Welcome to Bimmerfest -- The #1 Online Community for BMW related information! Please enjoy the discussion forums below and share your experiences with the 200,000 current, new and past BMW owners. The forums are broken out by car model and into other special interest sections such as BMW European Delivery and a special forum to voice your questions to the many BMW dealers on the site to assist our members!

Please follow the links below to help get you started!

Go Back   Bimmerfest - BMW Forums > Everything Else > General Automotive Forum

General Automotive Forum
All non-BMW car talk goes here...

Reply
 
Thread Tools Display Modes
  #1  
Old 04-19-2013, 09:00 AM
tim330i's Avatar
tim330i tim330i is offline
Administrator
Location: Boston
 
Join Date: Dec 2001
Posts: 6,770
Mein Auto: Ti Silver 03 M3
Own a Tesla Model S for $500 a month with zero down



Tesla Motors announced today that, in partnership with Wells Fargo and US Bank, it has created a revolutionary automotive financing product that provides the best elements of ownership and leasing to Model S customers.

Most people throughout the world prefer to own their belongings, rather than rent what is essentially someone else's property via a lease. However, leases do provide some key benefits, particularly a low initial payment, tax deductions, lower risk on resale value and the convenience of returning a car without the hassle of reselling it personally.

Working with some of the largest and most respected banks in the country, Tesla has been able to create a new kind of financing product that combines the security and comfort of ownership with all the advantages of a traditional lease. Like the Model S, this product was created from the ground up to provide maximum benefit to consumers, rather than simply duplicating other financing programs that tend to favor companies at the expense of the individual.

How does it work?
  • US Bank and Wells Fargo have agreed to provide 10% down financing for purchase of a Model S (on approved credit.)
  • The 10% down payment is covered or more than covered by US Federal and state tax credits ranging from $7,500 to $15,000. New Jersey, Washington and DC also have no sales tax for electric vehicles. These advantages are not available when leasing.
  • When considering the savings from using electricity instead of gasoline, depreciation benefits and other factors, the true net out of pocket cost to own a mid-range Model S drops to less than $500 per month.
  • After 36 months, you have the right, but not the obligation to sell your Model S to Tesla for the same residual value percentage as the iconic Mercedes S Class, one of the finest premium sedans in the world, made by Daimler (also a Tesla partner and investor).
  • Not only is Tesla guaranteeing that resale value, but Tesla CEO Elon Musk is personally standing behind that guarantee to give customers absolute peace of mind about the value of the asset they are purchasing.
Reply With Quote
Advertisement
  #2  
Old 04-19-2013, 11:36 AM
wyb's Avatar
wyb wyb is offline
Officially Welcomed to the 'Fest
Location: Stepping away from the keyboard ...
 
Join Date: Jul 2008
Posts: 5,282
Mein Auto: A car
this does look very interesting... I'm thinking of looking much closer at this later in the year...
__________________
535i XDrive | Alpine White w/Black+Natural Leather Interior

It's ALL perspective - get some. No - I am NOT addressing YOU!
Reply With Quote
  #3  
Old 04-19-2013, 02:26 PM
Elias's Avatar
Elias Elias is offline
Officially Welcomed to the 'Fest
Location: Northern Va
 
Join Date: Jun 2005
Posts: 2,575
Mein Auto: 2012 650 Coupe
It will definitely be under consideration once my current lease is up!
__________________

2012, 650i Coupe, Carbon Black, Black Nappa leather, M Sport , CWP,DAP, IAS, 20" Wheels,
BMWCCA Member since 07/2008
Reply With Quote
  #4  
Old 04-19-2013, 03:19 PM
MELLOWYELLOW06 MELLOWYELLOW06 is offline
Officially Welcomed to the 'Fest
Location: Los Angeles
 
Join Date: Mar 2012
Posts: 338
Mein Auto: 2012 750Li & 650i
I may grab one for the office.
__________________
Reply With Quote
  #5  
Old 04-19-2013, 10:04 PM
brkf's Avatar
brkf brkf is offline
Not Wearing Pants
Location: Earth
 
Join Date: May 2003
Posts: 13,451
Mein Auto: Moped
It's not really $500. There's some super fuzzy math going on. It's over $1000 a month and they make it seem like it's $500 because of your "savings" on gas and repairs. Hogwash marketing scam.

I have a feeling BMW's I3 will legitimately get you near $500 on a lease. And without weird numbers games.
Reply With Quote
  #6  
Old 04-20-2013, 05:10 AM
K-A's Avatar
K-A K-A is online now
Cray
Location: U.S
 
Join Date: Nov 2010
Posts: 3,685
Mein Auto: Porsche Macan S / SD Pack
Quote:
Originally Posted by brkf View Post
It's not really $500. There's some super fuzzy math going on. It's over $1000 a month and they make it seem like it's $500 because of your "savings" on gas and repairs. Hogwash marketing scam.

I have a feeling BMW's I3 will legitimately get you near $500 on a lease. And without weird numbers games.
That's what I heard. It's NOT $500 out of pocket a month, it's more like $1,000 and their insane marketing tactics are literally deducting presumed "savings" (from what? How do they know what kind of car you had before?) from that to get to a "$500". If it truly IS $500, on a kind of "Rent To Own" basis, then it's indeed awesome. I for one like the idea of a Lease-like term but designed to actually own, instead of rent.

As for Tesla, those of you with BMW's or any German Premium manufacturer used to the immaculate fit/finish, perfect panel alignment, minimal panel gaps, etc.; as cool as some elements of the Teslas are, I wonder if I'm the only one completely turned off by the inherent quality, workmanship and fit/finish flaws on the car. The rear and front doors aren't perfectly aligned to each other, i.e if you run your fingers (or simply look) at the supposed continuity of the chrome border going along the bottom of the windows from rear to front door, you'll see not only a jarring gap between them, but the massive difference in position (your finger will hit the edge instead of seamlessly continue along). The car is full of this kind of stuff.
__________________
2015 Porsche Macan S / SportDesign: White/Black (Alcantara/Leather), PDK, 20" RS Spyder's w/ Colored Crests & Summer Tires, Air Suspension w/ PASM, High-Gloss Black Trim, Premium Package, Comfort Lighting, HD Radio, Blacked Out Sidemarkers, Front Tints.

Recents: '13 BMW 535i M Sport: Black/Black, Premium/Tech, Sport Auto, etc. M-B's: '11/10/06 E350 "Sport". '02 S500 w/ Every Option.


Last edited by K-A; 04-20-2013 at 05:11 AM.
Reply With Quote
  #7  
Old 04-29-2013, 11:57 AM
OBS3SSION OBS3SSION is offline
Officially Welcomed to the 'Fest
Location: Feeding Hills, MA
 
Join Date: Oct 2002
Posts: 2,961
Mein Auto: '02 M3 'Vert
I test drove a Tesla yesterday. Speaking with the associate, she said this "$500 per month" is a marketing ploy, and actually used the word "deceptive". I grinned and thanked her for being honest, since my wife and I came to the same conclusion.

I was wowed with how the car drove, and would order one in an instant simply because it's such a cool concept... if I had piles of money. Yes, you can nitpick fit and finish, and she actually addressed this as well by saying most people who have purchased Teslas already are early adopters and view it as "character".

In reality, a 60kwh non-performance Tesla with Tech, Air Suspension, Sound and the glass roof came up to $80K (sans tax credit). Add tax, and I'd be looking about something like $1300/mo with 10% down. I'd have to wait until January's tax claims to get my credit back which would cover a bulk of the down payment. Unfortunately... just too rich for my wallet.
__________________
Eric (the Obsessed)

2002 M3 Convertible
2005 VW Passat 1.8T Wagon
Reply With Quote
  #8  
Old 05-28-2013, 04:42 PM
mark_m5's Avatar
mark_m5 mark_m5 is offline
Overly Intellectual
Location: Where the money is.
 
Join Date: Sep 2006
Posts: 4,818
Mein Auto: 2002 M5, 1999 M Roadster
I'd like a 1-month lease to see how I like it. Do they offer a 1-month lease, I wonder?
__________________
Mark

Grammar: The difference between "knowing your sh*t" and "knowing you're sh*t."
Reply With Quote
  #9  
Old 05-28-2013, 07:01 PM
K-A's Avatar
K-A K-A is online now
Cray
Location: U.S
 
Join Date: Nov 2010
Posts: 3,685
Mein Auto: Porsche Macan S / SD Pack
Quote:
Originally Posted by mark_m5 View Post
I'd like a 1-month lease to see how I like it. Do they offer a 1-month lease, I wonder?
Lol. Is that a serious question? That would be the worst business move they could make.

I was at a Tesla Store yesterday.... incredible how hyped up this car is, how many people are so interested in it.... the Store was packed, people fawning over it like some exotic. And rightfully so, I've become a huge fan of this car and think it's spawning the next revolution which will ultimately make our gas engine cars akin to a horse and carriage. I already feel like gas powered engines are dated and almost obsolete, even though I live for the sounds they make and the emotional connection you can feel with them.

The one car out there who I'd move on from my 5er for is possibly a Model S. However, when you see just how much a moderately optioned 85kw powered car goes for, it's more in line with S-Class/750i Lease prices, after disregarding the marketing fluff to trick you into thinking that it's "cheaper". With the gas savings.... it could be worth it.
__________________
2015 Porsche Macan S / SportDesign: White/Black (Alcantara/Leather), PDK, 20" RS Spyder's w/ Colored Crests & Summer Tires, Air Suspension w/ PASM, High-Gloss Black Trim, Premium Package, Comfort Lighting, HD Radio, Blacked Out Sidemarkers, Front Tints.

Recents: '13 BMW 535i M Sport: Black/Black, Premium/Tech, Sport Auto, etc. M-B's: '11/10/06 E350 "Sport". '02 S500 w/ Every Option.

Reply With Quote
  #10  
Old 06-08-2013, 05:58 PM
Keepittrill's Avatar
Keepittrill Keepittrill is offline
My avatar is a selfie LOL
Location: Phoenix
 
Join Date: Jun 2013
Posts: 4,203
Mein Auto: 2011 M3 DCT
Own a Tesla Model S for $500 a month with zero down

Quote:
Originally Posted by K-A View Post
Lol. Is that a serious question? That would be the worst business move they could make.

I was at a Tesla Store yesterday.... incredible how hyped up this car is, how many people are so interested in it.... the Store was packed, people fawning over it like some exotic. And rightfully so, I've become a huge fan of this car and think it's spawning the next revolution which will ultimately make our gas engine cars akin to a horse and carriage. I already feel like gas powered engines are dated and almost obsolete, even though I live for the sounds they make and the emotional connection you can feel with them.

The one car out there who I'd move on from my 5er for is possibly a Model S. However, when you see just how much a moderately optioned 85kw powered car goes for, it's more in line with S-Class/750i Lease prices, after disregarding the marketing fluff to trick you into thinking that it's "cheaper". With the gas savings.... it could be worth it.
Scottsdale Fashion square has a Tesla store and it's always empty. I've never seen a single person inside.


Sent from BimmerApp mobile app
__________________
2010 E89 Z4- gone and forgotten (;
2011 M3 DCT

Reply With Quote
Reply

Bookmarks

Tags
electric cars, elon musk, lease vs buy, model s, tesla, tesla ev, tesla model s, tesla motors, us bank, wells fargo


Forum Navigation
Go Back   Bimmerfest - BMW Forums > Everything Else > General Automotive Forum
Today's Posts Search
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On



Forum Jump


All times are GMT -7. The time now is 08:31 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
© 2001-2011 performanceIX, Inc. All Rights Reserved .: guidelines .:. privacy .:. terms