Representative example: borrowing £7,000 over 5 years with a representative APR of 21.9%, the annual interest rate of 21.9% (Fixed) and a deposit of £0.00, the monthly would be £178.52, with a total cost of credit of £3711.20 and a total amount payable of £10,711.20. Rates may differ as they are dependent on individual circumstances'. Rates from 9.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status. Quick Car Finance are a broker not a lender.
Finance your electric car anywhere in the UK!
- Cheaper to run & maintain
- Zero emissions
- No tax to pay
- Grants of up to £2,500.
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Quick Car Finance's aim is to make looking for electric car finance as easy as possible. If you’re looking at buying a new or used electric car in the UK, we can help direct you to appropriate dealerships in your area/radius.
Our electric car finance application process is quick and easy and if all goes to plan you could be driving away the same day!
Different types of electric cars
- Full electric vehicles
- Electric vehicles are completely charged by a battery that can be charged at home or by public charging stations. Charging stations are becoming more common as more electric vehicles are slowly becoming the norm and are frequently being rolled out in more locations.
- Plug into hybrid electric vehicles (PHEVs)
- Plug-in hybrids have a battery powered motor as well as having a petrol or diesel engine. If you wish to do so you can drive shorter journeys electrically powered only and switch to using petrol or diesel for longer journeys.
- Full hybrid electric vehicles (FHEVs)
- Full hybrid electric vehicles are powered by both a battery and or a petrol/diesel engine and the car switches between these automatically so you'd only be able to cover short journeys using electric only. Full hybrid vehicles don't need to be plugged in to charge.
Take it directly from the people who know!
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Electric Car Finance FAQs
- Can you get an electric car on finance?
Yes, you can absolutely finance an electric car. Many lenders, including banks, credit unions, and specialized electric vehicle (EV) finance companies, offer financing options for purchasing an electric car. In fact, due to the increasing popularity of electric vehicles, there are now specific financing packages and deals tailored to the unique characteristics of EVs.
- Should I finance an electric car?
Deciding whether to finance an electric car depends on your individual financial situation and preferences. Here are some considerations:
Evaluate your budget to determine if you can comfortably afford the monthly payments and any required upfront costs.
Consider the long-term cost savings associated with owning an electric car, including reduced fuel costs and potential government incentives.
Research the expected resale value of the specific electric car model you're considering. Some models may hold their value better than others.
Compare offers from different lenders to find the most favorable terms, including interest rates and loan duration.
Consider how important it is for you to own the vehicle outright versus potentially upgrading to a newer model in a few years.
Ultimately, the decision to finance an electric car should align with your financial goals and lifestyle.
- Is it cheaper to buy or lease an EV?
Whether it's cheaper to buy or lease an electric vehicle (EV) depends on your individual circumstances and preferences. Here are some key points to consider:
Buying an EV typically involves higher initial costs, but you have full ownership of the vehicle. Over time, you may realize greater cost savings, especially if you plan to keep the car for a long time.
Leasing an EV often requires lower upfront costs and provides the flexibility to upgrade to a new model at the end of the lease term. Monthly payments may be lower compared to a loan for the full purchase price. However, you do not own the vehicle at the end of the lease.
EVs tend to depreciate at a slower rate compared to traditional internal combustion engine (ICE) vehicles. This can be a factor in the cost-effectiveness of both buying and leasing.
Check for available government incentives, grants, or tax credits for EV purchases or leases. These can significantly impact the overall cost.
Ultimately, it's advisable to conduct a thorough financial analysis, taking into account factors like your budget, driving habits, and long-term plans, before deciding between buying or leasing an EV.
- Will electric car prices get cheaper?
As of my last update in September 2021, there has been a general trend of decreasing electric car prices due to advancements in battery technology and economies of scale in production. Additionally, as more automakers enter the electric vehicle market, increased competition is likely to drive prices down.
However, it's important to note that the exact trajectory of electric car prices will depend on various factors, including technological advancements, government policies, and market demand. It's anticipated that over the coming years, electric car prices will continue to become more competitive, making them increasingly accessible to a wider range of consumers.
Your electric car will be financed with a hire purchase agreement
This allows you to lease your new electric vehicle whilst paying set monthly installments, during an agreed period of time. Once all the installments have been paid, the car is paid for and is yours.
Check out how much your monthly installments will cost with our specialized calculator.Calculator
How it works
- Complete Apply Form Tell us a little about what your looking for and who you are.
- Length of term How long are you looking to take finance out for?
- List of comparisons We will provide you with a list of competitive rates that suit your personal needs.
- Shop our best deals We will help you shop around to find the best deal that is available to you.