Tesla Discounting Continues - new 'cheap lease' for Model S and Model X. Pricing almost in 3-Series / A4 Territory

Checked my SPAM folder today and what do you know, I received some SPAM about the latest pricing discounts from Tesla - this time a 2 year cheap lease.

From Tesla....

A 2-year lease option is one of our most popular requests. We listened and are launching a limited time test of a 2-year lease on Model S and Model X. Starting at only $593/month (details here), our new 2-year lease program was designed just for you to drive electric today, and is available on all Model S and X orders placed by September 12th.

For additional savings, combine this offer with the Tesla Referral Program and apply a $1,000 credit towards your configuration. Just get the special personal code of any Tesla owner and enter it at the time of order.

It’s never been more affordable to experience the exhilarating performance and extraordinary safety of the groundbreaking Tesla Model S sedan and Model X SUV. With the best safety ratings of any car ever built and equipped with driver assistance Autopilot features that steer, change lanes and control speed, Tesla’s zero-emissions vehicles have revolutionized the modern driving experience.

_______________________________________________

What do think Spies? Is that low enough to encourage Tesla prospects who were sitting on the fence to pull the trigger?

Dexter1 - 8/21/2016 3:21:44 PM

+4 Boost

Does it come with wheels?

mre30 - 8/21/2016 3:33:52 PM

+5 Boost

Unrelated, but perhaps still relevant - accordingly to finance forums..

Elon Musk and three institutional investors (Fidelity, Baillie Gifford & Co., and T. Rowe Price) control more than half of the outstanding Tesla (NASDAQ:TSLA) shares. This is very unusual for a publicly traded company of Tesla's size. This is also important because long-term oriented institutional investors may reduce the volatility of a company's stock price by holding onto their positions through short-term news events that may rattle retail investors.

I guess Tesla stays in business as long as Fidelity, Baillie Gifford & Co., and T. Rowe Price keep their faith in Tesla. Ron Baron of Baron capital also was in press this week of being a fan.

Maybe its a "follow the crowd" story?

HenryN - 8/21/2016 3:48:32 PM

-5 Boost

"checking my SPAM folder" ? must be desperate for news eh!

While you're listening the principal share holders don't forget the State of Michigan who plays both sides of the game quietly investing in Tesla while publicly denying Tesla from selling cars in the state.

mre30 - 8/21/2016 4:03:39 PM

+4 Boost

Yup, its a little slow here. However I don't know where else a consumer can drive an $80,000 vehicle for about $600 a month. That's $14,000 in payments over two years and the off-lease Tesla is not going to be worth $66,000 used 24 months from now. Simply astonishing!

Agent00R - 8/21/2016 4:18:28 PM

+4 Boost

Desperate for news?

mre30 is not an Agent, so, I find it doubtful he was specifically targeting TSLA to take a dump on. Perhaps he was just doing what any normal email user does...

Agent00R - 8/21/2016 4:19:06 PM

+4 Boost

@mre30

Correct. You will not find a vehicle priced at that MSRP with a deal that aggressive.

HenryN - 8/21/2016 6:37:08 PM

-3 Boost

I am not sure about Tesla being desperate, but take a look at the offer and go configure yourself a car to find out how much it will cost. Not so different from your typical car dealer advertising a killer lease deal.

Take for example mre30's numbers: $80K car costing $14K to lease for 2 years ? not even remotely accurate.

The $593/month lease is for a "tripped down" MS60 with no option at a base price of $66K. The lease is for 10K miles/year. Add a $7288 down (assuming 1st month payment included), the total cost of 2 years lease is ~ $21K. That translates to ~ 37% of the total current price after $10K tax incentives (excluding gas savings).

If you guys want to bash Tesla, you can follow Bob Lutz and take in whatever bullshit he is doling out. But when it comes to facts, you'd better do your due diligence before posting.

SanJoseDriver - 8/21/2016 6:24:19 PM

-4 Boost

MRE30, you "conveniently" forgot to mention the $7,500 payment due at lease signing in order to get those rates. You should do a little more research next time (assuming you did not leave out that fact on purpose to benefit your biases or short sells).

HenryN - 8/21/2016 9:57:23 PM

-1 Boost

@SanJoseDriver: forget this mre30 guy. He's a CPA - he manipulates numbers for a living. No surprise there. What bugs me is Agent00R who seems to be a standup guy but would take it for a spin.

I have configured the Model S for a while now but have not pulled the trigger due to its large size - I am due for a new car and prefer a mid-sizer (Model 3 is my ideal choice). But if the lease offer is anywhere near what mre30 said, I would've sent in my order already.