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.
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Low Upfront Costs:
Financing an electric car—much less an entire fleet—often requires substantial upfront costs. Spring Free EV eliminates this barrier by offering commercial fleets a refundable security deposit instead of the traditional 10-20% down payment.
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No Mileage Cap
Spring Free EV is built for high-mileage fleets and allows businesses to drive as much as they need without worrying about extra charges.
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Access to the Latest EV Models
Spring Free EV offers a selection of high-quality new vehicles, including top-rated models like Teslas and Chevy Bolts. Businesses can now drive some of the best BEVs on the market without a significant upfront investment or long-term commitment. Plus, with telematics and driver-assistance upgrades, operating and maintaining an electric fleet has never been easier.
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Flexibility and Convenience
Spring Free EV offers a flexible subscription model that allows leases as short as one year. That's significantly shorter than traditional fleet leases. This provides convenience and adaptability for companies needing to adjust to real-time market changes and business needs.
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.
Tesla
Model 3
The Tesla Model 3 is a popular EV known for its impressive performance, cutting-edge technology, and sleek design. Within four seconds, the Model 3 can smoothly and quietly accelerate to 60 miles per hour. Model 3 has 330-mile ranges and is available in AWD or RWD. With its minimal and modern design, state-of-the-art technology, and exceptional safety features, the Model 3 is an excellent choice to optimize fleet operations.
Tesla
Model Y
The Model Y is a compact electric SUV that has become popular for its versatility, performance, and advanced technology. It takes the Model Y a mere 4.8 seconds to accelerate to 60 miles per hour. With a full battery, the Model Y can travel 300 miles, and just fifteen minutes of charge time at a Tesla SuperCharge station reboots its range to 175 miles. With a sleek design, spacious cabin, and generous cargo space, the Model Y is a perfect SUV for fleets needing slightly larger vehicles.
Chevy
Bolt
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.
Flexible and Affordable Pricing
Spring Free EV is committed to providing flexible and affordable pricing that makes operating EV fleets and sustainably meeting fleet needs 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 are able to return, renew, and purchase in as little time as one year.
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.
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 Financing Guide
What is EV fleet financing?
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.
What are the top factors to consider when selecting a fleet financing option?
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.
- 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. - 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. - 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. - Flexibility:
Look for flexibility in terms of repayment options. Some financing options offer flexibility in adjusting payments based on your business’s cash flow. - 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. - 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. - 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. - 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. - 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.
What are the top EV fleet financing tips?
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.
- 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. - 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. - 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. - 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. - 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. - 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. - 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. - 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. - 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. - 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.
EV Fleet Services Across Multiple US States:
Spring Free EV now serves several states across the US, offering businesses in diverse regions the opportunity to upgrade their fleets with our affordable EV leasing programs. Experience the same commitment to efficiency and sustainability, no matter where your business is located.