As far as everyday customers are concerned, Tesla Motors (NASDAQ:TSLA) has them covered. Last year, the company unveiled the Resale Value Guarantee, which, for all intents and purposes, functions as a lease — except that since the customer actually owns the vehicle in a legal sense, they are still entitled to the $7,500 tax credit for buying an electric vehicle.
However, there wasn’t a clean-cut solution for small businesses, despite demands from business owners looking for one. With a blog post published on Tuesday, however, Tesla has reached out to this demographic with a leasing for business owners program.
This plan differs slightly because business owners want to be able to deduct the car as a write-off on their taxes. “Our leasing program is straightforward and transparent, and we’ve designed it to be user friendly,” Tesla said. “To begin with, business customers can easily see upfront their monthly cost of leasing while configuring their car on our website.”
The company also kept every detail short, sweet, and concise. “While customers have become accustomed to lease agreements that run as long as 10 pages, we found that we could say all that needed to be said in less than three pages — and it’s written in plain language,” the company wrote.
Everything is handled through the Web, per Tesla tradition. Buyers can review an electronic version of the lease agreement upfront before delivery of the vehicle, and a one-button tap on the 17-inch touchscreen in their new Model S is all that’s needed upon delivery of the car.
The leasing agreement business is set up through Tesla Finance, a subsidiary that the company established specifically to handle such affairs, including the Resale Value Guarantee and loans from Tesla’s banking partners. “These financing options, when combined with the fuel savings of Model S, provide an attractive value proposition compared to what’s available for a gasoline-powered car,” the company says.
At $70,000 at base, the Model S likely won’t be the most popular business car on the market, as its high price tag makes it a tough sell for small businesses trying to mind their wallets. However, it’s a positive that Tesla is getting a system in place prior to the release of the Gen-III mass market model, which will likely cost about half of the Model S’s MSRP and therefore may be a more attractive business proposition for small and medium-size businesses.