Electric vehicle maker Fisker unveiled a new digital financing platform, according to a press release on Friday (July 8th).
Under the name Fisker Finance, it will offer users seamless loan purchase options.
Fisker Finance will allow customers to apply for vehicle financing and receive “competitive, personalized” decisions. Car buyers will also be able to finance vehicle accessories such as home charging equipment and factory-installed features.
From there, they will be able to digitally access their account and make payments online, while receiving customer service.
The debut of the financial platform will coincide with the launch of the Fisker Ocean One, an all-electric five-passenger SUV, in November.
“Fisker is a digital car company, first and foremost, focused on a flawless user experience every step of the way.” Providing financing options on our digital platform, including financing factory-installed options, is part of giving our customers a completely worry-free experience while respecting their time,” says Fisker President and CEO Henrik Fisker. “We also aim to provide insurance on our digital platform as we designed and engineered the Fisker Ocean with affordable premiums in mind. The Fisker Ocean One will stand out with all of its unique standard options and features.”
Fisker also confirmed its nomination of retail finance partners Chase in the US and Santander in Europe.
See also: New car payments exceed $1,000 for 12% of buyers in the middle of the supply chain
PYMNTS recently wrote that monthly payments for new luxury cars are on the rise. Now, over 12% of buyers are financing a car with more than $1,000 in monthly payments. That is more with 7.3% compared to June last year.
This comes as automakers have started cutting back on cheaper vehicles in favor of expensive ones.
The higher prices apparently didn’t deter those looking for luxury cars. But sources say many others will find the new cars too expensive.