Polestar 2 backed by guaranteed future value

Polestar has made another move to sweeten its sole offering in the Australian marketplace, introducing a finance arm that will tempt potential buyers of the new 2022 Polestar 2 electric fastback with a guaranteed future value option.

This will be important for the fledgling Chinese-Swedish electric car brand, which despite having strong connections with Volvo has not yet proven itself in terms of resale value.

The company says the new Polestar Finance organisation, which is underwritten by Allied Credit, will also offer a competitive fix-rate loan with balloon payment.

As with similar guaranteed future value (GFV) products offered by a variety of car-makers – Mazda being among the latest – the Polestar offer provides owners with a minimum value of their vehicle at the end of the loan term.

At that point, Polestar says the customer can choose to trade-in the vehicle as part of an upgrade into a new Polestar model, pay the balloon figure and retain the car, or return the car with no balloon payment.

All of this will occur online as part of the purchase process, which is in keeping with the brand’s so-called direct-to-public online sales model that does not include traditional bricks-and-mortar dealerships.

The finance move follows the EV brand’s announcement last month that the Polestar 2 will come with a seven-day money-back customer satisfaction guarantee, once first deliveries of the car take place.

“This is another very important step in making the Polestar purchase and ownership journey a convenient experience,” said Polestar Australia chief Samantha Johnson.

“The partnership with Allied Credit draws in great industry experience and will offer our customers the opportunity to arrange the funding elements of their Polestar ownership in a way that best suits them.”

The order book opened for the Polestar 2 in December last year, ahead of deliveries commencing this month.

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