Tesla Lending Rates Jump for Second Straight Quarter

After Tesla Inc. increased the interest rate on Model S and Model X vehicles in the fourth quarter of last year, the company has again increased the interest rate for the second quarter in a row — this time by 100 basis points. In 3Q17, the electric car manufacturer’s U.S. interest rate was 0.99%, before jumping […]
  • Emma Sandler
  • January 11, 2018
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Electric Vehicle Credits Remain in 2017 Tax Reform Bill

A tax credit of up to $7,500 for electric vehicles survived in the final tax reform bill that was sent to President Donald Trump to sign, signaling a win for automakers. The House of Representatives bill originally struck the Obama-era provision as of Dec. 31, but the Senate version of the bill was ultimately the […]
  • Emma Sandler
  • December 21, 2017
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New Tesla Roadster Reaches Record-Breaking Speed [VIDEO]

Last week, in a surprise unveiling during Tesla Motors’ scheduled showing of its new semi-truck, a new car was introduced. Let’s rephrase that actually, because that seems like an understatement: A brand new, record-breaking, revamped Tesla Roadster was shown off to riotous applause. The Roadster can accelerate from zero-to-60 miles per hour in 1.9 seconds, making […]
  • Emma Sandler
  • November 24, 2017
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Tesla Used-Vehicle Sales Rise Amid Model 3 Production Issues

While Tesla Motors Inc. has been battling bottle-neck production issues for its Model 3 vehicle, used Model X and S vehicle purchases more than doubled from the prior quarter, according to the company’s third-quarter earnings yesterday. Tesla delivered 25,915 Model S and Model X vehicles and 222 Model 3 vehicles in the quarter, for a […]
  • Emma Sandler
  • November 2, 2017
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Tesla Grows Lease Portfolio by 33% in 2Q

Tesla’s financing program grew lease outstandings by 33% in the second quarter compared with the prior-year period, the company reported during its earnings call last week. Operating lease vehicles grew to $2.83 billion in the quarter, compared with $2.12 billion the prior year. By comparison, GM Financial — which Tesla is often compared to because of […]
  • Emma Sandler
  • August 7, 2017
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Regulations Drive EV Market, Residual Value Experts Say [Video]

State regulations — such as California’s requirement that manufacturers sell a certain percentage of zero emissions vehicles — are what’s driving electric vehicle sales today, rather than consumer demand, panelists said at the 2017 Auto Finance Risk & Compliance Summit last month.    “[EVs are] under 3% of the market in terms of manufactured automobiles and essentially regulations […]
  • William Hoffman
  • June 9, 2017
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Tesla Increases Leasing 74% YoY, Details Insurance Plan

Tesla Finance increased net operating lease vehicle originations to $3.13 billion for the full year 2016 up from $1.79 billion in 2015 — a 74% increase — the company reported in its fourth quarter earnings report. The report did not disclose the number of vehicles leased in the year or the quarter as previous filings […]
  • William Hoffman
  • February 24, 2017
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Syncing Paths: Where Traditional and Online Lending Meet

Not many companies offer a direct-to consumer product. You wouldn’t go to Crest store to get your toothpaste, a Yoplait store to get your yogurt, and a separate Kleenex store to get your tissues. No, you’d go to a grocery or convenience store and get all of those things in one place. For the majority […]
  • William Hoffman
  • February 14, 2017
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How Trump’s Border Tax Could Affect Auto Lenders

President Donald Trump continues to mull over the idea of a border tax — which if passed would place a new tax on nearly all imported goods, including cars — and the resulting vehicle price increases could push financing options to their limit, said Alan Baum, founder of West Bloomfield, Michigan-based Baum & Associates. The […]
  • William Hoffman
  • February 8, 2017
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Fair’s Georg Bauer Joins AFI for Fireside Chat

Auto Finance News is excited to announce that Georg Bauer, President of Fair.com, will participate in a fireside chat at the upcoming Auto Finance Innovation 2017 event. The conference will take place May 17-18 in San Diego, following the annual Auto Finance Risk & Compliance Summit. At AFI, Bauer will discuss the evolution of the automotive and […]
  • Larissa Padden
  • January 31, 2017
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