Electric vehicle manufacturer Tesla has joined forces with Alphera Financial Services to launch a new finance program aimed at UK car buyers.
The finance package for the Tesla Model S comes with a Resale Value Guarantee, which the manufacturer claims offers a level of resale value protection which competes with any volume-produced premium saloon car. As part of the hire purchase package offered to private customers, Tesla promises to buy back the 60kWh-powered Model S after 37 months for half of its initial purchase price, plus 43 per cent of all options including the upgrade to the 85kWh battery pack.
The finance deal offered by Alphera will see Tesla Model S buyers pay a 15 per cent down payment, and 5.9 per cent APR for the first 36 months, after which they can choose to sell the car back to Tesla under the Resale Value Guarantee, or keep driving the car with an extended finance deal with the same monthly payment for up to 72 months.
Tesla hope the low running costs of the Model S, which is exempt from both UK Road Tax and the London Congestion Charge, as well as the Benefit in Kind savings, will help make it an attractive proposition to buyers in this country.
Georg Ell, Director of Tesla UK, said: “We understand that many customers enjoy the simplicity of a Hire Purchase, but also may seek some assurance of the future value of Model S. We want to do the right thing for customers, so we’re delighted to be able to offer this transparent and fair financing programme”.
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