Even if Tesla couldn't take advantage of the tax credit, they can find a bank who could. Leases are riskier than loans for banks for a few reasons: - The bank

Even if Tesla couldn't take advantage of the tax credit, they can find a bank who could. Leases are riskier than loans for banks for a few reasons: - The bank has to place a bet on the value of the car 36 months from now--a huge risk. With a loan, they only have to bet on the credit-worthiness of the borrower, and they can ask for additional collateral, if they wish. - In case of a lease default, there is no equity in the car, because lessors, by definition, only pay for depreciation. On a loan default, there is usually at least some equity in the car. - Usually the down-payment is less for a lease than for a loan (Tesla's program requires 10% down, almost unheard of for a lease). All of these factors taken together mean that the bank is much less likely to take a bath on a loan than a lease.