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There are many choices when it comes to structuring your EV deal. We find the terms that work for you.
Cash purchase. This is the simplest approach, although not the most common. You give us a check and you own the EV. Insurance is your responsibility. After 30 days/1000 miles, maintenance and repair are entirely your responsibility. Works for many customers. Note of course that incentives can significantly reduce the effective cost of a cash purchase.
Financed purchase. This is the most common approach. You own the car but use a loan to pay for it. Insurance is your responsibility. Again, after a short period, maintenance and repair are entirely your responsibility. Also works for many customers, particularly those with good credit scores. Interest rates are way up in the past year, and typical terms for a $20,000 used EV are $2,000 down and $450/month for 60 months. Again, incentives can significantly reduce the effective cost. We work with you to find the best deal.
Long-term lease (2-4 years). Leases are common for new vehicles but are virtually unheard of for used ones. We offer a no upfront, no exit payment lease with 1,000 free miles a month. At the end of the lease, you return the EV to us and are done (assuming there are no excess miles and it has only normal wear and tear). During the lease, we take care of much of the needed maintenance and repair. Currently, the typical monthly cost for a 3-year lease for a $20,000 used EV is $450/month. Some incentive programs apply to long-term leases as well as sales, so the effective cost can be reduced.
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