Tenet launches financing platform to drive EV adoption
Tenet is a climate-focused fintech startup based in the USA.
Tenet’s aim is to build financial technology for a climate-positive world.
The Tenet EV Loan
In June 2022, Tenet announced an electric vehicle loan. The purpose is to accelerate the adoption of EVs, allowing customers to finance or re-finance their existing EV loan at affordable rates.
Here is what is different in Tenet’s model: it doesn’t use standard car depreciation models. Electric Vehicles are valued as “clean collateral” and they are taken into account with a long-term value.
The residual value of an electric vehicle is thus much better than gasoline-powered cars’, and Tenet can offer more competitive interest rates.
Tenet dashboard allows customers to monitor their electric vehicle performance, from carbon dioxide emissions to total mileage. The app version also lets you easily check the status of the car's battery. All this data can be used to maximize the vehicle's value.
The app also provides standard functionalities, like managing and updating payment settings.
Tenet’s green loan offering
Tenet is planning to expand its offering to help consumers align their financial decisions with their sustainable goals.
The next step should be a zero-emission home upgrade loan.