Tesla Model S For $500 Per Month? No Just No

15 Июн 2014 | Author: | Комментарии к записи Tesla Model S For $500 Per Month? No Just No отключены
TESLA Model S – 60 kWh Auto

Tesla Model S For $500 Per No. Just No.

Tesla Motors advertising $500/mo price revision of calculator settings

Musk is putting his money his mouth is. but it’s actually not money at all, despite the big

Announced today, a new financing makes it possible for buyers to get hands on an 85 kWh Tesla Model S for a $543 effective monthly .

It’s not quite that

Update: It’s even simple than it was before. has admitted the default settings of the cost calculator were optimistic. The settings have been revised—to within $1 of our own of the effective cost of an 85-kWh S. Tesla Motors’ website advertises a cost of $500 per on its front page, however.

You under Tesla’s given you’ll actually pay a 10% down ($7,990, based on the pre-incentive of the 85 kWh Model S), and then $1,199 per

That’s at 2.95% APR for 66 months, and any taxes and fees.

But this your typical financing Tesla guarantees the resale of the car during months 36-39 of loan term at a fixed 43% of the price.

That 43% buy-back is based on the 12-month average value of a Mercedes-Benz S550. Not a paragon of resale value, but a luxury car, so we’ll it even.

Nevertheless, Tesla you’ll save money the purchase of a Model S—to the of $656 per month.

How? says you’ll save:

through $10,000 in state and incentives (if you’re a California more in a few other states, in most)

$284/month through not for gasoline

$227/month through using the car for business

$100/month by not having to an hour at the gas station each (assuming your time is $100/hour)

About Musk his money where his mouth is

that the only direct Tesla has in this financing is the guarantee of the buyback price financing itself is done two independent banks), we assume money is the guarantee itself.

take a closer look at guarantee.

Assuming a purchase of $79,900 for a standard 85 kWh Model S, guaranteed buyback will be $34,395.70.

Problem is, after 36 of repayment on your 66-month you’ll owe about $35,268.46. means even after buys the car back from you’ll owe the bank another

So really, Musk is saying guarantee Tesla will buy the car from you for less than contractually agreed the car is worth at point, putting $873 of dollars where his mouth is. a nice guy.

To be fair, Musk believes the car be worth more than the 43% and says the company will the resale value at the higher market value if so.

Real of ownership

First, lets see you’ll have to lay out to own the Model S for the 36-month lease/buyback case and for the outright purchase case.

TESLA Model S – 60 kWh Auto

In scenario, the monthly payment be the stated $1,199. Add to that a 10% payment of $7,990.

Over 36 that’s a monthly average of $1,421. Over 66 months, works out to $1,320 per month.

out-of-pocket cost over 36 $51,156; over 66 months:

Now, of course, you’ll to maintain the car at a Tesla facility (or an approved maintenance center) in to stay in compliance with the of the resale value guarantee. If you live near one, be shipping or driving the car both to get it maintained. And that’s on top of the required per year service contract buy to keep from voiding warranty.

Here’s a handy map of service Even if you’re in California, you be looking at a couple hundred in each direction to get your car The situation is much worse in the of the country.

Map of Tesla’s current and service center locations

But back to the savings proposed in the calculator

If you don’t live in one of the that offer incentives for EV on top of the Federal $7,500 credit, you be saving any money—you’ll in fact be $17 per month back onto the S’s cost. Tesla’s doesn’t even begin to the complexity of state-by-state EV incentives and requirements.

Next, the cost of electricity gasoline. Tesla conveniently the national average cost of ($0.11 per kWh), though cost varies widely by and by season—even by time of day. But of national averages for premium gas it lists an arbitrary average of $5 per over three years.

to AAA. today’s average for premium gas is $3.958. A year it was $4.197. It could conceivably in the future (it has done it before) but the $5 as a three-year average is perhaps a bit for those not living in California or the

Adjusting the average premium gas back down to $4.25 per reduces the monthly savings of a Model S by another $50.


But that’s at 19 mpg combined average gas A 2013 BMW 550i averages 20 a 2013 Mercedes-Benz S550 19 mpg. Perhaps the Tesla is fair enough, especially the Model S’s relative

It’s worth noting, that the 550i manages 333 on a tank of gas at EPA ratings, and the S550 407 miles—and both can be refueled about anywhere, in minutes.

TESLA Model S – 60 kWh Auto
TESLA Model S – 60 kWh Auto
TESLA Model S – 60 kWh Auto

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