With Tesla gaining momentum, credibility, and especially desirability, perhaps we shouldn't be surprised that it ended its Resale Value Guarantee program July 1, 2016. The EV landscape changed drastically in the last few years, and if buying a Tesla once felt like a gamble, the hundreds of thousands of Model 3 reservations show that consumers like their odds a lot better now. Reassuring them that their car will be worth more than other luxury automakers after three years is simply no longer necessary.
"We have discontinued the Resale Value Guarantee program as of July 1 so that we can keep interest rates as low as possible and offer a compelling lease and loan program to customers," Tesla said. "We will continue to support customers currently financed through the RVG program."
By ending the program, Tesla CEO Elon Musk should have some extra cash to spend as he pleases, as the program was backed by his own personal assets. It'll be interesting to see what he does with it.