EV Fleet Financing:

Unlock the potential for unprecedented growth with Spring Free EV's innovative fleet financing solution.

Tired of traditional banks posing limitations on the number of commercial fleet vehicles you can finance? Frustrated by the fact your dreams of expansion keep getting thwarted? Say goodbye to unnecessary restrictions and hello to seamless growth: Spring Free EV’s flexible fleet financing option empowers businesses of all sizes to scale their fleets with ease.

Spring Free EV’s low-down-payment financing option makes it easy for businesses to acquire entire fleets of vehicles and be out on the road in no time. But even more, with Spring Free EV, fleet owners have access to the latest models of electric vehicles, making it a sustainable and cost-effective decision. Outfit your fleet with Teslas, benefit the environment, and improve your bottom line—it’s a win-win-win.

Why Choose Spring Free EV for Your Fleet Financing?

Not only does Spring Free EV make scalability accessible for fleet managers, but we’ve also tailored our entire model to meet the needs of high-mileage commercial use. 

Let’s take a closer look.

Our EV Fleet Models

Spring Free EV offers business owners access to the latest EV models. With lower maintenance costs, lower fuel costs, and charging infrastructure improving every day, fleet managers will look good and save big.

Flexible and
Affordable Pricing

Spring Free EV is committed to providing flexible and affordable pricing that makes operating EV fleets and choosing sustainability accessible for businesses of all sizes.

To lease a Tesla, businesses pay a base rate that comes with 1,800 miles/month built in. To build beyond the base rate, leases have a pay-per-mile subscription model with no mileage caps. Cruise the town and get business done without worry of additional fees. Similarly, the base rate for the Chevrolet Bolt includes 2,000 miles/month built in, with a pay-per-mile subscription model beyond that.

With short, flexible lease terms, businesses can return, renew, and purchase in as little time as one year.

Spring Free EV:

Spring Free EV: A Different Approach to Fleet Financing

Spring Free EV offers electric vehicle leasing solutions with a unique focus on the needs of businesses, especially those that require high-mileage driving, making fleet electrification that much easier.

Focus on Commercial Use

Traditional leasing models are designed for personal use, with contracts stipulating limits on mileage and wear and tear that make them less than ideal for commercial use. Spring Free EV, however, structures its leasing terms to be more accommodating for businesses that need to use vehicles extensively.

High Mileage Driving

Traditional leases often come with mileage limits, and exceeding these can incur hefty additional costs. Spring Free EV offers a flat rate with no mileage caps, making it more suitable for delivery services, ride-sharing, and other high-mileage businesses.

Business Health Check

Traditional car leasing usually involves a credit check to assess the individual’s creditworthiness. Spring Free EV, however, conducts a business health check to determine the financial stability and profitability of a business as a whole. This is perfect for startups or those with unconventional financial profiles that might not pass a traditional credit check but are otherwise financially sound. Spring Free EV takes a holistic approach when assessing businesses and their finances.

EV Fleet Financing Guide

EV fleet financing is the practice of securing a loan in order to rent two or more electric vehicles for commercial purposes. By leasing company vehicles, businesses, government agencies, and other organizations reap the benefits of electric vehicles without fully committing to purchasing them. This allows organizations of all types to save money, remain flexible, and adapt to ever-changing business needs.

Not all fleet financing options are created equal. That’s why choosing the right lessor and partner makes such a difference. Here are some top factors to consider when selecting a fleet financing option.

  1. Loan Terms: The most fundamental consideration is the length of the loan term. You want a loan that will work for you, not against you. Longer terms may result in lower monthly payments but could lead to higher overall interest payments. Shorter terms may have higher monthly payments but lower overall costs and allow for greater flexibility when scaling up or down. Think through your business needs and growth strategies to see what loan term length will work best for you.

  2. Down Payment Requirements: Evaluate the down payment requirements of each lease option. Some financing options, like Spring Free EV, may offer zero-down or low-down payment solutions, allowing you to allocate your working capital to other, more critical aspects of your business.

  3. Credit Requirements: Understand the credit requirements of the financing option. Traditional loans conduct a credit check to see whether you and your business qualify for a loan. Your credit history and the creditworthiness of your business can affect the interest rates and terms offered. Spring Free EV, on the other hand, conducts a holistic business health check to determine whether a business can receive a loan.

  4. Flexibility: Look for flexibility in terms of repayment options. Some financing options offer flexibility in adjusting payments based on your business’s cash flow.

  5. Collateral Requirements: Determine if the financing option requires collateral. Collateral can be in the form of assets, and understanding these requirements is important for assessing the risk involved.

  6. Vehicle Eligibility: Ensure that the financing option covers the types of vehicles you need for your business. Some lenders may have restrictions on the types or age of vehicles they will finance. Spring Free EV, for instance, only offers electric vehicles in its mission to reduce emissions.

  7. Vendor Relationships: Explore whether the financing provider has established relationships with specific vehicle vendors. Some providers may offer better terms or incentives when financing vehicles from certain dealerships.

  8. Hidden Costs: Be aware of any hidden costs, such as prepayment penalties or fees for early termination of the financing agreement. Understanding the entire cost structure is essential for accurate budgeting.

  9. Customer Support: Consider the level of customer support provided by the financing provider. Having responsive and helpful support can be valuable, especially if issues arise during the financing period.

  10. Industry Expertise: Choose a financing option or provider that understands the specific needs and challenges of your industry. Industry expertise can lead to more tailored and suitable financing solutions.

Now that we’ve looked at all the factors to consider when looking at financing options let’s dive into our tried-and-true financing tips for electric vehicles.

  1. Financial Planning: This feels like a no brainer, but it is so key: Our first tip is to develop a comprehensive financial plan that outlines your budget, cash flow projections, and the total cost of ownership for your fleet. This will help you make informed decisions about financing options.

  2. Creditworthiness: Maintain a strong credit profile. Even with Spring Free EV’s business health check, a good credit history leads to more favorable financing terms and lower interest rates. Regularly review your credit report and address any issues impacting your creditworthiness.

  3. Research Financing Options: Explore various financing options, including traditional bank loans, lease agreements, and specialized fleet financing providers like Spring Free EV. Compare interest rates, terms, and conditions to find the best fit for your business.

  4. Understand Total Cost of Ownership: Consider the total cost of ownership beyond the financing terms. This includes maintenance costs, fuel costs, insurance, and potential resale value. Understanding these costs helps you make more informed decisions about the financing duration and type.

  5. Flexible Financing Terms: Seek financing options with flexible terms that align with your business’s cash flow. Consider whether longer or shorter loan terms suit your financial strategy and objectives better.

  6. Consider Resale Values: If you plan to replace vehicles regularly, consider the resale values of the vehicles you are financing. Vehicles with higher resale values can positively impact your overall cost of ownership.

  7. Down Payment Strategies: Evaluate down payment options. While a lower down payment can preserve cash flow, a larger down payment may lead to lower monthly payments and overall interest costs.

  8. Stay Informed About Tax Credits: Keep yourself informed about any tax credits, rebates, or deductions related to fleet financing. Depending on your location and the type of vehicle (especially if they are electric), there may be tax benefits that can positively impact your finances.

  9. Maintenance and Compliance: Factor in maintenance costs and ensure that your fleet is compliant with regulations. Well-maintained vehicles are likely to have lower operational costs and retain better value.

  10. Consider Green Fleet Options: Explore environmentally friendly options, such as electric or hybrid vehicles. In many regions, incentives or financing options are specifically designed for green fleets.

Join Our Mission to Reduce Climate Change

With Spring Free EV, small businesses can confidently navigate the road to success, embracing the future of mobility without compromising their bottom line. Drive your business forward, with renewable energy and zero emissions, with Spring Free EV’s fleet financing – because your growth should know no limits.

Contact us today to explore our flexible financing options tailored to your business needs. Let’s drive change together and pave the way for a cleaner, greener future!

EV Fleet Leasing Guide

What is EV fleet leasing?

EV fleet leasing is the practice of renting two or more electric vehicles for commercial purposes. By leasing company vehicles, businesses, government agencies, and other organizations reap the benefits of electric vehicles without fully committing to purchasing them. This allows organizations of all types to save money, remain flexible, and adapt to ever-changing business needs.

What are the top factors to consider when selecting a fleet leasing option?

Not all fleet leasing options are created equal. That’s why choosing the right lessor and partner makes such a difference. Here are some top factors to consider when selecting a fleet lease.

  1. Vehicle Type and Specifications:
    • The vehicles offered by the lessor are one of the first factors to consider. Consider the types of vehicles that best suit your operational needs, whether sedans, trucks, vans, or electric vehicles.
    • Beyond vehicle type, consider the specifications and features your fleet will need. Do your cars need significant cargo space or be incredibly fuel efficient? What safety features and technology would you ideally like to have in each vehicle?
  2. Leasing Terms and Conditions:
    • The next most significant piece to consider is the lease’s fine print. Comb through the leasing terms, including the duration of the lease, mileage restrictions, and any penalties for exceeding the allotted mileage. Some lease terms (like Spring Free EV’s) are designed for high-mileage usage and therefore have no mileage caps.
    • Understand the terms of the lease agreement, including responsibilities for maintenance, repairs, and insurance. Some of the best leases include maintenance and repair built into them.
  3. Costs and Budgeting:
    • Of course, consider your budget. You need a lease that will help you keep your costs low and your profits high. Analyze the overall costs associated with the leasing option, including monthly lease payments, insurance, maintenance, and potential fees.
    • Leasing is often much simpler and more cost effective than purchasing the vehicle outright. But make sure to check. Compare the total cost of ownership for leasing versus purchasing to determine the best option for your organization.
  4. Fuel Efficiency and Environmental Impact:
    • More and more consumers and businesses are becoming eco-conscious and looking for ways to reduce their carbon footprint. Choosing electric vehicles for your company cars is one of the best ways to make your fleet sustainable. And with Spring Free EV, electrifying your fleet has never been easier.
    • Don’t forget to look into government incentives and tax breaks for choosing eco-friendly options. You might be surprised by how well an EV can save money, benefit the environment, and meet your business needs.
  5. Maintenance and Support Services:
    • Make sure the lease spells out a plan for maintenance and support services. Determine whether routine maintenance, repairs, and roadside assistance are included in the leasing agreement.
    • Before signing a lease, make sure you fully understand the process for addressing maintenance issues and how quickly repairs can be made.
  6. Flexibility and Upgradability:
    • Business needs change. And whether that means you need to add five more cars, upgrade to the latest models, or scale down a bit, you want the freedom to do so. Assess the flexibility of the leasing arrangement and make sure it works for you.
  7. Insurance Coverage:
    • Insurance is a huge piece of the puzzle when working in fleet management. Make sure you fully understand the insurance coverage provided by the leasing company and whether it meets your organization’s requirements.
    • Some lessors will not provide insurance. If that is the case, make sure you know the best options for fleet insurance and how to get it.
  8. Resale Value and Depreciation:
    • With all leases, there is an end to the deal. Make sure you understand how the lessor will handle resale value and depreciation, especially if you are interested in purchasing the vehicle at the end of the lease.
    • Make sure to think ahead. Consider how depreciation factors into the overall cost of the leasing option and whether it aligns with your organization’s financial goals.
  9. Reputation of Leasing Provider:
    • One of the most significant factors is who you will choose as your leasing provider. Research and consider the reputation and reliability of the leasing provider. Your lessor will hopefully become a trusted business partner. So, make sure to look for customer reviews, testimonials, and references to make sure you choose the right fit.
  10. Regulatory Compliance:
    • You want to be above board in all your business dealings. Ensure that the leasing arrangement complies with relevant regulations regarding vehicle safety standards and financial regulations.

What are the top EV fleet leasing tips?

Now that we’ve looked at all the factors to consider when looking at leases let’s dive into our tried-and-true leasing tips for electric vehicles.

  1. Understand Charging Infrastructure:
    One of the big differences in leasing EV’s is that you need the right equipment. And while the infrastructure for charging electric vehicles is growing rapidly, it’s still critical to ensure your drivers have access to charging stations when and where they need them. Talk with your lease providers about the vehicles’ charging needs and what types of chargers (level 1, level 2, DC fast chargers, Tesla superchargers) are available in your area.
  2. Range Consideration:
    Similarly, understanding the driving range of each vehicle, especially if used for high-mileage commercial needs, is critical. Learning the capabilities of each vehicle and how to plan routes to minimize downtime properly is essential to establishing a successful fleet of electric vehicles.
  3. Training for Drivers:
    It’s no secret that EV’s require a bit of a learning curve. Whether it’s learning how to charge the battery, monitor range, or utilize better sustainable driving practices, drivers need to be properly trained on using electric vehicles. Regularly invest in workshops, trainings, and seminars to increase driver knowledge and their safety.
  4. Consider the Total Cost of Ownership:
    One of the most significant benefits of EVs is their overall cost-savings. When looking at finances, conduct a comprehensive analysis of the total cost of ownership that accounts for the lease payments, charging costs, maintenance savings, and potential incentives. Many companies find that by switching to EV’s, they save 60% on maintenance costs alone.
  5. Plan for Future Technological Advancements:
    Rapid advancements in EV technology are taking place every day. Make sure your lease terms account for this and allow you to upgrade to newer models with improved features and longer ranges. Build in time to regularly check in on EV advancements to see if it’s time for an upgrade.

By considering and implementing these tips, you will be able to navigate the unique aspects of leasing electric vehicles for your fleet. Contact Spring Free EV today to see how we can help scale and electrify your fleet with ease.

  • What is EV fleet leasing
  • What are the top factors to consider when selecting a fleet leasing option?
  • 1. Vehicle Type and Specifications
  • 2. Leasing Terms and Conditions
  • 3. Costs and Budgeting
  • 4. Fuel Efficiency and Environmental Impact
  • 5. Maintenance and Support Services
  • 6. Flexibility and Upgradability
  • 7. Insurance Coverage
  • 8. Resale Value and Depreciation
  • 9. Reputation of Leasing Provider
  • 10. Regulatory Compliance
  • What are the top EV fleet leasing tips?
  • 1. Understand Charging Infrastructure
  • 2. Range Consideration
  • 3. Training for Drivers
  • 4. Consider the Total Cost of Ownership
  • 5. Plan for Future Technological Advancements