Tesla Motors Inc (TSLA) New Model S Gets A New Lease Option

Tesla Motors Inc (NASDAQ:TSLA) new Model S has been in discussion even since it was unveiled, and now the company has offered a lease option for the buyers, according to Reuters. The buyers in the United States have an option of buying the Model S on lease and thereafter they can return the car anytime within three months of purchase.

Lease policy for Model S

In a blog-post, Chief Executive Officer of Tesla, Elon Musk informed that the U.S. bank has plans of offering a lease to the new Model S buyers. Also, the lease payments have been lowered by as much as 25%. Musk further informed that in case the buyer is not satisfied with the car he or she could return the car within three months of purchase, and a waive-off will be made to the remaining lease obligation. Tesla, which also offers an option of buying the car online, says if a buyer returns the car then he or she will not be allowed to lease another Model S immediately.

Tesla Model S all-wheel drive electric car was launched by Tesla Motors Inc (NASDAQ:TSLA) earlier this month. This car can park itself, and also has the ability of recognizing the obstacles it finds on road. Last year, the Wall Street Journal informed that Tesla entered into a partnership with Wells Fargo & Co and U.S. Bank to offer the buyers of Model S sedan a down payment of 10%.

Toyota sells stake in Tesla

Separately, a part of the stake held by Toyota Motor Corp in Tesla Motors Inc (NASDAQ:TSLA) was sold by it and the information came on Friday. Few days earlier, an announcement was made by the German luxury car maker Daimler that they divested the shares of Tesla owned by them for a sizable gain. The sale came “as part of our process of regularly reviewing our investment portfolio,” Toyota said in a statement. “We have a good relationship with Tesla, and will evaluate the feasibility of working together on future projects.”

In 2010, when Tesla Motors was in a fledgling state, Toyota invested $50 million in it at that time. Shares amounting to $690 million were held by the Japanese auto giant as reported by them in March and this accounted for a 2.4% stake in the company. The number of Tesla Motors Inc (NASDAQ:TSLA) shares sold by Toyota is still unknown. Daimler held 4% stake in Tesla, and it informed earlier last week that it sold all of it.