If you are in the market for a Tesla you’re probably better off leasing rather than buying one. That is the message from inc.com’s article on a twitter conversation between the man himself, Elon Musk, and one of his Twitter followers, regarding the high speed turn around on Tesla car upgrades.
In a recent exchange on the social media platform Twitter, fans asked if it may be possible for Tesla cars to be retrofitted with new product features, instead of having to buy a new car each time the manufacturer introduces a new upgrade.
Elon’s response was emphatic. He said, “Tesla will never stop innovating. People are buying the wrong car if they expect this. There will be major [revisions] every 12 to 18 months.”
As shocking as this may be for Tesla fans, this is not a new concept. Companies all over the world are doing the same thing, releasing one product only to go back and improve the recently released technology and launch a newer, more innovative version before their competitor does.
The rapid speed in which technology moves not only affects the general consumer population but businesses too. With technology moving at such a frantic pace, how do businesses keep up with the latest equipment without exhausting their capital and that of their shareholders? Keeping unproductive, out of date equipment can be debilitating to a business but so can a lack of financing options.
Luckily, there is an obvious solution for businesses who wish to always have access to the latest technology but don’t want to spend substantial amounts of money for this privilege: work with a funder who is able to be flexible and structure a solution for you and not a ‘one size fits all’ standard product.
Using an asset finance solution, such as a leasing product, means you can upgrade the asset at the end of the term, as well as many other benefits including freeing up business capex to use on other areas of the business. So if your business needs access to state-of-the-art plant and equipment, it’s critical to explore alternative finance solutions.