Pricing for the Tesla Roadster starts at $109,000 without any discounts

Pricing for the Tesla Roadster starts at $109,000 without any discounts

Tesla has announced that it is partnering with the Bank of America to offer a range of new financing packages for its all-electric Roadster in the hope to "significantly" expand the number of customers who can experience the groundbreaking Bank of America will directly finance, document, and service vehicle loans for customers, providing a very easy online interface for these services. Importantly, all agreements and payments will be between the customer and Bank of America.

This doesn't mean that almost anyone with a decent credit rating can come in and drive away with a new Tesla Roadster. Considering that the car still retails for more than $100,000, monthly repayments would equate to roughly $1,650 taking into account a $7,500 federal tax credit, a $20,000 down payment and 7.7% financing over a 60 month loan period.

There are however some significant savings to be made by buying the all-electric Roadster. As Tesla points out, owning a Roadster can result in a lower total monthly cost than a gas-guzzling sports car with a similar sticker price. Thanks to the low cost of electricity versus gasoline, the Roadster costs roughly $4 to fully recharge – a bargain even when gasoline costs less than $1 per gallon. Furthermore, the Roadster has far fewer moving (and breakable) parts than internal combustion engine sports cars, which means it does not require routine oil changes, or parts like an exhaust, spark plugs, pistons, hoses, belts and clutches to be maintained.

The latest announcement only affects Roadsters sold in the U.S. but eventually Tesla plans to offer financing for its Model S sedan, currently slated for launch in late 2011.