Tenet Energy and KeySavvy Partner to Provide Affordable EV Financing for Private Party Car Buyers & Sellers
June 24 2024 - 9:30AM
Business Wire
KeySavvy’s marketplace empowers consumers to
make the switch to EVs as built-in financing options through Tenet
enable more affordable EV loans for all Americans
Tenet Energy Inc. (“Tenet”), a climate financial technology
platform to accelerate America’s sustainable energy transition,
starting with electric vehicles, announced today that they have
partnered with KeySavvy, a transaction platform for buying and
selling private party vehicles, to embed fast and affordable
electric vehicle (EV) financing options for buyers as the used EV
market continues to grow.
Tax breaks, price drops, and more variety of EV inventory
available have sparked growing demand for the used EV market. As
new EV prices are typically 2x the cost of used EVs, the difference
is now more comparable to their gas counterparts than in previous
years, making the switch from gas to electric a more attainable
reality to the majority of Americans who are conscientious of their
footprint and wallet.
"Buyers often struggle to finance purchases from private sellers
despite nearly half of the used car market being private party,"
said Andrew Crowell, CEO of KeySavvy. "Potential titling issues
lead to cumbersome lending processes, higher interest rates, and
deter some lenders entirely. KeySavvy's platform solves these
problems by verifying the seller's ownership and transferring the
title to the buyer. By partnering with Tenet, we enable buyers to
fully capitalize on our secure platform and access competitive,
fast financing for EVs."
KeySavvy consumers utilize its transaction platform to securely
pay or get paid for gas and electric vehicles across the nation.
Through this partnership with Tenet, EV buyers will be able to
prequalify and secure financing within their KeySavvy buying
experience. These loans powered by Tenet originate within 24 hours,
as opposed to the average of 3-4 business days from a bank or
credit union.
“By teaming up, KeySavvy and Tenet are making it easier than
ever to buy and sell vehicles online with total confidence,” said
Christian Volker, Tenet’s Head of Originations. “With Tenet's
seamless renewable energy loan options and KeySavvy’s fraud-free
transaction platform, getting an EV just became a whole lot simpler
and safer. This collaboration means smoother, faster, and more
secure transactions for everyone.”
About Tenet
Tenet makes it easier than ever to finance renewable energy
products, starting with EVs. Through its innovative,
climate-friendly financial technology designed to accelerate the
mainstream adoption of sustainable energy, Tenet connects EV
drivers and fleet owners with better loan terms from
sustainability-focused financial institutions. In addition to EV
affordability, Tenet offers free software services to reduce
charging costs and share personalized carbon emissions impacts. For
more information, visit www.tenet.com. Join the conversation on X
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About KeySavvy
KeySavvy is a transaction platform that eliminates payment and
title fraud in private-party vehicle transactions and guides buyers
and sellers through a complex process with ease. For peer-to-peer
vehicle marketplaces, KeySavvy enables trusted, end-to-end
transactions that help partners deliver a superior experience to
their customers. Learn more at www.KeySavvy.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240624037803/en/
Media: Melissa Dayton Head of Marketing
melissa.dayton@tenet.com Tel: (+1) 757-285-8213
Investor: Bo Kane Director of Capital & Finance Strategy
bo.kane@tenet.com Tel: (+1) 336-745-5619