We've been seeing a lot of the Tesla Model S around town—partly thanks to the fact that there are solar-powered car-charging stations right outside our coworking space at Cruzioworks (see above).
This phenomenon could increase thanks to a new plan, announced by Tesla this week, that will make it easier for luxury car buyers to get into this incredible machine.
The plan would allow Tesla buyers to use the US government's $7,000 electric car subsidy as a down payment. Two banks—US Bank and Wells Fargo—have agreed to finance 90 percent of the purchase price in advance of the subsidy. Tesla also has guaranteed a buy-back after three years.
"You can buy a Model S for no money down net of the tax credit and for $500 a month," Tesla chief executive and half-mad genius Elon Musk told CNN.
Note that he arrives at that figure by subtracting the savings drivers will get by not having to buy gasoline. The actual monthly payment is closer to $1,200 per month. Priced between $70,000 and $100,000, it is priced to compete with the BMW 7-series and Mercedes-Benz S-class.
Full disclosure: I am a big fan of Tesla and electric cars in general, as this totally biased article shows.
Eco-car geeks will enjoy geeking out on this vid from Automobile Magazine:
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