“This announcement will help advance EV adoption by allowing more Americans to experience the joy and convenience of owning a Tesla,” said Tesla CEO and Product Architect Elon Musk in a release for the press. “And like our current customers, our new customers will never need to visit a gas station again.”
Thanks to the aforementioned financing, a customer approved for a 5-year financing term on a base Roadster could put down as little as $20,000, taxes not included. The monthly payment would be approximately $1,700 at a 5 percent annual percentage rate (APR).
The monthly payment seems to be reasonable, since the Roadster gets to run nearly 244 miles per charge and costs roughly $4 to refuel. Moreover, the vehicle does not require routine oil changes or exhaust system work.
An online interface with the customers will be provided by the Bank of America, thus easing services like handling the documents, financing and servicing the Tesla vehicle loans. Financing is available for up to 75 percent of the total vehicle purchase price, and only granted to those U.S. customers who meet the Bank’s criteria.
According to Tesla Motors, the company has delivered more than 500 Roadsters so far, and starting this month it will also begin delivering the 2010 model-year Roadster and the new Roadster S, the Sport version of the Roadster.
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