Tesla China has announced a new “Financial Leasing” plan for more affordability as it offers the option of 0% down to purchase a vehicle, as well as several other financing options.
Bringing down the cost of Tesla’s cars, or at least offering more robust and flexible financing options so more people can afford its vehicles, is ultimately one of the goals of the automaker. Widespread EV adoption is already occurring in China, and Tesla is among the most popular manufacturers in the market. However, as competition increases, Tesla may have realized that more options need to be made available in terms of financing, making its products more appealing to the average consumer.
As a result, Tesla launched a new financing program in China, offering five options that make down payments, monthly payments, and terms more flexible for customers. It is a step in the right direction for the company to cater to more consumers and could increase sales in China slightly as more people will be able to afford Teslas.
According to the terms, Tesla is offering five types of financing: Cooperative Financial Institution Loans, Tesla Financial Leasing, 50-50 Flexible Financial Leasing, 36-month Flexible Financial Leasing, and 60-Month Flexible Financial Leasing (translated from Chinese via Google Translate):
Cooperative Financial Institutional Loans
“15% down payment, flexible choice of 5-year loan term and monthly fixed amount repayment method.”
Tesla Financial Leasing
“From 0% down payment, 5-year least period, flexible choice, using monthly installments to make a payment and have convenient use of the vehicle. After the lease expires, the vehicle can be re-acquired in accordable with the ownership agreement.”
50-50 Flexible Financial Lease
“Down payment of 50%, 1-year lease term, 50% of the car price as the balance, low monthly payment.”
36-Month Flexible Financial Leasing
“A down payment of between 20% and 70% of the price of the car, a 3-year lease term, 30% of the car price as the final payment, low monthly payment.”
60-Month Flexible Financial Leasing
“A down payment of between 20% and 70% of the price of the car, a 5-year lease term, 30% of the car price as the final payment, low monthly payment.”
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