Hong Seh Motors Launches New Lease To Own Scheme for the Long-Awaited Tesla Model 3

SINGAPORE – Media OutReach – 1 July 2021 – Hong Seh Motors announces the launch of the much-anticipated lease
to own scheme for the Tesla Model 3. With this scheme, customers are
required to pay a 10% down payment and choose between a 5 or 7-year tenure
period.

The scheme was
launched in response to the growing popularity of lease to own schemes in
Singapore thanks to the increase in COE and car prices. The scheme offers
drivers an alternative to car ownership, promising drivers the opportunity to
rent and drive a car for the long term without the hefty costs involved in
buying a vehicle.

Such schemes
typically help drivers to cut costs with their lower monthly instalment
repayments.

Features Of The Tesla Model 3 Lease To Own Scheme

Hong Seh Motors’
lease to own scheme offers drivers the chance to drive a Tesla Model 3 bought
directly from Tesla Singapore itself.

Features of the
scheme include:

• No impact on total debt
  servicing ratio (TDSR)

Taking on this
scheme will not affect the TDSR and loan eligibility of Hirers, allowing them
to take on additional loans without worry.

• Warranty provided by Tesla
  Singapore

The scheme
allows customers to drive with a peace of mind by providing a warranty on all
cars that are offered by Tesla Singapore.

• 24-hour emergency customer
  support service

In case of
breakdowns or other issues, drivers can contact Hong Seh Motors’ 24-hour
emergency customer support service for assistance.

How The Tesla Model 3 Lease To Own Scheme Works

The company
requires all customers to go through a quick eligibility check. The company
describes the evaluation as a quick check that will usually take them no more
than 1 working day to complete. Thereafter, the customer is informed of the
evaluation outcome before proceeding with the leasing scheme.