Jim Cramer on How Fisker Is Changing the Car Buying Landscape

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Jim Cramer sat down with Henrik Fisker, CEO of Fisker.

"Fisker said his company is not only looking to reinvent the car, but also how cars are purchased. He said younger people don't want to take out a huge auto loan or lock themselves into a multi-year lease, which is why Fisker will offer flexible leases where buyers can return the vehicle any time they want," TheStreet's Scott Rutt wrote in his Mad Money recap.

"Additionally, customers of Fisker will be able to buy features for their vehicle using an app on their phone. When the car is returned, those features will be reset for the next lessee. Fisker expects their vehicles to have 10 owners over a 15-year lifespan, giving the company recurring revenues," he continued.

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