IRVINE, Calif.–Origence has officially announced a lending partnership with Tesla—first reported by CUToday.info in November.
Origence said Tesla, the largest EV manufacturer in the world, is now offering credit union financing to EV buyers through the Tesla website.
“This partnership will provide Tesla buyers seeking affordable monthly payments with more options through credit union financing,” Origence said. “By making credit union financing available at the point of purchase, EV buyers will have easy access to competitive rates and extended financing terms—both important factors in providing consumers with options to lower their monthly payments.”
As Origence noted, consumers shopping for Tesla vehicles are provided financing options when reserving or purchasing a Model Y, Model 3, Model X, Model S, or Cybertruck vehicle through Tesla’s website or mobile app.
“The addition of credit union financing makes convenient point-of-sale financing available to millions of credit union members and consumers seeking low-rate financing options.” Origence said.
Origence said it is leveraging its newly licensed subsidiary, FI Connect, to purchase and place retail contracts with partner credit unions nationwide.
How Process Works
When a consumer finances their vehicle through FI Connect on the Tesla website, the contract will be purchased and serviced by a credit union, the company added.
“Tesla is making their cars more affordable for credit union members with price adjustments,” said Tony Boutelle, president and CEO of Origence. “With FI Connect and Tesla coming together, EV buyers can receive affordable financing through credit unions.”
For info: FIConnectLending.com.