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Electric car finance

With more and more electric cars on the market, is getting electric car finance right for you? Read below to see how we could help you into an electric vehicle.

Get a quote

Electric car finance

With more and more electric cars on the market, is getting electric car finance right for you? Read below to see how we could help you into an electric vehicle.

Get a quote

Buying an electric car on finance is something that more people are talking about. With the UK Government’s ban on sales of new petrol, diesel and hybrid cars set to take effect in 2030, electric car finance has become even more popular. People are more and more conscious of their CO2 emissions around the world.

We’ve put together a guide to electric car finance, including some of the most affordable electric cars on the market. But don’t worry – if you’ve already got a car in mind, that’s great. You could try using our car finance calculator to get an idea of what your finance agreement might look like. Or, if you’re ready, you can make an online application. It should only take 5 minutes to fill out.

Can I buy an electric car on finance?

Yes! Just as with a petrol, diesel or hybrid car, you can buy an electric car on finance. There are a variety of different types of finance available, so its important to understand your agreement before you sign. We’ve written a handy guide to the different types of car finance.

There are many positives to financing an electric vehicle:

  • They are very cheap to run
  • There is no tax payable on electric vehicles
  • They can be cheap to maintain
  • They produce no emissions

To help you make an informed decision, we’ve written a guide on electric cars which explains the benefits in more detail. If you’re set on an electric car, great! Apply today and we can guide you through the process.

Electric car prices

Yes, an electric car might be slightly more expensive to buy than a conventional car, but that doesn’t mean we can’t help you make the change to electric.

To help you decide, we’ve dug deep into electric car prices and found 5 of the cheapest electric cars currently on sale:

  • Smart EQ ForTwo starting at £19,200
  • Fiat 500 Electric starting at £19,995
  • Vauxhall Corsa-e starting at £21,485
  • Seat Mii electric starting at £22,800 
  • Volkswagen e-Up! starting at £23,650

These are prices from new, accurate as of 16/08/22. We may also be able to help you get a used electric car on finance as long as it fits our lending criteria.

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Buying an electric car on finance is something that more people are talking about. With the UK Government’s ban on sales of new petrol, diesel and hybrid cars set to take effect in 2030, electric car finance has become even more popular. People are more and more conscious of their CO2 emissions around the world.

We’ve put together a guide to electric car finance, including some of the most affordable electric cars on the market. But don’t worry – if you’ve already got a car in mind, that’s great. You could try using our car finance calculator to get an idea of what your finance agreement might look like. Or, if you’re ready, you can make an online application. It should only take 5 minutes to fill out.

Can I buy an electric car on finance?

Yes! Just as with a petrol, diesel or hybrid car, you can buy an electric car on finance. There are a variety of different types of finance available, so its important to understand your agreement before you sign. We’ve written a handy guide to the different types of car finance.

There are many positives to financing an electric vehicle:

  • They are very cheap to run
  • There is no tax payable on electric vehicles
  • They can be cheap to maintain
  • They produce no emissions

To help you make an informed decision, we’ve written a guide on electric cars which explains the benefits in more detail. If you’re set on an electric car, great! Apply today and we can guide you through the process.

Electric car prices

Yes, an electric car might be slightly more expensive to buy than a conventional car, but that doesn’t mean we can’t help you make the change to electric.

To help you decide, we’ve dug deep into electric car prices and found 5 of the cheapest electric cars currently on sale:

  • Smart EQ ForTwo starting at £19,200
  • Fiat 500 Electric starting at £19,995
  • Vauxhall Corsa-e starting at £21,485
  • Seat Mii electric starting at £22,800 
  • Volkswagen e-Up! starting at £23,650

These are prices from new, accurate as of 16/08/22. We may also be able to help you get a used electric car on finance as long as it fits our lending criteria.

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What your car loan could look like

Summary

  • Monthly payment: £000.00
  • Total to repay: £00,000.00
  • Calculated APR: 00.0%

Representative 33.5% APR

Get a quote

What your car loan could look like

  • Monthly payment: £000.00
  • Total to repay: £00,000.00
  • Calculated APR: 00.0%

Get a quote

Representative 33.5% APR

Electric cars we can help finance

As with any vehicle finance provider, every vehicle we finance has to fit into our lending criteria. If you meet the following, we’d love to help you get started:

Electric cars we can help finance

As with any vehicle finance provider, every vehicle we finance has to fit into our lending criteria. If you meet the following, we’d love to help you get started:

  • Monthly earnings over £1,000 (after tax)
  • To be aged between 21 and 70
  • A full valid UK driving licence
  • 2 consecutive months of payslips or bank statements

We can provide an electric car on finance as long as it meets the following criteria:

  • Financing a car from £4,000-£35,000
  • Maximum of 120,000 miles on the clock
  • No older than 15 years at the end of the agreement

  • Monthly earnings over £1,000 (after tax)
  • To be aged between 21 and 70
  • A full valid UK driving licence
  • 2 consecutive months of payslips or bank statements

We can provide an electric car on finance as long as it meets the following criteria:

  • Financing a car from £4,000-£35,000
  • Maximum of 120,000 miles on the clock
  • No older than 15 years at the end of the agreement
Get a quote today

Electric van finance

There are many advantages to using an electric van, whether for personal or business use. Check out our electric van guide where we break down the benefits of electric vans.

There is such a wide variety of electric vans to finance. some of the most popular models of electric van include:

  • Nissan e-NV200
  • Peugeot Partner Electric
  • Citroen Berlingo Electric
  • Renault Kango Z.E. 33
  • Renault Master Z.E.
  • IVECO Daily Electric

Getting started with electric van finance

Get a quote today

Electric van finance

There are many advantages to using an electric van, whether for personal or business use. Check out our electric van guide where we break down the benefits of electric vans.

There is such a wide variety of electric vans to finance. some of the most popular models of electric van include:

  • Nissan e-NV200
  • Peugeot Partner Electric
  • Citroen Berlingo Electric
  • Renault Kango Z.E. 33
  • Renault Master Z.E.
  • IVECO Daily Electric

Getting started with electric van finance

If you are thinking of buying an electric van on finance, you can apply today, or you could try our van finance calculator. This will give you an idea of what your electric van finance agreement might look like. It will tell you the total amount, APR and monthly repayments.

If you’re looking for a van on finance and you’re self-employed, or even if you’re looking for bad credit van finance, don’t worry! We specialise in helping those rejected by other lenders.

Please note: We’ll only finance electric vans if the battery is sold as part of the vehicle itself. Some electric vans will be sold with the battery separately, usually on lease from the vehicle manufacturer. Unfortunately, we will not be able to offer finance for these vans.

Get a quote today
Electric Van

If you are thinking of buying an electric van on finance, you can apply today, or you could try our van finance calculator. This will give you an idea of what your electric van finance agreement might look like. It will tell you the total amount, APR and monthly repayments.

If you’re looking for a van on finance and you’re self-employed, or even if you’re looking for bad credit van finance, don’t worry! We specialise in helping those rejected by other lenders.

Please note: We’ll only finance electric vans if the battery is sold as part of the vehicle itself. Some electric vans will be sold with the battery separately, usually on lease from the vehicle manufacturer. Unfortunately, we will not be able to offer finance for these vans.

Get a quote today
Electric Van

FAQs about electric car finance

Having bad credit doesn’t mean you can’t get finance for an electric car, but it may mean that some lenders won’t approve you. We specialise in helping people get bad credit car finance, including those with an IVA or CCJ.

It is hard to say for certain because it depends on lots of factors. Over time the battery in an electric car becomes less effective as it is used more and more. But don’t worry, most manufacturers will guarantee a battery will last for a certain amount of years or miles.

It depends on the size of the car’s battery and the speed of the charging point you use. The bigger the car’s battery and the slower the charging point, the longer it may take to charge from empty to full. That’s why many drivers top up their charge when they can rather than waiting to charge it from empty to full.

The range varies depending on the vehicle, how you drive it and the conditions you drive it in. For example, the Nissan Leaf can go up to 168 miles on a full charge.

To charge your car at home, you’ll need to get a charging station fitted. If you’re out and about, you can use a public charging station. These can be found at supermarkets and motorway services. You could also use Zap Map to find nearby charging points too.

Electric cars can be a little bit more expensive to insure because some parts like the battery can be costly to repair or replace if they are damaged. Luckily they are easier to maintain as there is no oil to change, no engine to maintain, and fewer parts.

The cost of charging depends on the vehicle, how much you charge it, and what sort of charger you are using to charge it.

Pod Point’s study into the cost of charging shows that it costs £11.20 to fully charge a Nissan Leaf (2018 model). Assuming a real-world range of 168 miles, then this car costs roughly 6.67p per mile to drive. 

Let’s compare that to a petrol car. The average price for petrol is 159.0p/litre (as of The AA’s April report), and the average MPG of a petrol car in the UK is 52.6mpg according to The RAC Foundation’s report, which means on average you’re paying 13.7p per mile to drive a petrol car. That’s over double the cost per mile!

Data is accurate as of 27/05/22. Cost per mile figures may change as the prices of petrol and energy change.

FAQs about electric car finance

Having bad credit doesn’t mean you can’t get finance for an electric car, but it may mean that some lenders won’t approve you. We specialise in helping people get bad credit car finance, including those with an IVA or CCJ.

It is hard to say for certain because it depends on lots of factors. Over time the battery in an electric car becomes less effective as it is used more and more. But don’t worry, most manufacturers will guarantee a battery will last for a certain amount of years or miles.

It depends on the size of the car’s battery and the speed of the charging point you use. The bigger the car’s battery and the slower the charging point, the longer it may take to charge from empty to full. That’s why many drivers top up their charge when they can rather than waiting to charge it from empty to full.

The range varies depending on the vehicle, how you drive it and the conditions you drive it in. For example, the Nissan Leaf can go up to 168 miles on a full charge.

To charge your car at home, you’ll need to get a charging station fitted. If you’re out and about, you can use a public charging station. These can be found at supermarkets and motorway services. You could also use Zap Map to find nearby charging points too.

Electric cars can be a little bit more expensive to insure because some parts like the battery can be costly to repair or replace if they are damaged. Luckily they are easier to maintain as there is no oil to change, no engine to maintain, and fewer parts.

The cost of charging depends on the vehicle, how much you charge it, and what sort of charger you are using to charge it.

Pod Point’s study into the cost of charging shows that it costs £11.20 to fully charge a Nissan Leaf (2018 model). Assuming a real-world range of 168 miles, then this car costs roughly 6.67p per mile to drive. 

Let’s compare that to a petrol car. The average price for petrol is 159.0p/litre (as of The AA’s April report), and the average MPG of a petrol car in the UK is 52.6mpg according to The RAC Foundation’s report, which means on average you’re paying 13.7p per mile to drive a petrol car. That’s over double the cost per mile!

Data is accurate as of 27/05/22. Cost per mile figures may change as the prices of petrol and energy change.

Hybrid car finance

Hybrid cars might offer a more affordable way to do some zero-emission driving. If electric isn’t quite right for you, don’t worry. We’ve written a guide to hybrid cars.

Hybrid car finance

Self-employed vehicle finance

We consider applications even if you’re self-employed and have bad credit so we might be able to offer you finance even if other lenders have rejected your application.

Self-employed vehicle finance

Our application process

It is important to completely understand the car finance agreement that you may be entering – find out more about how a conditional sale agreement works.

Our application process

Hybrid car finance

Hybrid cars might offer a more affordable way to do some zero-emission driving. If electric isn’t quite right for you, don’t worry. We’ve written a guide to hybrid cars.

Hybrid car finance

Self-employed vehicle finance

We consider applications even if you’re self-employed and have bad credit so we might be able to offer you finance even if other lenders have rejected your application.

Self-employed vehicle finance

Our application process

It is important to completely understand the car finance agreement that you may be entering – find out more about how a conditional sale agreement works.

Our application process

For a better road ahead

Moneybarn is a member of the Finance and Leasing Association, the official trade organisation of the motor finance industry. The FLA promotes best practice in the motor finance industry for lending and leasing to consumers and businesses.

Moneybarn is the trading style of Moneybarn No. 1 Limited, a company registered in England and Wales with company number 04496573, and Moneybarn Limited, a company registered in England and Wales with company number 02766324. The registered address for these companies is: Athena House, Bedford Road, Petersfield, Hampshire, GU32 3LJ.

Moneybarn’s VAT registration number is 180 5559 52.

Moneybarn Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702781)

Moneybarn No. 1 Limited  is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702780)

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© Copyright 2023 Moneybarn Limited
© Copyright 2023 Moneybarn Limited

Representative example: Total amount of credit £10,273. Repayable over 58 months, 57 monthly payments of £335.36. Representative 33.5% APR (fixed). Deposit of £913.62. Total charge for credit £8,842.52. Total amount payable £20,029.14. Subject to status and affordability. You could risk losing your vehicle if you do not keep up payments.