Around three years ago, Tesla kicked off its in-house leasing program. As a standard lease is 36 months, there are a bunch of Tesla owners who are currently at the end of their leases.
This represents a great business opportunity for the company, which recently started sending emails to its customers offering them various options they can now choose from. Tesla has also set up a dedicated page on its website that contains all the lease-end options that are available.
The first one is to upgrade to a new Tesla. The company said that the new Model S is better than the previous versions, as it offers an updated styling and interior, dual motor all-wheel drive, Ludicrous Speed, self-driving hardware as well as more range. Customers can also opt for the Model X, which wasn’t available three years ago.
If you don’t want a brand new Tesla, the company is giving you an option to simply buy the one you already have at the end of your lease. Tesla mentioned that the EV is protected by a four year 50,000 miles/80,000 km (whichever comes first) warranty, but you do have the option of extending it to eight years or 100,000 miles.
There are two more options to choose from. The first is extending your lease for another six months and the second is to simply return the vehicle.