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ZAP Offers Full-Service Financing for Electric Vehicle and Car Purchases

September 4, 2007

SANTA ROSA, Calif. — Electric car pioneer ZAP has partnered with netLoan Funding, LLC to provide ZAP customers with one-stop Internet financing for electric vehicle and electric car purchases. netLoan Funding provides lender management services and a diversity of loan and lease options for online or point-of-sale purchases of almost any asset.

Although ZAP has already sold over 100,000 electric vehicles in 75 foreign countries, it now has the capability — with the netLoan Funding finance platform — to offer its customers multiple finance options to purchase any ZAP electric vehicle or to get pre-qualified by a lender prior to purchase. netLoan will initially offer ZAP customers a variety of unsecured personal loan options to make their purchases, with additional secured loan and lease options to be rolled out in the coming months.

"The majority of automobiles are purchased through monthly payments," said ZAP CEO Steve Schneider. "This association removes the barrier for average consumers to be able to afford a ZAP electric car, truck or scooter."

ZAP's goal is to provide customers with unparalleled online access to electric vehicles, and to offer the widest variety of consumer and commercial financing products for those vehicles, including secured loans and leases, and unsecured loans for consumers and businesses. Now with the relationship with netLoan funding, ZAP can increase the affordability of its full line of electric vehicles.

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