Tesla Motors (TSLA) 2-Year Lease Option Ends Monday

If you want to lease a Tesla Model S sedan or Model X SUV for two years only, you have only until Monday to do so. The electric car maker introduced its shortest lease options on Aug. 20, and announced at the time it will end on Sept. 12.

The company confirmed the Monday deadline for the short-term leasing options in an email Thursday, in which it said “only orders placed by September 12th are eligible” for the offers that start at $593 per month.

Previously, the shortest lease option Tesla offered was for three years. At the time it launched the two-year option, the Elon Musk-owned company said it had made the decision in response to popular demand for a shorter lease. However, customers opting for the shorter duration of leasing the vehicles will pay a significantly higher amount of money than their longer lease counterparts.

In the two-year lease, the down payment to be made is $7,288 for the starting 60 kWh Model S and $7,425 for the Model X. In comparison, the three-year lease requires a down payment of $3,862 for the Model S and $3,893 for Model X.

According to Tesla, vehicles ordered under the leasing program will be delivered in October.