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2013 Tesla Model S Lease Program Focuses on Ownership Costs

  • 2013 Tesla Model S now available for lease
  • Rates start around $1,051 per month
  • Tesla quotes lower rates based on savings

Electric-vehicle manufacturer Tesla recently announced a new lease program that’s focused on ownership costs. The brand says shoppers can lease the new Model S sedan for around $500 per month. But getting to that number is complicated.

In normal lease terms, the Model S will start around $1,051 per month for 36 months. That figure applies to the base-level Model S with a 60 kWh battery. The mid-level 85 kWh model will start around $1,199. And the sporty, top-line Model S Performance, which also uses an 85 kWh battery, starts at $1,421 per month. So why is Tesla touting a $500-per-month lease rate?

The reason is that the automaker is counting areas in which the Model S saves you money — and time. For example, Tesla figures the Model S saves the average driver $267 per month in fuel costs compared to a BMW 5-Series. And since the Model S can use carpool lanes across the country, drivers can subtract even more money for time saved commuting. Tesla’s calculation also factors in other time savings, such as no longer having to visit gas stations.

While Tesla’s calculations are unorthodox, the message is loud and clear: Although the Model S may seem expensive, pricing is competitive in practice. Even if most shoppers don’t buy the automaker’s argument about time savings, the Model S’s fuel savings alone put it in contention with many gasoline rivals.

Beyond saving gas, there’s another benefit to leasing a Model S. Tesla says none of the leases require any money down. That’s major news for luxury car leases, as they tend to require big down payments. Tesla says it can offer the leases with nothing down because banks can take the electric vehicle tax credit from the Model S instead of a down payment. The only catch is that shoppers interested in a Model S have to stick to under 12,000 miles per year.

The Model S is a fully electric luxury sedan with seating available for seven. Base-level 60 kWh models offer 302 horsepower, while the top-level Performance boasts 420 hp. The 60 kWh Model S offers a 230-mile range, while the 85 kWh models can reach 300 miles between charges.

What it means to you: If you’re considering a 2013 Tesla Model S, leasing may be for you — especially if fuel is a major cost.

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4 COMMENTS

    • If you go directly through Tesla and put a $5000 down payment on the car its a lease of between $820-860 depending on your states taxes. Also if you live near one of their supercharger locations you can charge your Tesla for free while leasing. It takes approximately 20 minutes for a 50% charge and 40 minutes for a 80% charge.

    • Also that information if for the 2015 model s. Believe it or not the difference in price between the 2013 and 2015 is only around $3000 and the new 2015 edition has a better set up which will provide you with more range and reliability. 

    • If you are looking at picking one of these up make sure you look at your states emission laws. I’ve heard horror stories where people outside the US were not allowed to keep their model s because it doesn’t have an exhaust and there for doesn’t meet the emission requirements regardless of the fact that its an electric. 

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Doug Demuro
Doug DeMuro writes articles and makes videos, mainly about cars. Doug was born in Denver, Colorado, and received an economics degree from Emory University in Atlanta. After graduation, Doug spent three years working for Porsche Cars North America. Eventually, he quit his job to become a writer, largely because it meant that he no longer had to wear pants. Doug’s work has been featured in a... Read More

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