If you're a little worried about handing over the keys to your Tesla to a valet, then you might be tempted to engage the car's "Valet Mode," which limits the speed of the car to 70MPH and tops out the power and acceleration to just 25 percent. But that also locks out the glove compartment and the trunk, and access to certain vehicle settings will be disabled. Now, however, Tesla's latest software update will now let you adjust the top speed of your car with a specific speed limiter feature, and directly from your mobile app.

According to the update, this speed limiter feature will let you "limit vehicle speed and acceleration with speed limit mode" and that the maximum vehicle speed can be set between 50 to 90 mph. So if you're concerned about little Timmy Junior putting the pedal to metal but you don't want to go full Valet Mode on him, then this might be a good way to control the speeds without locking him out of the rest of the car's features, for example.

There are other companies that allow a similar Valet Mode feature. Corvette, for example, has one that locks down your infotainment system, but also has a Performance Data Recorder tech that apparently records what's going on in your car while someone else is driving it, which is legally problematic in some states. Tesla's Valet Mode, however, supposedly doesn't have such a recording feature.

The software update for the speed limiter mode is rolling out starting today, and will gradually be available to the whole fleet.