Palo Alto, CA – Tesla Motors Inc unveiled a leasing policy for its new Model S with an option for buyers in the United States to return the car within three months of purchase.
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U.S. Bank will offer a lease for buyers of the new Model S, lowering monthly lease payments by as much as 25 percent, Tesla Chief Executive Elon Musk said in a blog post dated Oct. 25.
If not satisfied and the car is returned within three months of purchase, the remaining lease obligation will be waived, Musk said.
However, Tesla, which also provides an option of ordering the car on its website, said once the car is returned, it would not be possible to immediately lease another Model S.
Earlier this month, Tesla launched its all-wheel drive Model S, an electric car that can park itself and recognize obstacles on the road.
Last year Tesla announced its partnership with Wells Fargo & Co and U.S. Bank to offer a 10 percent down payment on the purchase of a Model S sedan, the Wall Street Journal said.