Tesla Motors has unveiled a new package of lease offers for its Model S all-electric sedan, including a three-month return policy.
Elon Musk, Tesla’s chief executive, said in a statement posted on the company’s website over the weekend that drivers who take out Model S leases have a three-month trial period during which they can return the car.
“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,” Mr. Musk said.
The deal is not without its limits, however. Drivers cannot use the deal to immediately lease a different Model S, though Mr. Musk said buyers looking to upgrade early can do so with a “pass-through fee” to cover the difference between the used value of the current Tesla and the new one.
The automaker also announced an arrangement with U.S. Bank to begin offering Tesla leases for less than the company itself currently provides. Mr. Musk estimated the leases through U.S. Bank could be up to 25 percent cheaper, because of the bank’s lower cost of capital.
Currently, Tesla offers leases on the Model S that start at around $800 a month, and top out at close to $1,300 a month for the highest-performance model. The down payments to achieve those rates range from about $6,500 to $7,000.
Tesla did not immediately respond to requests for comment.
The announcement comes after Tesla’s sales have fallen in the United States this year, though by how much remains unclear.
Because the company, based in Palo Alto, Calif., does not reveal detailed sales data to the extent that other automakers do, estimates calculated by industry-tracking firms can vary. According to Autodata Corporation, Tesla’s September sales were down 15 percent compared to the previous year, with year-to-date sales dropping 3 percent. Wards Auto estimated that Tesla’s September sales were down 11 percent, with year-to-date sales down 26 percent.
Tesla introduced an all-wheel-drive version of its Model S this month. Versions of the car feature semiautonomous driving capabilities that offer hands-off-the-wheel, foot-of-the-pedals highway driving.
Tesla will announce its third-quarter earnings on Nov. 5, after the markets close.
Tesla stock has experienced a meteoric rise since the beginning of 2013, when it traded for about $35 a share. Since the start of this year, the company’s stock is up nearly 50 percent, but it has been on a largely downward trajectory over the last two months. It closed at $221.67 on Monday, off more than 5 percent.
More From NY Times
- Food Scores, a New Web Service, Ranks Grocery Items on Ingredients and Nutrition
- Twitter Attracts Fewer New Users Than in First Half of Year
- DealBook: Results of Stress Tests Don’t Guarantee Better Economic Health for Eurozone
- Automotive Industry
- Autos
- Tesla Motors
- Elon Musk
