DIMO x Tenet
Tenet is a pioneer in the EV financing industry and the first app ecosystem partner to offer DIMO users savings and additional rewards.
- Save Money Monthly. Users see average payment reductions of $200+/month compared to traditional vehicle financing. How? Tenet offers financing built for EVs, unlocking your vehicles superior residual value.
- Earn More Testnet Points! - Users who convert with Tenet will earn 50,000 testnet points - the equivalent of ~4-5 weeks of EV driving data.
- White Glove Experience. We're rolling out the red-carpet for our alpha test users so that we can walk you through the process and ensure you have a good experience. Book a time here with the DIMO team.
DIMO is dedicated to introducing our users to new and innovative ways to enhance their vehicle ownership experience. This includes strategically partnering with companies who offer our users the opportunity to utilize their vehicle data in order to save money.
Tenet is a financing platform who's mission is to make climate investment a no-brainer (read more here). By taking advantage of the strong resale value of EVs, Tenet will allow DIMO users the option to finance/refinance their EV with a drastically lower monthly payment compared to traditional automotive financing methods.
- Low Monthly Payments: Payment reductions of upwards of $200 / month. Tenet acknowledges the EV’s unique vehicle and battery depreciation profile by offering a deferred payment loan which reduces monthly payments. Drivers can lock in low monthly payments without any down payment and later use Federal and State tax credits to pay down their deferred payment.
- Easy Application & Process: Applications take less than 5 minutes. Customers automatically see their loan offers after entering basic personal and vehicle information.
- DIMO Rewards: DIMO users who successfully finance with Tenet will earn 50,000 testnet points for themselves. As a part of the agreement with Tenet, $200 for each user who converts will be paid to the DIMO treasury and distributed to users wallets upon DIMO network launch.
- Q: Who does Tenet make the most sense for?
- A: Tenet offers the most value to:
- EV owners who have rates above 4.5% EV owners who would like to reduce their monthly payment via deferring a part of their remaining principal.
- New purchase EV owners who have deliveries coming in the next 30 days. Increased industry-wide interest rates make Tenet one of the only ways to ensure a lower monthly payment on new vehicles.
- Q: Which makes and models are eligible?
- A: Any battery electric or plug in hybrid vehicle sold in the USA can be financed or refinanced with Tenet.
- Q: In which States does Tenet currently operate?
- A: As of July 2022, Tenet currently operates in the following States: AK, AZ, AR, CA, CO, CT, DC, FL, GA, HI, IL, IA, KS, KY, ME, MA, MO, NE, NM, NY, NC, OK, OR, SC, TN, TX, UT, VA, SC, WI, WY. We are continually expanding our presence so please check back on a monthly basis. We hope to be nationwide by the end of 2022.
- Q: What information do I need to apply?
- A: Applicants only need their VIN and basic personal information (Full name, address, DOB, income) to apply. Tenet, with the individual’s consent, will perform a soft credit inquiry. Apply at tenet.com.
- Q: Will applying impact my credit?
- A: Checking your offers will not impact your credit score. Tenet will conduct a soft credit check with your permission to see if you pre-qualify, this will not be reflected on your credit report. Selecting the offer that you want and completing the credit application will result in a hard credit inquiry, which will be posted to your consumer credit report and may impact your credit score.
- Q: How does Tenet protect my data and privacy?
- A: Tenet has strong security practices and a culture of protecting user data and privacy. Tenet encrypts all data in transit and storage. Tenet’s customer DB is not accessible from the public internet. All 3rd party software is SOC I and SOC II compliant. Tenet will never share your information with third parties. Tenet will not receive any of your driving data as a part of this integration.
- Q: Does Tenet finance fleets?
- A: Yes. Tenet can finance up to 6 vehicles per customer, and all loans must go on a customer's personal credit. The vehicles can still be titled to either the consumer or their business. Beyond 4 vehicles, fleet earnings must be submitted to verify eligibility.