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Tesla Model 3 Preorder Incentives and Production Updates: Tesla Offers Two-Year Lease Option for Model S and Model X

( [email protected] ) Aug 26, 2016 06:46 AM EDT
The Model 3 won't become of available very soon. While waiting, buyers can enroll to Tesla's newest program. The company just launched a new two-year lease program for all of its latest vehicles. The two-year lease option could act as a bridge for those who preordered the Model 3.
People visit a Tesla Model S car during the Auto China 2016 in Beijing, China, April 25, 2016. REUTERS/Jason Lee/File Photo

The Model 3 won't become of available very soon. While waiting, buyers can enroll to Tesla's newest program. The company just launched a new two-year lease program for all of its latest vehicles. The two-year lease option could act as a bridge for those who preordered the Model 3.

Tesla revealed its new program in an email, according to a report from Electrek. The two-year lease program has been heavily requested by fans. With $593 per month and $6,000 down payment, buyers can drive a Tesla Model S, the bare-bones entry model, for 10,000 miles per year.

For Model X, on the other hand, buyers have to shell out $7,400 for down payment and $730 per month. This promo has the same 10,000 miles per year mileage cap.

Furthermore, Tesla offers three-year lease option for the Model S and Model X. The 36-month term on the Model S results in a lowered down payment of $5,000 and monthly payment of $667 for 10,000 miles a year. For the Model X 60D, the same 36-month term increases the monthly payment for up to $788.

Take note that the 24-month lease option for the Model S and Model X is only available until September 12. For more information about the program, visit Tesla's official website.

The specs of Model S and Model X are listed below.

Model S 

  • Range: 315 miles (EPA Estimate)
  • 0-60 mph acceleration in 2.5 seconds
  • 0-100 km/hacceleration in 2.7 seconds
  • Base price: $134,500

Model X 

  • Range: 289 miles (EPA Estimate)
  • 0-60 mph acceleration in 2.9 seconds
  • 0-100 km/h acceleration in 3.1 seconds
  • Base price: $135,500

Now, for the preorders of Model 3, Tesla reportedly received more than 400,000 reservations for the electric car. This means someone placing a reservation right now shouldn't expect to get the car for another 2 years. We previously reported the reservation for Model 3 costs around $1,440.

Tesla CEO Musk said the production of Model 3 will start next year. He said the car would be able to provide a minimum range of 215 miles on a single charge. The rear-wheel drive model can run from 0-62mph in less than six seconds. On the other hand, the dual-motor all-wheel-drive model has the ability to charge from 0-62mph in less than four seconds. Both models are powered by advanced lithium ion batteries and all-electric powertrain.

Stay tuned with Gospel Herald for more update. 

Tags : Tesla Model 3 pre-orders, Tesla Model X, tesla model s, Tesla CEO Elon Musk, Tesla's Two-Year Lease Program