Tesla Offering New Business-Leasing Program For Model S

Apr 10, 2014 04:36 PM EDT | Matt Mercuro

Tesla is now providing a new business-leasing program for small and medium-sized businesses.

A lease is a 36-month term. Terms include a minimum down payment of $5,000, an acquisition fee of $700, and a disposition fee of $300. Approximately 15,000 miles are allowed per year, according to Tesla, who spoke with Edmunds this week.

"Our customers in small and medium-sized businesses have been asking for a leasing program for the ease and simplicity of being able to deduct payments from their business taxes," Tesla said in a statement earlier this week. "We've been listening to those requests and we're happy to announce the launch of leasing for business owners."

The electric vehicle automaker is advertising the Model S business lease on its website for $408/month, including gasoline and tax savings.

Tesla CEO Elon Musk took to his Twitter account to discuss the news.

"In keeping with the Tesla way of doing things, our customers can handle and sign their lease agreements completely electronically. Customers are able to view an electronic version of the lease agreement upfront before delivery. Even the signature process at delivery is simple: a one-button tap on the 17-inch touchscreen in their new Model S is all it takes," Tesla said.

The lease is available through Tesla Finance, which is a subsidiary the company created to offer the new service.

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