I think all of these things can be true for indefinite but not infinite periods of time.  When they started borrowing at 0% in their latest convert - at least 10,000 pairs of eyes had to open.  “How do i get some of that free money?”  Over the next several quarters you would expect the number of vehicles to grow to match the demand.  Classic arbitrage with some fiat ZIRP gas thrown on top.  6 months seems like a long time, but it’s nothing.  I might be wrong, but expect a bunch of copycats that rhyme with this even if they don’t repeat it.  That should shrink the premium.