http://www.usatoday.com/story/money/cars/2013/04/02/elon-musk-tesla-lease/2047863/
Billionaire Elon Musk says he's personally going to guarantee a buyback value for his Tesla electric cars under a newfangled payment arrangement -- even if his company were to go out of business
Tesla CEO Musk unveiled the new financing plan Tuesday in an effort to make Tesla Motors' pricey electric cars a bit more affordable. In the twist that makes the deal special, Musk will personally fork over the percentage difference between a Tesla Model S sedan depreciation at the end of three years and the depreciation over that time of the benchmark to which it has been pegged, a Mercedes-Benz S Class sedan. And he's putting his fortune behind it.
"Even if Tesla is unable to honor it, I will personally do so. That's what I mean by putting my money where my mouth is," said Musk in a conference call with reporters
Billionaire Elon Musk says he's personally going to guarantee a buyback value for his Tesla electric cars under a newfangled payment arrangement -- even if his company were to go out of business
Tesla CEO Musk unveiled the new financing plan Tuesday in an effort to make Tesla Motors' pricey electric cars a bit more affordable. In the twist that makes the deal special, Musk will personally fork over the percentage difference between a Tesla Model S sedan depreciation at the end of three years and the depreciation over that time of the benchmark to which it has been pegged, a Mercedes-Benz S Class sedan. And he's putting his fortune behind it.
"Even if Tesla is unable to honor it, I will personally do so. That's what I mean by putting my money where my mouth is," said Musk in a conference call with reporters