Tenet provides an online financing platform for electric vehicles that offers the same competitive interest rates for new and used cars, with no hidden fees or dealer markups. Loans are approved and funded in 1–2 days, up to five times faster than traditional banks, and rate checks are credit‑soft. The service works for purchases from dealers or private sellers and includes budgeting tools to help buyers match financing to their budget.
Funding
$10M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
1ONPFounders
Product
Problem
Consumers seeking to purchase Tesla or other electric vehicles often face slow loan approvals, higher rates for used EVs, hidden dealer fees, and limited financing options that restrict where they can buy.
Solution
Tenet offers a streamlined financing platform that provides the same competitive rates for both new and used electric vehicles, eliminating traditional bank and dealer markups. Users can obtain loan offers in 1–2 days, up to five times faster than conventional lenders, with no impact on their credit score during rate checks. The service works for purchases from dealerships or private sellers, and includes tools for rate pre‑approval, budgeting, and loan calculation without hidden fees. By handling the entire loan process online, Tenet reduces paperwork and accelerates funding, enabling buyers to secure financing quickly and transparently.
Target Audience
Primary customers are individual consumers looking to purchase or lease a Tesla or other electric vehicle, whether through a dealership or a private sale, who value speed, transparency, and consistent financing terms.
Features
- Same interest rates for new and used EVs, removing price discrimination based on vehicle age
- No hidden fees or dealer markups; all costs are disclosed up front
- Rapid loan approval and funding within 1–2 business days
- Credit‑soft rate checks and pre‑approval tools that do not affect the applicant’s credit score
- Flexible use across dealer sales, private‑party transactions, and both new and used vehicles
- Online calculator and budgeting tools to match financing options to the buyer’s budget