Electric
car finance

CarFinance specialises in financing for electric cars, helping you secure the best deals on used electric vehicles (EVs). With the UK set to ban new petrol and diesel cars by 2030, choosing an electric car today not only prepares you for the future but also saves on running costs and emissions. Find your ideal electric car finance solution with CarFinance and start driving cleaner today. Apply now to get a personalised quote!

• Zero Emissions: Drive with a cleaner conscience, knowing you’re reducing environmental impact.
• Low Maintenance Costs: Electric vehicles require less upkeep, saving you money in the long run.
• Exempt from Congestion Charges: Benefit from exemptions in zones like London’s ULEZ, reducing city driving costs.

Can I get an electric car on finance?

Yes, you can! At CarFinance, you can finance an electric car just as easily as a petrol or diesel model. Electric cars may have a higher initial cost, but our flexible financing options make the switch to electric affordable and simple. Let us help you find the perfect electric vehicle financing plan and start enjoying the benefits of driving electric today.

Can I apply for electric car finance with bad credit?

Yes, at CarFinance, we believe that bad credit shouldn’t prevent you from financing an electric car. We partner with lenders who consider all credit histories, giving you access to competitive finance options that suit your needs. With our no-deposit options, you can begin your electric car journey without an upfront payment. Our goal is to find you the most affordable and suitable finance plan, whatever your credit score.

Contact us today to explore your options and make the switch to electric easy and stress-free.

The different car finance types for electric cars

Hire Purchase

With Hire Purchase (HP) from CarFinance, you can spread the cost of your electric car over manageable monthly payments. This option is ideal for those looking to own their vehicle outright at the end of the agreement. Even if you have bad credit, we have HP options available. Additionally, we offer a 0 deposit option, making it easier to get behind the wheel of an electric car without a large upfront payment.

Personal Contract Purchase (PCP)

With Personal Contract Purchase (PCP) through CarFinance, you can enjoy lower monthly payments compared to Hire Purchase. At the end of the agreement, you have the flexibility to choose between returning the vehicle, making a final balloon payment to own it outright, or part-exchanging it for a new model. We offer PCP options even if you have bad credit. Explore our 0 deposit options to start driving an electric car without a large upfront payment.

What to consider before buying an electric car on finance

Before purchasing an electric car on finance, consider the following:

• Budget: Determine how much you can afford for monthly payments and initial costs.
• Charging infrastructure: Ensure convenient access to charging stations in your area.
• Running costs: Estimate electricity costs versus petrol and diesel cars expenses.
• Range: Check the electric car's range to suit your daily driving needs.
• Warranty coverage: Understand warranty terms for the battery and vehicle.
• Financing options: Explore Hire Purchase or Personal Contract Purchase to find the best fit for your financial situation.

Types of electric vehicles that can be financed

There are three main types of electric vehicles (EVs) that can be financed:

1. Fully Electric Vehicles (EVs): These vehicles run solely on electric power stored in a battery. They produce zero emissions and require charging from external sources.
2. Plug-in Hybrid Electric Vehicles (PHEVs): PHEVs have both an electric motor and an internal combustion engine. They can run on electric power alone for shorter distances and switch to petrol and diesel cars for longer journeys.
3. Full Hybrid Electric Vehicles (HEVs): HEVs use a combination of an electric motor and a petrol/diesel engine. They do not need to be plugged in as they charge their batteries through regenerative braking and the engine.

Each type offers different benefits and charging requirements. Contact CarFinance to explore financing options for these electric vehicle types.

Benefits of electric vehicles

Environment Advantages

Electric vehicles (EVs) produce zero greenhouse gas emissions, helping to reduce air pollution and combat climate change. They contribute to cleaner air and a healthier environment for everyone.

Economic Advantages

EVs have lower operating costs compared to petrol and diesel cars, saving money on fuel and maintenance. They also qualify for lower road tax and congestion charge exemptions in some areas, providing additional cost savings.

Driving Advantages

Electric vehicles offer smooth and quiet operation with instant torque, providing impressive acceleration and a pleasant driving experience. They are also exempt from paying Vehicle Excise Duty (VED) and can benefit from free or discounted parking in certain locations.

Stability Advantages

EVs typically have high MOT pass rates due to fewer moving parts and simplified maintenance requirements. This contributes to increased reliability and reduced maintenance costs over time. Additionally, the affordability of used EVs like the Renault Zoe and Smart EQ ForTwo/ForFour makes them accessible options for budget-conscious buyers. Contact CarFinance to learn more about financing used electric vehicles.