Ad-free. Influence-free. Powered by consumers.
Skip to Main ContentThe payment for your account couldn't be processed or you've canceled your account with us.
Re-activateWant to buy a Tesla cheap? You soon can. Tesla plans to offer a certified pre-owned program, just as it is rolling out upgraded Model S cars and preparing to launch additional models.
"With the Model S fleet now heading toward the first cars hitting three years old, we are looking at CPO and how best to structure," a Tesla spokesman, Simon Sproule, told trade magazine Automotive News.
The problem with financing or leasing a new electric car from a startup company has been the lack of widespread used-car sales to establish accepted pricing for used cars.
To bridge that gap and to bring costs down for consumers, Tesla's CEO, Elon Musk, announced last year that he would personally guarantee the resale value of the Model S to be 50 percent of its original value after three years. That allowed the company to offer a pseudo lease with payments as low as $1,500 a month.
This month, according to Automotive News, the company began writing consumer leases for as little as $932 a month with $5,000 down. Leasing, along with traditional loans and established resale values, completes "a comprehensive range of financing needs for Model S customers," Sproule said.
With a network of wholly owned stores, Tesla could be in an ideal position to offer its own used car sales and have something to offer customers who can't afford a brand new Model S.
The news comes ahead of rumors that Tesla is planning an announcement Thursday that will include new options for the Model S, as well as a potential look at a future product.
—Eric Evarts
Build & Buy Car Buying Service
Save thousands off MSRP with upfront dealer pricing information and a transparent car buying experience.
Get Ratings on the go and compare
while you shop
