Santa Monica-based electric car maker CODA Automotive has signed a preliminary agreement to provide financing for customers of the 2011 CODA Electric Sedan with Essex Credit Corporation, a subsidiary of Bank of the West.
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.
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. These locations will focus on consumer education and test drives, while electric vehicles will be delivered directly to consumers, the company said
“CODA’s sales process eliminates the hassle most consumers have come to expect when buying a car,” said Mac Heller, CEO, CODA Automotive. “In partnership with Essex, we will provide a simple process for our customers to identify, apply and qualify for competitive financing options in seconds.”
“Essex Credit will enable CODA buyers to acquire an innovative vehicle in a truly seamless, efficient customer-centric process,” said Jesse Bragg, President and CEO, Essex Credit Corporation. “Our ‘green’ online application process is an appropriate match for this all-electric car.”