Xcelerate Auto, a Texas-based provider of electric vehicle leasing, financing and warranty solutions, has introduced a new payment option for its XCare EV Protection plan. Through an exclusive partnership with Service Payment Plan (SPP), Xcelerate now enables customers to purchase XCare EV Protection with a convenient, interest-free payment plan, requiring no credit check and featuring transparent online pricing.
As used EVs become more affordable, Xcelerate’s new payment plan option makes it easier for buyers to secure affordable extended warranties. With only 20% down and 11 additional monthly payments, customers can enjoy comprehensive coverage for crucial EV components — including high-voltage batteries and drive units — without the burden of a large upfront cost.
High repair costs for these components, including HV batteries (around $17,000) and drive units (around $6,000), often deter potential buyers of used EVs. This new payment structure offers a low-cost entry point, providing peace of mind and making EV ownership more attainable for a broader audience.
XCare EV Protection covers essential components that are both costly and critical to EV longevity, with the average claim exceeding $1,200 per occurrence. While EVs require less frequent service than traditional combustion engine vehicles, Xcelerate’s solution addresses concerns over unexpected repair costs, ensuring EV owners remain protected on the road.
“At Xcelerate, our mission has always been to lower the barriers to EV ownership,” says K.J. Gimbel, CEO of Xcelerate Auto. “This new payment plan for XCare EV Protection aligns with our goal of providing accessible, affordable warranty solutions for a growing market of used EV buyers. Through our partnership with SPP, we’ve crafted an offering that removes financial barriers, giving more EV owners the peace of mind that comes with comprehensive coverage.”