Challenge
SacTesla built their reputation as Sacremento’s place for pristine Teslas for both personal and corporate rental use. With clients using their vehicles for everything from photoshoots to meaningful test rides, SacTesla earned its notoriety as the executive’s go-to for luxury electric vehicles.
Facing maxed out utilization across its fleet in late 2022, SacTesla needed to grow—and needed a creative way to extend their capital to get new cars in the door fast. Stymied by Tesla’s months-long waitlists and high sticker prices for outright purchases, owner Jerome Mends-Cole II started to search for alternative methods of building out his fleet.
Approach
Through his network, Jerome found Spring Free EV’s unique subscription program that allowed SacTesla to add vehicles with ease. Spring Free’s distinctive subscription program afforded SacTesla the ability to add vehicles without large expenditures, essentially letting rental fees cover the entire monthly costs of the vehicle. Additionally, these costs were capped, and predictable—but without restricting the number of miles driven. This dramatically opened the window for profits as vehicle utilization increased. The numbers made sense, so next Jerome turned to see what the experience of leasing the vehicles through Spring Free EV would be like. Working with his dedicated account manager Sara, Jerome ran a trial, leasing one Tesla Model 3 to start.
Results
Through his trial, Jerome not only found a more cost effective way to expand his fleet, he also found a partner who was deeply connected to the specific needs of a fleet manager.
“We’re all about electric vehicles. So finding a partner like Spring Free EV whose focus is on enabling fleet managers to provide EV options, we really saw a partner. We really liked that. When we looked at the CEO, we saw that Sunil comes from our community already and understands the rental business, the B2B business, and the P2P business. We really liked that experience as well. We found the platform to be intuitive and Spring Free’s value proposition focused on the hard business of finances as opposed to soft personal guarantees. After we completed our due diligence, we saw ourselves aligning with Spring Free as a real partner from now and in the future.”
Within two weeks, Jerome deemed his trial experience a success and decided to cement the partnership. Together with his account manager, Sara, SacTesla and Spring Free EV worked out a plan to nearly double his Tesla fleet in 2023.
Benefits
EASY ECONOMICS
Spring Free EV’s model was specifically built for higher mileage businesses so there aren’t any steep overage penalties. And costs are capped so fleet managers can rest easy knowing costs are predictable.
FOCUS ON FLEET MANAGERS
Spring Free EV’s focus on fleet managers creates a basis for a real partnership that knows and truly supports car rental businesses specifically.
FUTURE OPPORTUNITIES
While SacTesla currently focuses only on Tesla’s, demand is growing for additional luxury vehicle types, and Spring Free EV will be able to help when they are ready.
About SacTesla
SacTesla is a Sacramento-based company that provides the best electric vehicles on the market today for both personal and business rental use, marketing, and corporate events.
