Tesla unveiled a new leasing policy for its Model S with an option for buyers in the U.S. to return the vehicle within three months of purchase.
U.S. Bank will now offer a lease for buyers of the new Model S lowering monthly lease payments by as much as 25 percent, Tesla Chief Executive Elon Musk confirmed in a blog post released on Oct. 25.
If a customer isn't satisfied and the car is returned within three months of purchase, the remaining lease obligation will be waived, Musk said in the post.
"Leasing now also comes with the Tesla happiness guarantee," Musk said. "If you don't like our car for any reason in the first three months, you can just return it and your remaining lease obligation is waived."
Tesla, which also provides an option of ordering the vehicle on its website, said once the vehicle is returned, it's not possible to immediately lease another Model S.
The new leasing option is likely to lower monthly payments by 25 percent, meaning the vehicle is also more affordable now with US Bank backing the overall deal.
"As always, leasing a car with Tesla involves no signatures or paperwork, unless required by your state DMV," Musk said. "You just read the super simple terms & conditions on the center screen, tap once and it is done."
In 2013, Telsa announced its partnership with Wells Fargo & Co and U.S. Bank to offer a 10 percent down payment on the purchase of a Model S sedan, the Wall Street Journal reported.
Tesla launched its all-wheel-drive Model S earlier this month, which is capable of parking itself and recognizing obstacles on the road. The most significant feature of this car is its ability to reach 0 to 60 miles/hour within 3.2 seconds, making it one of the fastest cars available.
See Now: OnePlus 6: How Different Will It Be From OnePlus 5?
