Tesla financing resale value guarantee

Here are the terms and conditions of the Tesla financing resale value guarantee:

Welcome to the Tesla Family! Your vehicle identified above (“Vehicle”) qualifies for our Resale Value Guarantee (“Guarantee”). We guarantee that your vehicle will have a resale value after 3 years of at least the Guaranteed Resale Value specified above. This value is equal to 50% of the base purchase price of the 60kWhr Model S at the time of your purchase of the Vehicle, plus 43% of the original purchase price for all options including the upgrade to the 85kWhr battery pack (exclusive of taxes, fees and accessories). During the period between 36 months to 39 months from your Guarantee Effective Date, you have the option to sell your vehicle to Tesla for the Guaranteed Resale Value. This Guarantee is subject to the following terms and conditions: 


• The Vehicle is financed through Tesla’s official vehicle financing program with U.S. Bank, N.A., Wells Fargo Dealer Services, or Chase Auto Finance. The Vehicle will need to continue to be financed through this program and your account must remain in good standing for a minimum of 36 months. 
• The Vehicle is maintained by Tesla Motors or its subsidiary according to Tesla’s recommended service schedule. You must not have taken any action that would void the New Vehicle Limited Warranty on the Vehicle. 
• The Vehicle will be inspected by Tesla and the Guaranteed Resale Value will be adjusted for damage, excessive wear and use based on Tesla’s standards for normal use and for mileage in excess of 15,000 miles per year. Excess mileage will reduce your Guaranteed Resale Value at a rate of $0.25 per mile. 
• To exercise this Guarantee, you will need to contact us and deliver the Vehicle to us for inspection and purchase during the period between 36 months to 39 months from the Guarantee Effective Date. Prior to or in conjunction with our purchase of the Vehicle, you will need to provide proof of ownership and clear title for the Vehicle. To obtain clear title on the Vehicle, it is your responsibility to clear all outstanding obligations with the lender, including any principal amount, late payments, penalties, and other fees that may be due to the lender. 
• This Guarantee may not be assigned or transferred by you to any person or entity at any time. Only the Owner(s) identified above, and no other person or entity, including any heirs or successors, has any rights under this Guarantee. This Guarantee only applies to the vehicle identified above. Tesla Motors, Inc. and any of its successors hereto, may assign or transfer this Guarantee, or any portion thereof, to any third-party without your prior consent or approval. This Guarantee automatically expires on the 39 month anniversary of the Guarantee Effective Date. 

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