Model S drivers have the flexibility to choose from several compelling finance options to experience the thrill of driving the 2013 Motor Trend “Car of the Year.” With either a hire purchase or financial lease, Model S drivers enjoy the advantage of low interest rates and competitive monthly payments. In addition, Model S drivers benefit from the unique cost advantages for driving Model S, such as no first registration fee, cheaper fuel including free use of Tesla’s Supercharger network and a reduced rate on the annual vehicle license fee.
What is the financing program?
Tesla has partnered with ORIX to offer tailor-made financial solutions exclusively to Tesla customers with terms of 12 to 60 months and financing options equal to almost 100% of a vehicle’s configured price. Both private and business customers can select either a financial lease or a hire purchase offering.
What is the difference between a financial lease and a hire purchase?
A financial lease offers low monthly payments in exchange for several monthly payments paid up front. Customers who desire a lower out of pocket financing option can choose a hire purchase with a down payment as little as HK$19,000 (equal to the Model S order deposit) and no advance monthly payment. In both cases, customers can simply purchase Model S after the term of the financing arrangement for a low transaction fee.
When can I apply for financing?
You may apply any time before your Model S is registered. We recommend applying a few weeks before delivery.
What is the process for getting approved?
The application is just a few simple questions that can be found in My Tesla. ORIX will follow up with a phone call to collect additional information including income verification documentation and communicate the approval decision directly with you.
Do I need to insure my Model S?
Yes, your Tesla Delivery Specialist will ask for proof of insurance to finalize financing prior to delivery.
Can I pay off my financial lease or hire purchase early?
You can pay off your hire purchase or financial lease at any time during the term of the contract subject to early termination fees.
I have additional questions. Who can I contact?
Your Sales Advisor and Delivery Experience Specialist can answer your questions. You can also contact us here.