Auto Financing for Lotus Luxury Cars Grows

Lotus Cars and Santander Consumer joined forces to offer dealer financing programs in the U.S. for the automaker’s sports cars.

Santander Consumer will offer nationwide loan and lease options to Lotus customers and dealers through the exclusive multiyear agreement, according to Lotus Cars.

“We are thrilled to embark on this partnership with Santander Consumer to provide financing options to customers in one of our largest markets,” said Lotus Chief Financial Officer Ben Dodds in a statement. “Providing convenient options for our customers stays true to our brand promise to be ‘For the Drivers’, and we are excited to have them along with us on this journey as we deliver our new line-up.”

By teaming with Lotus, Santander Consumer expands its existing auto-financing partnership with Lotus in Europe.

“Our relationship with Lotus is a testament to our commitment to partnering with prestigious automotive companies, and providing superior experience for our dealers so they can offer financing to customers across the credit spectrum and drive sales,” said Betty Jotanovic, president of Auto Relationships at Santander Consumer.

The press release noted that North America is a key market for Lotus, which recently introduced its first electric hyper-GT Emeya in New York City. With over 44 stores in its retail network as of June 30, the company intends to almost double its presence by opening 80 stores by 2025.

Lotus Cars is also known for its flagship electric-vehicle model, the hyper-SUV Eletre. It said its luxury performance EVs are part of the company’s Vision80 strategy to become a global luxury technology brand by 2028.

Lotus is owned by China’s Geely, and its vehicles can sell for upwards of $100,000. Customer deliveries in the U.S. are scheduled to begin in the third quarter of 2024 for Eletre, and Emeya will be available in early 2025, Lotus Cars said.

Originally posted on Auto Dealer Today