About one week ago, Elon Musk promised to deliver some big news around Tesla Motors his all-electric vehicle company. He sort of did that on Tuesday afternoon, unveiling a new leasing program for Tesla’s Model S sedan.
The announcement underwhelmed the Tesla watchers who had predicted the company might pay down some part of its government loan, disclose a new funding round, or lay out an expansion of Tesla’s Supercharger network. Those in the market for a Model S, though, may find Musk’s offer tempting.
U.S. Bank and Wells Fargo will provide financing for people—with good credit—who make a 10 percent down payment on a Model S sedan. Tesla points out that federal and state tax credits offset much of that down payment and says people could, theoretically, end up paying $500 per month to drive a Tesla.
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