The first Tesla car, the Model S, has been on sale in Australia since December and sold out on day one.
The Model S is the first Tesla vehicle to sell in Australia and the first to be fully financed.
“The second hand car market is growing and is expected to reach $12.4 billion by 2020,” says Tesla Australia managing director Ian McLeod.
Tesla has also launched a secondhand car loan service in New South Wales and Victoria.
A secondhand loan is a loan to buy a second-hand vehicle from a third party, where the car will be sold.
In Australia, secondhand cars are still largely bought by people looking to sell the car, but the car loan company, Tesla Direct, is now offering a second hand sale for people who are looking to use the car as a second home.
McLeod says the secondhand lending service will be available in Queensland, New South England, Victoria and South Australia, with the first deliveries in Western Australia, Western Australia and Tasmania to be made next year.
While the second hand lending service is an innovative idea, McLeod says Tesla Direct is focused on providing a secure and low-cost solution to both first and second hand buyers.
This is where Tesla Direct has partnered with Australian bank First Home Finance to offer the first and last minute financing on a Tesla vehicle loan, which allows customers to take home the car without having to worry about repossessions, car repairs or other major issues.
For the first time, a second buyer can get a first-hand loan on a second lease car without repossession, car repair or other issues.
The second loan will not only allow a second car buyer to own a second vehicle, but also make payments for any additional payments on the vehicle lease.
First Home Finance managing director, Mark McQuigley, says second-home buyers can benefit from Tesla Direct’s low cost of finance.
He says the company is offering a lower cost of entry and a secure second lease option.
“We believe that there are many consumers who are interested in leasing cars in Australia, and we believe that this program is an important part of that,” McQuagley said.
“First Home Financing has long supported Tesla Direct to offer a low cost first lease option for its customers, and this program will allow us to do just that.”
McQuagiells new initiative to offer second lease options to second home buyers is part of a broader initiative to make second-life home ownership affordable and convenient.
Third-party car loans are still the most popular way for Australians to buy second hand cars and there is a growing demand for third party car loans as demand for electric vehicles continues to increase.
Australia’s first electric car loaner, New Zealand’s National Grid, has also started offering third party loans on their loan products.
Currently, car loan lenders offer loans to consumers who need a car, vehicle lease or to buy another vehicle in a second or third-hand market.
Second-hand car lenders such as Tesla Direct are now offering their products to Australian consumers.
Australian car loan provider, Tesla Australia has a team of experienced third-party loan professionals who have extensive experience of both second and third hand car lending.
According to Tesla Australia, the second loan loan service provides a quick, secure, low-interest loan that will allow a consumer to purchase a second, third or fourth hand car.
Second car loan rates are available from TeslaDirect.com or through their app.
Contact: James Stewart, Tesla, 08 598 788 or James.
For more information about second hand vehicles, check out: