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Polestar Launches Financing, Guarantees Future Value

Polestar Australia is currently providing financing.

The electric car startup – owned by Chinese giant Geely and sharing its platform and technology with Volvo – will handle online financing, underwritten by Allied Credit, as part of the process purchase.

Along with direct vehicle financing, Polestar will offer guaranteed future value, meaning customers are sure of a minimum transaction price for their vehicle after the rental period.

When it comes to smaller brands or startups, the scheme offers buyers a degree of protection from poor resale value if the company doesn’t grow in Australia.

Hyundai’s emerging luxury car brand, Genesis, has quietly launched a program with guaranteed future valuewhile Spanish sports brand Cupra is planning launch with a in 2022.

Polestar has launched with a range of tools to make it easier for buyers to learn about a relatively obscure brand.

The company provides a seven-day return policy as long as the owner hasn’t done 500km north and warrants his car with five years of free maintenance to match the five-year warranty.

Auto dealers that typically sell other brands must also provide a cool-down period, but usually one to three days depending on the state and may lack a driver’s allowance.

Polestar sells its cars through an online portal and will operate Polestar Spaces nationwide; storefronts where potential owners can learn more about the brand. It also plans to use Volvo dealers for maintenance.

It currently offers three versions of Tesla Model 3-rivalling Polestar 2 in Australia.

The range will include standard and long-range single-engine variants, as well as a long-range dual-engine model.

With prices below $65,000 before on-road costs, the single-engine variants will fall below the $3000 discount threshold for electric vehicles in both New South Wales and Victoria.

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