Two of the biggest names in second hand car sales are offering a guarantee of the second-most expensive car in Hong Kong to first-time buyers.

Electric-car maker Teslas has revealed that it will offer a $2,000 second-leg guarantee to first time buyers of its Tesla SE, as well as its $2.50 Teslas for sale in Hongkong.

The price of the Tesla SE has risen to HK$1,091.49 (HK$1.739) from HK$2,500 in Hong kong on August 30, with the cost of the new Tesla SE going up to HK $1,957.49.

The offer of the guarantee will be extended to other third-party brands.

It comes after Teslas revealed it had extended its guarantee to second- and third-hand vehicles for a year.

The second-hottest car in the Hong Kong market is the $2-million Model S, which has become the most-popular car in Asia.

It is the second most popular model of all time in the United States, with sales in the US rising by more than 150 percent in the past year.

Tesla also announced it was launching a second-level premium tier, with prices starting at HK$19,999.50 (HK $22,979.50).

The first tier will be offered for HK$24,995.50 ($27,917.50), with the new premium tier priced at HK $27,975.50($31,931.50) in Hong Kong.

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