Coda, Credit Company Team to Provide Financing for Customers of 2011 Sedan EV
By Scott Doggett November 24, 2010
Coda Automotive, the Santa Monica, Calif., electric-car and battery startup, and Essex Credit Corp., a subsidiary of Bank of the West, have reached a preliminary agreement to provide financing for customers of the 2011 Coda Sedan battery-electric vehicle.
Right, the Coda Sedan BEV looks good at the beach, but the manufacturer-suppplied photo begs the question, "Where are the surfboards going to go?"
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"Coda's sales process eliminates the hassle most consumers have come to expect when buying a car," Coda CEO Mac Heller said in a statement. "In partnership with Essex, we will provide a simple process for our customers to identify, apply and qualify for competitive financing options in seconds."
That's a good thing, because with a $44,900 starting price (before any applicable federal and local incentives), presumably most prospective buyers of the 5-passenger, roughly-120-miles-between-charges electric sedan will seek financing.
Customers who purchase an all-electric vehicle from Coda will have the option of applying for credit from their financial institution of choice or directly on the Coda website via an Essex portal. That portal was not live at the time this blog was posted.
At Coda's retail locations, customers will be able to apply for credit at kiosks on their own or with the help of a Coda associate, the company said, adding that these locations will focus on consumer education and test drives, while vehicles will be delivered directly to consumers.
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