Tesla alters financing following criticism
Last month Tesla said a new financing arrangement would make the Model S cost a mere $500 a month. Following critique in the press of Tesla's creative accounting, CEO Elon Musk announced revisions to the financing plan, now citing a net cost of $580 per month.
The two substantive changes to Tesla financing involve a revised resale value guarantee and longer term loans from partners Wells Fargo and U.S. Bank.
With the longer term loans, Tesla says the per-month cost of a Model S will be $580, taking into account the savings gained by running the car on … Read more