Tesla is changing course with its lease/financing plan, with CEO Elon Musk tacitly admitting that Tesla got it wrong the first time around.
Initial calculations of the Tesla “lease” program included some overly optimistic values for things like gas prices as well as how much one’s time was worth (and this, how that could be saved by not having to fill up with gas). According to Wired magazine, the new calculator is much more grounded in reality, with Musk describing the changes himself
“Everything except gas prices are off by default on the new payment calculator on the website…We’ve changed the defaults to be more conservative. [In the original calculator] we included too many non-financial elements.”
Tesla has also managed to extend the financing terms from 63 to 72 months, while Musk’s resale value guarantee has now been extended to be better than “any premium sedan made in volume,” with low volume high performance models specifically excluded.