Xcelerate Auto Unveils Interest-Free Payment Plan for XCare EV Protection, Making Extended Warranty Coverage More Accessible
Xcelerate Auto, a leader in electric vehicle (EV) leasing, financing, and warranty services based in Texas, has introduced a new payment option for its flagship XCare EV Protection plan. This strategic move comes through an exclusive partnership with Service Payment Plan (SPP), providing customers the option to purchase XCare EV Protection with a flexible, interest-free payment plan. Unlike traditional financing options, this plan requires no credit check and is paired with upfront, transparent online pricing. The new option is set to make extended warranties more accessible, particularly as used EVs continue to become more affordable, lowering the barriers to comprehensive protection for a wider range of EV buyers.
Through this innovative payment plan, XCare EV Protection can now be purchased with a down payment of just 20%, followed by 11 additional monthly payments. This structure enables buyers to secure comprehensive coverage for essential EV components without a hefty upfront cost. The components covered include high-voltage (HV) batteries and drive units, both of which are known for their high replacement costs. With HV batteries costing an average of around $17,000 and drive units roughly $6,000, repair expenses can be a significant deterrent to potential EV buyers. Xcelerate’s new plan alleviates this financial barrier by providing a low-cost entry point for EV protection, allowing customers to obtain peace of mind about potential repairs without straining their finances.
XCare EV Protection is specifically tailored to address the needs of EV owners, covering components critical to the performance and longevity of their vehicles. Electric vehicles, though requiring less frequent servicing compared to traditional combustion engine cars, still face high repair costs for certain parts. The high-voltage battery and drive units are among the most expensive components to replace, and unexpected failures can result in significant out-of-pocket expenses for owners. The average claim under the XCare EV Protection plan exceeds $1,200 per occurrence, underscoring the value of having a comprehensive warranty for the high-cost items unique to EVs.
“At Xcelerate, our mission has always been to lower the barriers to EV ownership, and this new payment plan for XCare EV Protection directly supports that goal,” said KJ Gimbel, CEO of Xcelerate Auto. “We’ve recognized that the growing market of used EV buyers needs affordable, accessible warranty solutions. Our partnership with SPP has allowed us to craft a payment structure that not only makes EV ownership more attainable but also provides an added layer of financial security. With this offering, more EV owners can enjoy the peace of mind that comes with knowing their vehicle is protected.”
This partnership also underscores Xcelerate’s commitment to creating customer-centric solutions that make EV ownership a more feasible option for a broader audience. Used EVs are an increasingly popular choice as prices fall, but concerns over potential repair costs can make some buyers hesitant. By offering a payment plan that requires only 20% down with no interest and no credit check, Xcelerate removes these financial barriers, positioning XCare EV Protection as an affordable option for extended coverage.
The partnership with SPP has allowed Xcelerate to extend this coverage with a focus on accessibility and transparency, two qualities that are especially important as the EV market grows. SPP’s President, Charlie Hymen, commented on the collaboration, stating, “It’s an honor to support Xcelerate’s mission to bring this valuable protection to EV owners everywhere. Xcelerate’s commitment to improving the customer experience at every turn has been remarkable, and we’re excited to be part of their journey as they expand accessibility to comprehensive EV warranties.”
In addition to making coverage more accessible, the XCare EV Protection plan includes a range of features designed specifically for the needs of EV owners. The coverage is carefully tailored to address the high-value components unique to electric vehicles, focusing on longevity and performance. The inclusion of high-cost components in the warranty plan gives customers additional security and makes EV ownership more attractive to a broader audience. For many consumers, having a payment plan that doesn’t involve interest or credit checks removes a significant hurdle, enabling more people to consider the benefits of a used EV with confidence.
This initiative aligns with the industry-wide push to make electric vehicles more accessible, affordable, and sustainable. As Xcelerate expands its offerings, it is also contributing to a more sustainable automotive landscape by encouraging the adoption of used EVs, which have a smaller carbon footprint than new vehicle production. The broader availability of comprehensive EV protection plans could also help drive the resale value of EVs, further incentivizing people to opt for sustainable vehicles.
Xcelerate’s new payment option through SPP for the XCare EV Protection plan is a pivotal step toward making electric vehicles a viable choice for a larger segment of consumers. With EV technology evolving rapidly, the company’s mission to ease the ownership experience with accessible warranties is a forward-thinking approach that supports both consumer interests and sustainability goals.
Through this interest-free, flexible payment plan, Xcelerate Auto aims to make EV ownership not just a premium choice, but an accessible one for all, ensuring that comprehensive coverage and peace of mind are within reach for every EV owner.
