If you’re considering financing an electric vehicle, both Tenet and Skyla Credit Union offer advantages.

Credit unions’ perks include competitive rates, attentive customer service and member discounts. Skyla Credit Union offers financing options for electric and gas vehicles.

By comparison, Tenet is an online auto lender that caters only to those financing electric vehicles. The platform assists with the entire process, including navigating tax incentives and charging arrangements.

Tenet is best for drivers with good credit who need fast funding, while Skyla Credit Union is ideal for drivers looking to finance an expensive EV.

Tenet vs. Skyla Credit Union at a glance

There is no perfect auto loan for every driver. Instead, there is the right one for your needs and background. Weigh the specifics when determining which can make your EV dreams come true.

Tenet Skyla Credit Union
Bankrate score 4.4 4.4
Better for
  • Fast funding timeline
  • Refinancing an EV
  • High max funding amount
  • Low minimum funding amount
Loans offered New and used EV loans, refinancing New, used, refinancing
Loan amounts $15,000-$95,000 ($150,000 for refi loans) $3,000-$150,000
APRs 6.49%-15.75% 4.75%-16.50%
Loan term lengths 36-84 months 1-48 months
Fees No fees No fees
Minimum credit score 620 Not specified
State footprint 31 states and Washington, D.C. 50 states
Time to funding As soon as one day following approval Not specified
Autopay discount? Yes, 0.25% No
Refinancing restrictions
  • Vehicle age: Be a 2012 model year or newer
  • Have under 120,000 miles
Not specified

Best for fast funding


Rating: 4.4 stars out of 5
Learn more in our Bankrate review

Best for high maximum loan amounts


Rating: 4.1 stars out of 5
Learn more in our Bankrate review

How to choose between Tenet and Skyla Credit Union

The right lender to secure an electric vehicle auto loan comes down to the state you reside in, how much you want to finance and how your credit will impact available rates.

Choose Tenet if you want access to vehicle insights

Many drivers choose to drive an electric vehicle for the environmental impacts that come along with it. As EV tech improves, access to related data can emphasize that you made the right decision buying green and help you save more money.

You gain access to an expansive dashboard when getting a Tenet auto loan. Here, you can see how you can save money, handle upcoming loan payments and explore how driving electric is positively impacting the planet.

Tenet also offers drivers the ability to refinance their current loans. Skyla Credit Union’s website mentions refinancing loans but gives few details, making it hard to assess whether they’re a good option.

Choose Skyla Credit Union if you want the most flexibility in loan amount

As mentioned, driving an electric car means more advanced technology and driving experience but also tends to mean a much higher price point. On average, a new EV sold for $53,353 in January, according to Kelley Blue Book.

Your lender must offer the financing amount you need. Skyla Credit Union offers funding for up to $150,000. And while financing so pricy a vehicle might not be in your budget, the wiggle room can be handy.

Skyla is also a good option if you need a small auto loan, as their loan amounts start as low as $3,000. Tenet’s lowest loan amount is $15,000.

Compare more lenders before applying

Both Tenet and Skyla Credit Union offer great auto loans whether you want to purchase a new ride or refinance your current loan. Your priority should be signing off on the right auto loan experience for your needs. Tenet is the way to go if you know which electric vehicle you want but prefer extra guidance specific to driving an EV. Meanwhile, Skyla Credit Union boasts similar rates with a wider range of loan amounts.