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Tesla reveals new finance option for Model S

Tesla has announced a new ‘Model S’ financing programme for private customers in the UK.

Financing through Tesla’s partner, Alphera Financial Services, now comes with a guarantee that the Model S resale value will be among the highest of any premium saloon that is made in volume.

Tesla promises private customers a resale value of 50% of the base purchase price of the 60kWh version, during the 37th month of the hire purchase term - plus 43% of all options, including the upgrade to the 85kWh battery pack.

Tesla’s UK director, Georg Ell, said: “We understand that many customers enjoy the simplicity of a Hire Purchase but also may seek some assurance of the future value of Model S,”

“We want to do the right thing for customers, so we’re delighted to be able to offer this transparent and fair financing programme.”

Tesla customers financing through Alphera Financial Services pay a 15% down payment and an APR of 5.9% for the first 36 months and up to 72 months.  After 36 months, the customer can choose to sell the car back to Tesla at the pre-determined price and pay off the HP contract, or keep driving their Model S and continue financing it with the same monthly payment.

Model S drivers can expect a saving of £156 a month in fuel and additional savings of exemption from road tax and London's congestion charge, plus, Benefit in Kind savings when using the Model S as a company car.

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