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Tesla Introduces Business Leasing

Now companies can also lease the Model S electric car.

Early Tuesday, Tesla Motors announced a new program allowing businesses to lease the company’s popular Model S electric car. The Palo Alto, Calif., vehicle manufacturer set up a subsidiary to offer the product, known as Tesla Finance. Companies can go through the entire leasing process online and sign for the Model S upon delivery with a tap on the car’s touchscreen. A year ago, Tesla introduced a Resale Value Guarantee that allows customers to return the Model S for a set value, which adds up to the “functional equivalent of a lease” when combined with a loan from one of the company’s partner banks.

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