Finance now available on Teslas ordered in NZ

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Linuxluver

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#223711 13-Oct-2017 23:12

If you want a basic, no-frills Tesla Model S, you can (apparently) get one much more easily now.

The Tesla.com NZ web site now includes pricing for car finance.

You can order a basic Model S with a 75kWh battery (range about 350km-400km real world) and all wheel drive (full price $121,395 - incl GST and on-road costs) by putting down as little as 10% up front ($12,140) and on a 5 year loan paying $1,726 / month......with a final "balloon" payment of $30,349 due at the end of the 60 month term. This places the total cost of the car at $146,070......but you didn't have to stump up the full price on Day One....

You could factor in never buying petrol and also have free access to the Tesla Supercharging network in NZ (10 sites by the end of 2018).

This is the cheapest option (well.....lowest cashflow option) . Choose more options and the monthly payment doesn't go up much.....but the balloon payment gets bigger.

So can you afford $1726 / month? That's about $432 / week.

If you can put down 30% up front, the monthly payments fall to $1249. The balloon payment stays the same.

Have a play. It would definitely make it easier to get into a Tesla Model S. The basic model doesn't include access to the self-driving functionality.

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#1883346 14-Oct-2017 12:38

Whilst the Tesla’s looks nice. $120 grand could buy a pair of economical cars and still have money left for a few year of fuel, or alternatively a reasonably nice car(even a phev or cheaper ev) and many, many years of fuel.

It gets worse when you look at other Tesla speced up models ( I managed to get one up to 220k) where you could buy a cheap house (outside of Auckland) or put a depositdown on an Auckland property.

It’s one of the reasons why I settled for an outlander phev- reasonable price, day to say EV capability and good capability to go point to point. While the newer 2017 model does have fast charging, it doesn’t bother me with my non fast charge version - in some respects - petrol is cheaper than paying for a fast charge ($10 for 50km (charge net) vs $1.10 for 50km (home power - off peak ev plan) vs $9.73 for 100km (gull/Waitomo 91)) and it takes 2 minutes to get 500km+ range.

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Aredwood

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#1883692 15-Oct-2017 02:46

The Model S was never intended to compete with a Nissan leaf or a Mitsubishi. Price up an ICE car with similar acceleration to a P90D Model S. The Tesla would have far lower total cost of ownership.

Talkiet

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#1883700 15-Oct-2017 08:59

we might as well have a discussion about how finance makes AMG Mercedes or Audis, or even some Ferraris affordable :-)

I'd love a Model S, but let's not kid ourselves, if you can't afford a supercar, you can't afford a good Model S.

Cheers - N

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Geektastic

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#1883735 15-Oct-2017 11:42

Linuxluver:

If you want a basic, no-frills Tesla Model S, you can (apparently) get one much more easily now.

The Tesla.com NZ web site now includes pricing for car finance.

You can order a basic Model S with a 75kWh battery (range about 350km-400km real world) and all wheel drive (full price $121,395 - incl GST and on-road costs) by putting down as little as 10% up front ($12,140) and on a 5 year loan paying $1,726 / month......with a final "balloon" payment of $30,349 due at the end of the 60 month term. This places the total cost of the car at $146,070......but you didn't have to stump up the full price on Day One....

You could factor in never buying petrol and also have free access to the Tesla Supercharging network in NZ (10 sites by the end of 2018).

This is the cheapest option (well.....lowest cashflow option) . Choose more options and the monthly payment doesn't go up much.....but the balloon payment gets bigger.

So can you afford $1726 / month? That's about $432 / week.

If you can put down 30% up front, the monthly payments fall to $1249. The balloon payment stays the same.

Have a play. It would definitely make it easier to get into a Tesla Model S. The basic model doesn't include access to the self-driving functionality.

And if you do not live near the 10 spots?

Jase2985

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#1883738 15-Oct-2017 11:50

you charge at home or use one of the slower charging stations which there are hundreds of around the place

frednz

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#1883790 15-Oct-2017 13:08

Talkiet:

we might as well have a discussion about how finance makes AMG Mercedes or Audis, or even some Ferraris affordable :-)

I'd love a Model S, but let's not kid ourselves, if you can't afford a supercar, you can't afford a good Model S.

Cheers - N

How much money do you need in the bank before you can say that you can "afford" to pay cash for a car that costs $121,395?

Even someone with $2,000,000 in cash funds may decide that, even though they could "afford" to pay $121,395 for an EV, it's just not worth that amount of money!

Some very wealthy people drive around in modest cars (costing less than $50,000 new). But, if cars really are your main interest, then go for it, even if it bankrupts you!

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Linuxluver

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#1883845 15-Oct-2017 17:34

Geektastic:

And if you do not live near the 10 spots?

You charge at home or on someone else's charging network (same as today).

But if you look at the map about 75% of Kiwis do live near one of those 10 charging spots.

These fast / super chargers are more about traveling than daily driving. When I'm around town I almost always plug in at home unless I've had a BIG day and been running around a lot. Like today....I drove the 140km to Te Kauwhata and back, then fast charged for 13 minutes on the North Shore back up to 80% and carried on with my errands.

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Linuxluver

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#1883846 15-Oct-2017 17:37

frednz:

How much money do you need in the bank before you can say that you can "afford" to pay cash for a car that costs $121,395?

Even someone with $2,000,000 in cash funds may decide that, even though they could "afford" to pay $121,395 for an EV, it's just not worth that amount of money!

Some very wealthy people drive around in modest cars (costing less than $50,000 new). But, if cars really are your main interest, then go for it, even if it bankrupts you!

Different people have different priorities. I know guys who pour every penny into boats or horses or flying or.......whatever. I know other people who have a family home in Auckland their grandparents bought 75 years ago for lunch money (today).....and they put a Tesla Model S on the revolving mortgage.

Other people might have $10 million in the bank and feel that one pair of shoes is good....why waste money on a second pair? :-)

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Linuxluver

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#1883863 15-Oct-2017 17:50

cokemaster: Whilst the Tesla’s looks nice. $120 grand could buy a pair of economical cars and still have money left for a few year of fuel, or alternatively a reasonably nice car(even a phev or cheaper ev) and many, many years of fuel.

It gets worse when you look at other Tesla speced up models ( I managed to get one up to 220k) where you could buy a cheap house (outside of Auckland) or put a depositdown on an Auckland property.

Absolutely.....one can definitely decide to see it that way. :-) Most people would.

But on the other hand.....having to put down $12,140 (10% deposit - equivalent to poor Gen 1 LEAF) and then pay $1725 / month for 5 years (do-able for many if you don't have other debts and earn $100k+)....and then finish up adding another $30k in 5 years time (late 2022)....and you didn't need a pile of cash to do it.

Some people would seriously consider that for the range (450km) and the style of a Model S 75D. They can probably enable the other functions like self-driving and full-autonomy later.....

It’s one of the reasons why I settled for an outlander phev- reasonable price, day to say EV capability and good capability to go point to point. While the newer 2017 model does have fast charging, it doesn’t bother me with my non fast charge version - in some respects - petrol is cheaper than paying for a fast charge ($10 for 50km (charge net) vs $1.10 for 50km (home power - off peak ev plan) vs $9.73 for 100km (gull/Waitomo 91)) and it takes 2 minutes to get 500km+ range.

The PHEV is a good way to go for many people. Still reducing emissions. Many people can do all their daily driving within the EV range of their Outlander. Plus it's getting a feel for EV driving much / part of the time. I think that matters.....because the quiet and smoothness of it is addictive once you've been doing it daily.

I agree paying for charging probably doesn't make sense given the limited EV range available with a PHEV.

I won't be buying a Tesla on this deal.......but whereas I simply didn't consider it before at all.....this time I sat down and did the numbers and it almost looked good enough to forward on it. :-)

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Talkiet

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#1883879 15-Oct-2017 18:11

Aredwood: The Model S was never intended to compete with a Nissan leaf or a Mitsubishi. Price up an ICE car with similar acceleration to a P90D Model S. The Tesla would have far lower total cost of ownership.

There are Caterhams that are that quick.. And the ones that are _nearly_ that quick are a LOT less :-) (ok, yes, different markets I guess)

Cheers - N

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#1884008 15-Oct-2017 21:26

For me the interesting factor here is the possibility of doing this on the far more affordable Tesla Model3 (in a few years time when availability is not so tight)

This may then put me in the range of my first ever ‘brand new’ car instead of needing to wait for you people like you chaps to want a bigger better one and flicking of your good second hand one... or maybe I should just run for election and get the Primary school teacher salary brought up to a Tesla range car affordability rate 🤔

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cokemaster

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#1884054 15-Oct-2017 22:36

Indeed - the Model 3 pricing is heading in the right direction... would be good to see some other form factors eg. SUV / hatchback.

We'd seriously consider a 7 seater EV with reasonable range and in the sub-100K range... but for now - prepared to wait - our Prius V works well for now.

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Linuxluver

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#1884071 15-Oct-2017 23:50

cokemaster:

Indeed - the Model 3 pricing is heading in the right direction... would be good to see some other form factors eg. SUV / hatchback.

We'd seriously consider a 7 seater EV with reasonable range and in the sub-100K range... but for now - prepared to wait - our Prius V works well for now.

Hyundai Kona SUV should be out in 2018.....fingers crossed.

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#1884139 16-Oct-2017 10:03

PhantomNVD: For me the interesting factor here is the possibility of doing this on the far more affordable Tesla Model3 (in a few years time when availability is not so tight)

Yeah, but in the meantime Tesla are essentially putting up the price of the Model S by removing the lower price points,

60Kw option- Gone

Rear wheel drive only - gone,

I know this is to make the "value proposition" on the model 3 up sales seem more attractive, but for RHD markets it makes the entry point pretty steep until 2019 when the 3 will be available,

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#1884144 16-Oct-2017 10:15

I think the Tesla S is good value in it's price range considering the performance stat's.

Still twice as much as I can ever see myself spending on car. But in the event of a lotto win it's a possibility (I don't buy a ticket very often).

If it's US backed finance, then the interest rate should be very competitive - i.e. under 3%.

I'm not sure how much of a game changer finance is in that price bracket. I've always assumed people who can afford a $120k car just buy them.

Making the leaf available new with Japanese finance would have more impact on uptake by the general public.

Mike

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