Photo: Tesla Motors
Tesla doesn't use a dealership network, which means it needs to come up with all the number crunching BS all by itself. Judging by this latest gem, it seems like it has more than caught the idea, since it claims that you can get a Model S with just a 30 percent down payment and zero monthly cost.
There has to be a catch, right? I mean, Tesla is cool and all that, but it's not a charitable mission. It's actually trying to make some money and giving people a premium sedan for just £16,134 (the equivalent of $22,790) is not going to help it achieve its goal.
Don't worry, even though there is some truth to this claim, it's also very much shrouded in a not so thin veil of exaggerations and using the numbers to its own advantage. As you might imagine, it all starts with the newly introduced Model S 60, the least expensive car that Tesla currently has on the market. With a base price of £53,400, the EV isn't exactly cheap (the Brits do have to pay about £9,500 in VAT), but Tesla insists it's all a matter of perception.
On the other hand, they do get a £4,500 Plug-in Car Grant, so it's not all bad news for them. Then, by configuring the PCP (personal contract purchase) plan for a 16 percent down payment (the £16,134 we've been talking about), a 10,000 miles annual limit and a total length of 24 months, the monthly cost of the new vehicle (to be delivered in late August, by the way) sits at £318.
You don't need a degree in applied mathematics to know that 318 is very much different from zero. Yes, but this is where Tesla starts to talk about the other costs associated with owning a car, and it starts with fuel.
Then it chooses to assume you live near London and have to drive through the city center each day, so you need to factor in the Congestion Charge exemption as well. All in all, Tesla believes you can negate the monthly £318 and virtually own a brand new vehicle without any associated monthly costs. Except, of course, you still have to wire Tesla £318 each month.
Don't worry, even though there is some truth to this claim, it's also very much shrouded in a not so thin veil of exaggerations and using the numbers to its own advantage. As you might imagine, it all starts with the newly introduced Model S 60, the least expensive car that Tesla currently has on the market. With a base price of £53,400, the EV isn't exactly cheap (the Brits do have to pay about £9,500 in VAT), but Tesla insists it's all a matter of perception.
On the other hand, they do get a £4,500 Plug-in Car Grant, so it's not all bad news for them. Then, by configuring the PCP (personal contract purchase) plan for a 16 percent down payment (the £16,134 we've been talking about), a 10,000 miles annual limit and a total length of 24 months, the monthly cost of the new vehicle (to be delivered in late August, by the way) sits at £318.
You don't need a degree in applied mathematics to know that 318 is very much different from zero. Yes, but this is where Tesla starts to talk about the other costs associated with owning a car, and it starts with fuel.
Then it chooses to assume you live near London and have to drive through the city center each day, so you need to factor in the Congestion Charge exemption as well. All in all, Tesla believes you can negate the monthly £318 and virtually own a brand new vehicle without any associated monthly costs. Except, of course, you still have to wire Tesla £318 each month.
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