Tesla introduce the ‘Buy Back’ program


Tesla has introduced a finance plan for its Model S luxury sedan, which guarantees the resale value of its high-performance electric vehicles after three years.

The American car-maker is offering to buy back any Model S purchased under the Tesla Resale Value Guarantee program for at least half the price of a 60 kWh variant after 36 months. That is equivalent to leasing with a 50 percent residual after three years.

There are some catches (there always are) as the full guarantee value is only offered for vehicles that have covered fewer than 60,000 km and the Model S must have been financed for a repayment term of between 36 and 60 months.

In Australia, the guarantee is the result of a deal struck between Tesla and Australian finance provider Macquarie Leasing and offers a resale price “among the highest of any premium sedan made in volume.”

Tesla Australia spokesperson Heath Walker said the finance and guaranteed value package gives further peace of mind to Model S owners.

“Every car owner wants a fair and transparent financing program and an assurance that their car will retain its value,” he said. “Only Model S gives us the ability to combine that for them. I am proud that Tesla can offer Model S owners increased confidence in the value of their purchase.”