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Tesla Offers Leasing Option for Iconic Roadster

Launches Tesla Motors Leasing

Wednesday, February 24, 2010

SAN CARLOS, Calif. - Tesla Motors, producer of the world's only highway-capable EV, is now offering the option of leasing the groundbreaking Roadster and Roadster Sport. Tesla Motors Leasing will allow more people to enjoy the Roadster's uncompromising design, engineering, and service with the benefits that leasing provides.

Tesla Leasing allows customers to take immediate delivery of a new 2010 Roadster or Roadster Sport with a three year, 30,000 mile contract and with monthly payments as low as $1,658 (see below for details). The relative low cost of electricity vs. gasoline and the low maintenance needs of Tesla's electric motor add to the benefits of leasing a Roadster over a conventional car. The cost savings compared to a similar gas powered car could be $131 per month based on an estimated 833 miles driven per month based on EPA fuel economy tests. At the end of the term, customers have the flexibility to purchase their Roadster or pay a fee and walk away.

"We are committed to continuously improving and enhancing the Roadster, offering a leasing option means even more people can drive this exciting and groundbreaking car," said John Walker, Tesla Vice President of Sales.

The Roadster is the only production car that is faster than many sports cars and more energy efficient than any hybrid. It is quickly becoming the choice amongst discerning drivers who demand performance with a clean conscience.

The Roadster has an EPA range of 236 miles per charge, double that of any other commercially released electric vehicle. It can be charged in any conventional 120 or 240V outlet. The Roadster produces zero tailpipe emissions. It does not need regular oil changes or exhaust system repairs. Roadsters have no spark plugs, pistons, hoses, belts or clutches to replace.

Tesla customers also benefit from the Tesla Rangers, Tesla’s pioneering mobile service squad. Tesla Rangers make house calls for annual inspections, firmware upgrades and other services, so customers can enjoy hassle-free service from their home or office. U.S. customers pay $1 per roundtrip mile from the closest service center, with a minimum charge of $100.

Lease financing is available on Tesla Roadster vehicles. Monthly lease payments of $1,658 (excludes sales or use tax) for 36 months based on MSRP of $111,005 (includes destination and documentation fees). $12,453 due at signing includes $1,658 first month’s payment, $9,900 down payment, and $895 acquisition fee. No security deposit required. Excludes tax, title, license, registration, and any locally applied fees. This lease offer is subject to credit approval and is for well qualified customers only. Not all customers will qualify for this lease program. Lessee must cover insurance. At lease end, lessee will be liable for disposition fee ($350.00), any excess wear and use as set forth in the lease agreement and excess mileage charges of $0.25 per mile for miles driven in excess of 30,000 miles over the life of the lease. Lessee acquires no ownership interest unless purchase option is exercised. Visit a local Tesla showroom or contact Tesla Motors directly for details and vehicle availability. For more information call 650-413-6300. All figures presented are estimates only. Actual selling price may vary.

More details on Tesla Motors Leasing can be found at: www.teslamotors.com/leasing

About Tesla

Tesla’s goal is to produce increasingly affordable cars to mainstream buyers – relentlessly driving down the cost of EVs. San Carlos, Calif.-based Tesla sells cars online and has delivered nearly 1000 Roadsters to customers in North America and Europe. Tesla has showrooms in California’s Silicon Valley and Los Angeles, New York, Seattle, Boulder, South Florida, Chicago, London, Munich and Monaco. The Tesla Roadster is faster than many sports cars yet more efficient than a hybrid.


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