Through the automaker's leasing program, there's a way to enjoy the thrill of owning and driving a Tesla for a brief period. Vehicle leases have become a viable alternative instead of paying cash. With the inflation rate rising and automakers facing an ongoing chip shortage, many manufacturers have been forced to review the MSRP of some models. Dealerships, too, have been reported to have capitalized on the situation by charging outrageous markups. But, for some people, a lease is a cost-effective method of owning a car.
Tesla’s popularity in the automobile market has been fueled by the continuous patronage of its four models, the S, 3, Y and X. Despite the automaker’s incredible performance in terms of sales for the first half of 2022. Only the Model 3 can be considered Tesla's most affordable electric vehicle, given its current starting price of $46,990. This means the other models are pretty pricey, depending on the customizations and desired trims. There's still buzz about a $25,000 Tesla, but with the manufacturer focused on readying the Cybertruck for delivery in 2024, a genuinely affordable model may not be available just yet.
Tesla Leasing is a service by which qualified customers can get a Tesla briefly and pay conveniently. Before proceeding with a lease application, it's best to study the current fleet and pick a model that suits one's needs. Also, applicants should consider the monthly fees and other charges before settling for this option. To help with payment, especially for those on a strict budget, Tesla provides an online leasing calculator which can be used to compare several options and then go with the preferable one. However, Tesla stresses that the price shown is not final until it has gone through its underwriting process. Lease applications can be started and completed using the Tesla Account. The first step is clicking the 'Payment Method' section and browsing the available financing options that'll appear once the user selects the 'Finance' option. At this point, 'Lease' should be tapped. Then, applicants should choose Tesla as their financier and confirm the monthly amount alongside the preferred lease period and annual mileage. To complete the application, personal information like birth date, registration address, social security number, employment and income details need to be supplied.
How To Submit A Lease Application
The monthly payments can be made using the Tesla mobile app or Tesla Account. It's worth stating that Tesla Leasing is available in all but eight American states. This service isn't available in Delaware, Kentucky, Michigan, Mississippi, New Hampshire, Nebraska, Wisconsin and Oklahoma. To lease a Tesla, those interested need to be at least 18 years old and possess a legitimate social security number.
Following the application's submission, Tesla will scrutinize the details and provide a decision. This will be communicated to customers through the Payment Method section of the Tesla Account. If any of the information supplied changes or the lease approval changes, applicants are welcome to restart the leasing process. If approved, the next step is agreeing to the financing offer's terms and discussing with a Tesla advisor regarding the next steps. If denied, a Tesla team member will reach out to consider the next steps.