Tesla Model S

Tesla introduces gimmick-free car finance for Model S

Tesla Model STesla has announced its PCP-style HP finance packages for private buyers of the Tesla Model S in the UK – and its guaranteed resale values are amongst the best in the class.

The company promises 50% of the purchase price of a base 60kWh Model S after three years, plus 43% of all options (including the upgrade to the 85kWh battery pack).

That means, if you buy a new Tesla Model S through the scheme, you know you’ll be able to sell it for around half its value after 36 months.

A typical finance plan for the Tesla Model S through the company’s partner Alphera Financial Services, will involve a 15% down payment and an APR rate of 5.9%.

After three years, the customer can sell the car back to Tesla at an agreed price and pay off the HP contact, or keep hold of it and continue paying the finance.

Of course, payments are likely to be out of reach for the majority of us, with buyers expected to pay £820 a month in finance.

But Tesla points out that the typical Model S driver will save around £156 a month on fuel, as well as additional savings on road tax and London’s congestion charge.

So, in reality you’ll be paying around £650 a month for a car with few additional running costs. Worth it to be driving one of the coolest electric cars on sale?