Tenet Offers Bundled Loans for EVs, Home Chargers

Tenet Energy, a climate financing platform, now offers customers the option to bundle the cost of at-home charging infrastructure and installation as a part of their electric-vehicle loan. Its integrated EV loan package was developed to meet growing consumer demand for simple, streamlined ways to make buying and owning EVs easier and more affordable.

The program launched in California this year, and the company plans to expand it nationwide in coming months.

Tenet’s climate financing offerings provide a completely digital, one-stop-shop for everything customers need to purchase and own an EV. They benefit from the company’s ability to lower monthly ownership costs by taking advantage of an EV’s unique attributes, such as government tax credits and high residual value. In addition to a new home charger, customers that take advantage of Tenet’s bundled EV loan can also wrap the costs of permitting, inspection, insurance and upgrades directly into their auto loans.

“The process of purchasing an EV can initially feel overwhelming because there hasn’t been a comprehensive solution that’s brought all of the necessary aspects of ownership into one simple financial offering,” said Tenet CEO Alex Liegl. “As more drivers consider EVs, they are searching for hassle-free, user-friendly solutions that put all of the tools they need to purchase and own an EV in one place. Giving our customers an easy, convenient, and affordable way to make a single monthly payment, at zero dollars down, allows us to keep pace with rapidly growing demand for EVs. Our partnership with Treehouse enhances our ability to deliver a great customer experience.”

Qualifying loan customers will have the option to receive an online quote for their at-home chargers. After completing a two-minute online survey about their home and preferred charger location, customers will receive an adjusted quote the next day. Within two business days, they'll get financing options for a bundled EV loan that includes their selected charger, permitting and installation costs.

Charger and installation services are provided by Tenet’s platform partner, Treehouse, whose technology allows EV buyers to receive an instant, guaranteed quote for home-charging installation at the point of sale. Instant pricing allows home charging to be integrated directly into the vehicle loan, reducing barriers to affordability for home charging. According to Tenet, customers can save up to $1,000 per year in fuel costs by bundling their EV and home charger payments.

“EV owners typically have to jump through various hoops to install at-home chargers,” said Treehouse CEO Eric Owski. “Permitting, for example, is a particularly laborious process and a pretty big headache for the average consumer. Having to do it alone, get multiple quotes from multiple local electricians, and figure out what level charger fits your needs, is complicated and can deter potential first-time EV buyers. Tenet is solving the EV buyer market’s key pain points, by creating an easy press-of-the-button solution that makes EV ownership easier than ever before.”

Learn more about Tenet’s bundled EV and charger installation loans here.