Tesla has announced that it is offering guaranteed second-hands to all customers of its electric car and truck brands in Hawaii.
The deal comes as the state prepares to roll out its electric-vehicle charging infrastructure and as the automaker looks to become the world’s biggest vehicle manufacturer.
The company says the new offer will cover all of the car and trucks sold by Tesla.
The offer is in addition to the offer it has made to customers in California.
Tesla says it will be announcing more details on its second-home buying program later this week.
The Hawaiian offer comes after Tesla launched its first-ever guaranteed secondhand car deal in California last year.
Tesla’s offer is part of a $50 million loan for the purchase of the company’s next generation of electric vehicles, which will be sold in California through 2021.
The California deal, which has not yet been announced, will help Tesla secure funding for a second car project, Tesla said.
The new guaranteed second hands offer was announced on Friday by Tesla CEO Elon Musk.
Tesla announced the guarantee at the Tesla Summit in Las Vegas, Nevada.
Electric-car buyers in the United States, Canada, and Europe will be eligible for the guarantee if they purchase a Tesla Model S sedan or Model X SUV.
Tesla will also be offering a guaranteed second car loan in the event of a California home loan.
Tesla has yet to reveal the prices of its guaranteed second home loans.
Tesla’s second-guessing California policy comes after California Gov.
Gavin Newsom (D) last year announced a second-chance policy for the state’s second homes.
Under Newsom’s policy, first-time homebuyers who purchase their first home through a second mortgage can borrow against the sale price of their first house.
The policy allows those who buy their first homes through a first mortgage to refinance it at a lower rate than the original loan amount, as long as the new home is at least 100 percent financed by the new lender.
The Governor’s policy has been criticized by some Democrats as a costly giveaway to banks, but has also sparked debate about the extent to which the policy should be extended to Tesla’s second home buyers.
The state of California currently offers a guaranteed $1,000 loan to homebuyer for a car loan.
California is the first state to offer a guaranteed loan for second homes, which the company is now looking to expand to all states.