Aptera Finance Arm?

Aptera Community Aptera Discussions Aptera Finance Arm?

Aptera Community Aptera Discussions Aptera Finance Arm?

  • Aptera Finance Arm?

  • Michael Jordan

    Member
    April 19, 2022 at 5:17 pm

    I was just working through explaining to my credit union that I want a loan for an Aptera. That mental discussion didn’t go well. Has Aptera thought of forming or partnering with a group to finance Aptera purchases? I would guess that most people interested in an Aptera have higher credit ratings and more stable finances than the Hyundai buyers famously discussed on VinWiki.

  • John Malcom

    Member
    April 20, 2022 at 7:01 am

    Wish I could have been a fly on the wall😊

    At one time it was mentioned that Aptera would have some arrangement to assist with financing. That was a long time ago so don’t know if it is still in the plan. Aptera is not capitalized to do it themselves. If you are a member of USAA they will give a new car loan for an Aptera.

    • Michael Jordan

      Member
      April 20, 2022 at 8:53 am

      My strong suspicion is that my local credit unions will treat an Aptera loan like a loan for a used car. Since there is not any resale data for the value of a used Aptera (obviously), they will treat it like a loan for a used car or mobile home, 50%+ down required.

      • Jonah Jorgenson

        Member
        April 20, 2022 at 10:22 am

        Wow! 50% down, that is a shock. I think an online bank would do better for you. You might think about contacting Ally Financial.

    • Steven G. Bueche

      Member
      April 21, 2022 at 12:07 pm

      Hi John. As a USAA member, this really surprised me. I’ll have to call them and ask for myself. Good information to know for sure. They are pretty fair on car loans although their quote for houses was almost double what I currently paid with State Farm. I’ll see what they say.

      • John Malcom

        Member
        April 21, 2022 at 12:16 pm

        Thanks for your service Steven. They treat their members very well as you know. The rates just went up for both new and used car loans. They Won’t get serious until we can provide a VIN. That won’t happen until after gov testing.

  • Bob Kirchner

    Member
    April 20, 2022 at 7:17 am

    Just wait ’til you talk to your insurance company!

    • Joshua Rosen

      Member
      April 20, 2022 at 7:29 am

      Insurance is an important reason for them to get the car through crash testing as soon as they can. If it gets an IIHS+ rating then I don’t think it will be anymore expensive to insure than any other EV. However without the crash testing it will be insured as a motorcycle.

      • Jonah Jorgenson

        Member
        April 20, 2022 at 10:25 am

        Agreed. My Model 3 insurance is expensive. The reason given me is the cost to repair. Not sure how an insurance company will handle right to repair. Probably with a premium since there will be no consistent data (Average etc.) for repair costs for different defects or body work.

        • Joshua Rosen

          Member
          April 21, 2022 at 6:50 am

          The insurance costs for my Model 3 are fine, barely more than I was paying before. I have Allstate.

  • seth feldman

    Member
    April 20, 2022 at 8:21 pm

    I suspect personal loans or motorcycle financing/insurance will be the easiest way to go since they technically aren’t a car. personal loans have the benefit of not requiring full coverage insurance. Although with all of the fancy screens etc I’ll probably opt for full coverage myself.

  • Konijnerd the Great

    Member
    April 21, 2022 at 5:22 am

    I for sure cannot afford the amount for a full Aptera, so I do hope financing offers will be made available, also in Europe.

  • Thomas Benel

    Member
    April 24, 2022 at 4:58 am

    I will be following this thread. Not many people can drop the cost for an Aptera in one payment. Financing options will be key.

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