Affordable Payments Find out how EV ownership can be affordable

How does EV finance work?

Rest assured: EV finance works in exactly the same way as traditional car finance. You don't need to approach the buying process in a different way, and many of the terms will be familiar to car buyers.

EVs do, however cost a little more to buy up front – which is why so many people actually choose finance to secure their next EV, rather than more traditional methods. The advantages are offsetting the new car cost over regular monthly payments… and then benefitting from the significantly cheaper running costs EVs bring.

Finance includes personal contract hire, or PCH, and personal contract lease, or PCP. Other specialist types of finance are being developed too, all to make EVs more attainable to everyday motorists.

What about EV insurance?

EV car insurance should cost no more than that for a regular car these days. Mainstream companies are getting used to them – and if you do get a pricey quote, just go to a specialist EV insurer who will usually be more competitive.

There is no reason for an EV to cost more to insure than a regular car… and plenty of reasons why they should be cheaper!