), a complete insurance coverage and unlimited milage.
Here is the car in details with the LMP (Lithium Metal Polymer) battery pack it is using (same as Autolib with 250 km range)
Nice leather seats ...
The dashboard is a bit nicer with leather/fabric instead of hard plastic
Charge port is exactly like on the Autolib version
The LMP (Lithium Metal Polymer) battery pack and its 250 km of range
More info here: BlueCar.fr
There was of course an Autolib and its charging station
Wednesday, September 12, 2012
Nisaan LEAF cheaper and cheaper in France at 299 EUR per month
You probably remember my last post on the 349 EUR lease plan for a LEAF in France, not even a month ago (August 22nd)
Nissan now offers a lease for the LEAF at 299 EUR per month, with the same 5000 EUR downpayment, and over 37 months (same duration)
It is a good thing that more people can then afford this car, start driving it, and realize it suits their needs ...
More info on Nissan's website
Nissan now offers a lease for the LEAF at 299 EUR per month, with the same 5000 EUR downpayment, and over 37 months (same duration)
It is a good thing that more people can then afford this car, start driving it, and realize it suits their needs ...
More info on Nissan's website
Wednesday, August 22, 2012
Nissan is starting a new lease for the LEAF in France at 349 EUR per month
Nissan is starting a new lease for the LEAF in France at 349 EUR per month !
Street commercial in Boulogne (the dealer is the closest Nisan dealer, located in Paris, Porte de Molitor)
Details of the lease:
- For a duration of 37 months and a maximum of 45,000 km
- 1st rent is 10,729 EUR - 5,000 EUR of government incentive = 5,729 EUR (this should be even lower soon because this incentive has been raised to 7,000 EUR by the new government)
- 36 rents of 349 EUR
Link: Nissan
Street commercial in Boulogne (the dealer is the closest Nisan dealer, located in Paris, Porte de Molitor)
- For a duration of 37 months and a maximum of 45,000 km
- 1st rent is 10,729 EUR - 5,000 EUR of government incentive = 5,729 EUR (this should be even lower soon because this incentive has been raised to 7,000 EUR by the new government)
- 36 rents of 349 EUR
Link: Nissan
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