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Tuesday, July 14, 2009

Your $465 million TARP Money Financed This $101,500 Roadster!

Obama and his bumbling crew gave this company, Tesla, $465 million of YOUR TARP money to makes this ridiculous car (whose auto loans will be financed by another bailed-out TARP recipient, B of A), that nobody wants or can afford.. Do you know of anyone that wants a $101,000 electric sports car?? I don't...
SAN CARLOS, Calif.--(BUSINESS WIRE)--July 14, 2009--
Tesla Motors announces Roadster financing in the United States by Bank of America, thus significantly expanding the number of customers who can experience the all-electric Roadster.
Bank of America financing makes the Tesla Roadster much more affordable.
For example, a customer approved for a 5-year financing term on a base Roadster could put down as little as $20,000 before taxes and net of the US federal tax credit. The monthly payment would be approximately $1,700 at a 5 percent annual percentage rate (APR).
The actual APR of the loan will be dependent on individual customer credit and history, and neither Bank of America nor Tesla Motors can commit to an APR without a customer completing the loan application process.
That monthly payment is typical for high performance cars -- but Roadster drivers will enjoy hundreds of dollars per month in savings unavailable to gas guzzlers. The Roadster, which gets an estimated 244 miles per charge, costs roughly $4 to refuel and does not require routine oil changes or exhaust system work. Unlike high-maintenance internal combustion engines, Teslas get a 100 percent waiver on sales, luxury and use taxes in at least four states, and they qualify for commuter lane privileges, free parking and free charging in many regions.
Bank of America will directly finance, document and service Tesla vehicle loans for customers, providing a very easy online interface for these services. Financing is available for up to 75 percent of the total vehicle purchase price. Tesla is taking reservations for the sedan, which has an anticipated base price of $49,900 after the tax credit.

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