leasing
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Rivian’s electric truck is available to lease in 14 US states
Rivian has started a leasing program in 14 US states. The EV maker added the new financing option to its website, allowing customers to lease R1T electric pickup trucks for estimated prices starting at around $770 monthly.
Tesla's $35,000 Model 3 is only available as a special order
Tesla has halted online sales of the $35,000 Model 3, and will only sell it by telephone or in its stores, the EV maker announced. On top of that, it has made the Autopilot driver assist features standard on all its vehicles (except the aforementioned $35K model) and increased prices accordingly. The Model 3 Standard Plus, for instance, used to cost $37,500 plus $3,000 for Autopilot, and it now starts at $39,500.
French Renault Zoe owners can finally buy their batteries
Renault's all-electric Zoe has been very well-received in its home country of France, but the company's controversial battery-leasing scheme in the country has undoubtedly given potential buyers pause for thought. Either own the car and pay a monthly fee, or lease the whole car. The idea that Renault could snatch your battery away if you broke contract somehow didn't instil a huge amount of confidence. Yet the Zoe still became the most popular all-electric vehicle in France, and today the company has revealed that buyers will now have the option of owning the battery pack outright.
Uber will stop leasing cars to drivers in the US
Those rumors of Uber shuttering US car leasing for drivers were true. A spokesman has confirmed to the Wall Street Journal that it's closing Xchange Leasing in favor of a "less capital-intensive approach." To put it another way, the initiative cost far too much money -- the earlier leak had it losing about $9,000 per car versus the $500 it expected. The company hasn't said what it will do to replace the American program, although this isn't likely the end of leasing worldwide. Its program in southeast Asia is likely to continue despite problems with defective vehicles.
Uber is reportedly closing down its car-leasing program in the US
Uber's terrible, awful, no-good 2017 isn't over yet. Two years after it started leasing cars to drivers, the ride-hailing company has realized that it should've looked at the economics of such a little better. "The average loss per vehicle was about 10 times what they had thought," the Wall Street Journal reports. Specifically, WSJ's sources say that the company is losing around $9,000 per car. That's a stark contrast to the $500 per-car losses it expected.
Uber leased recalled cars to drivers in Singapore (updated)
Uber's troubles just keep on coming. A new report in The Wall Street Journal today says that the ride-sharing company knowingly leased recalled Honda Vezel sport-utility vehicles to Uber drivers. According to the Journal, Uber managers in the region were aware of the recall, but still bought and leased more than 1,000 of the Vezels to drivers in Singapore. This past January, says the report, one of the leased Vezels caught fire, melted the interior and cracked a football-sized hole in the windshield, all due to the same recalled electrical part.
Uber opens car-leasing program to lure in more drivers
Over the past few days, Uber's been busy introducing new PR stunts and dealing with a controversy about its app being deceitful. Today the company's making a move that, if it works according to plan, will benefit its long-term business strategy: it is piloting a car-leasing program for people who want to be Uber drivers. Up until now, the ridesharing firm had worked with Santander Consumer USA to offer a similar option to people, but this is the first time it's going to be done in-house. And Uber will have both new and used cars up for lease. As Re/code reports, California, Georgia and Maryland will have access to it initially -- but knowing Uber, it won't be long before the program heads to more states and, perhaps, more countries.
Tesla Model S is now cheaper to lease, comes with a return policy
Tesla has just revealed reduced lease rates for its Model S, along with a "happiness guarantee" that lets you return the EV up to three months after purchase with no penalty. Elon Musk said that buyers in certain states will get rates up to 25 percent lower, thanks to a new deal it struck with US Bank. Leasing currently starts at around $800 per month for a Model S. The return guarantee is "no questions asked," but Musk added that it's not possible to then turn around and lease a newer model unless you pay a pass-through fee. Tesla recently announced a new, more powerful "D" variant of the Model S and has the Model X SUV and cheaper Model 3 in development. The new lease rates and guarantee have led some to speculate that sales are down, but Tesla told the NYT that "demand remains extremely strong for the cars."
Tesla launches Roadster lease program for wannabe eco-ballers
Ain't got a hundred large to dump on a new Tesla Roadster? Fret not, as the outfit famous for producing the world's first commercially viable electric supercar now has another option for you to ponder: leasing. For those unfamiliar, it's somewhere in between buying one outright and swiping one while the salesperson's not looking, and it'll require just over $12,000 up front along with 36 payments of $1,658 in order to temporarily own the car of your dreams. Of course, that's just a model scenario based on a Roadster with an $111,005 MSRP, though the somewhat snazzier Roadster Sport is also included in the deal. Come to think of it -- if you get in on a lease now, there's a good chance that the Volt you pre-ordered will finally be in stock by the time you bid your Tesla a fond farewell. Right, Ed?
