Tesla Model S ‘Limited Time’ Lease Offered At $698 Per MonthTesla Model S ‘Limited Time’ Lease Offered At $698 Per Month

Perhaps to stimulate buyer interest during typically slower winter months, Tesla Motors is touting a new lease deal for its Model S electric luxury sedan.
This “limited time” offer allows customers to lease a new Model S for as little as $698 per month.
But the rate applies only to the Model S 70–the least-expensive version of the electric car.
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Equipped with the 70-kilowatt-hour battery pack and rear-wheel drive, this model carries a base price of $71,200.
That includes a $1,200 destination fee, but does not include any Federal, state, or local incentives that may be applied to the purchase.
The Model S 70 has an EPA-rated range of 230 miles, can do 0 to 60 mph in 5.5 seconds, and reach a top speed of 140 mph, according to Tesla.
2016 Tesla Model S
Tesla also offers 85- and 90-kWh battery packs options on the Model S, as well as a dual-motor all-wheel drive system and a performance package–all of which bring higher lease payments, of course.
But even shoppers looking to stick with the base Model S 70 should be aware of a couple of asterisks.
The $698 monthly rate only applies to the three-year lease, with an annual cap of 10,000 miles.Tesla also offers 12,000 and 15,000-mile allowances.
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The lease deal also calls for $6,393 due at signing.
Still, this is the cheapest lease option currently available for a Model S.
In comparison, upgrading to the 85-kWh battery pack–while sticking with rear-wheel drive–boosts lease payments to $865 per month.
2016 Tesla Model S
And going full bore by selecting the P90D–the all-wheel drive performance model with a 90-kWh pack–brings a monthly lease rate of $1,367.
New orders will be delivered in March, Tesla’s website said at the time of publication.
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That’s fairly quick, considering that Tesla is now also ramping up production of its Model X crossover.
A handful of vehicles in top P90D spec were delivered late last year, and Tesla began taking orders for lower-level models in November.
The company now says new reservations will be delivered in the “latter half of 2016.”
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