Xcelerate Auto, a Texas-based provider of electric vehicle leasing, financing and warranty solutions, recently introduced a new payment option for its XCare EV Protection plan.

Through an exclusive partnership with Service Payment Plan (SPP), Xcelerate now can enable 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 is designed to make it easier for buyers to secure affordable extended warranties.

With 20% down and 11 additional monthly payments, the company said customers can enjoy comprehensive coverage for crucial EV components — like high-voltage batteries and drive units — without the burden of a large upfront cost.

Xcelerate Auto CEO KJ Gimbel explained that 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,” Gimbel said.

Gimbel added XCare EV Protection covers essential components that are both costly and critical to EV longevity, with the average claim exceeding $1,200 per occurrence.

Importantly, while EVs require less frequent servicing than traditional combustion engine vehicles, he went on to note 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. 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,” Gimbel said. “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.”

SPP president Charlie Hymen added, “It’s an honor to support Xcelerate’s mission to bring this valuable protection to EV owners everywhere. We’ve been struck by Xcelerate’s obsession with improving the customer experience at every turn and look forward to being part of their exciting journey ahead.”