Green cars can mean lower rates. Here’s why.

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Electric Car sales are on the rise across most countries, as adoption has become the focus for Industry and Governments. Spearheaded by Tesla, the EV market is well and truly gathering pace and Manufacturers are having to adapt to the new found demand from consumers for these types of vehicles.

It isn’t just Manufacturer’s having to keep pace, Lenders are also captured by the excitement behind the consumers move to Electric Vehicles. And Lenders are offering some real incentives to purchase an EV, with many now offering lower interest rates to customers.

Interest rates on Green loans are generally lower than traditional loans, up to 0.5% with some lenders. This is thanks to cheaper funding costs, and Lenders passing these savings on to the borrower.

Why Go Green?

Electric cars help reduce the greenhouse gas emissions in our environment, helping limit climate change. And with Governments, Industry and Lenders becoming more socially responsible, offering incentives to consumers it may be a great way for you to enter the EV market.

Here are some examples of vehicles that may qualify for a Green loan:

  • Pure Electric

  • Plug-In Hybrid electric

  • Vehicles up to 7 years old.

  • Some Motorbikes

For more information on the best deals available on Green Loans, contact our Finance Team today.

The information is intended to be of a general nature only. We do not accept any legal responsibility for any loss incurred as a result of reliance upon it – please make your own enquiries.

Any advice contained in this document has been prepared without taking into account your particular objectives, financial situation or needs. For that reason, before acting on the advice, you should consider the appropriateness of the advice having regard to your own objectives, financial situation and needs.

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