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We are a credit broker, not a lender.Rates from 9.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status. 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, the amount payable would be £185.33 per month, with a total cost of credit of£4,119.81 and a total amount payable of £11,119.81. We look to find the best rate from our panel of lenders and will offer you the best deal that you're eligible for. We receive a fixed fee commission per finance agreement, or we receive a commission based on a percentage of the total amount of finance taken. This will not affect the interest rate offered or the total amount repayable. Our service is free.
Moneyrepublic 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 Moneyrepublic and start driving cleaner today. Apply now to get a personalised quote!
Why finance an electric car?- 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.
How it works?
Apply for your loan
To apply for your car finance to borrow money, decide on the amount you need and the loan term. Our lenders will assess your application and provide feedback promptly.
Apply nowReceive the money
If your application is approved, and you get a car finance quote, the funds will be deposited into your account the same day. Use the money towards your car purchase or other expenses.
Pay it back over time
Repay the loan through manageable monthly payments over 1 to 5 years, covering the borrowed amount and interest. Start your application now to access the finance you need for your next car or personal requirements. Apply today for a swift and straightforward process.
Our Lenders
We work with over 15 lenders offering 100+ HP and PCP deals so that you could have the best offer.
Car finance calculator
- 36months
- 42months
- 48months
- 60months
This helps you get a more accurate finance estimate
Not sure about being approved?
Check finance eligibilityWon't affect your credit score
We are a credit broker not a lenderThese estimates are subject to credit checks, and may change if you do apply for finance.
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| Loan amount | £7,500.00 |
|---|---|
| Length of Loan | 60 months |
| Monthly payment | £0 |
| Interest rate | 14.9% APR |
| Optional final payment | £0 |
| Amount of interest | £0 |
| Total payment | £0 |
Rates from 9.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status.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, the amount payable would be £185.33 per month, with a total cost of credit of£4,119.81 and a total amount payable of £11,119.81. We look to find the best rate from our panel of lenders and will offer you the best deal that you're eligible for. We receive a fixed fee commission per finance agreement, or we receive a commission based on a percentage of the total amount of finance taken. This will not affect the interest rate offered or the total amount repayable. Our service is free.
Can I get an electric car on finance?
Yes, you can! At Moneyrepublic, 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 Moneyrepublic, 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.
What do you need to apply for hybrid car finance
| To apply for car finance you need to | Requirements |
|---|---|
| Your name | Be aged 18-75 years old |
| Date of birth and nationality | Requires initial deposit |
| Your recent address history | Receive a monthly income of £1,000 or above |
| Tour employment status | |
| Your income and expenses | |
The different car finance types for electric cars
Hire Purchase
With Hire Purchase (HP) from Moneyrepublic, 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 Moneyrepublic, 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:
- 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.
- 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.
- 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 Moneyrepublic 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 Moneyrepublic to learn more about financing used electric vehicles.
Why choose us?
Get your car finance online
Get car finance options with no impact on your credit score.
Buy a car from any dealer
Once approved, collect or get your car delivered to you.
Car finance quality assured
We’ll do a thorough vehicle HPI, full-service history and MOT check. Buy with confidence.
FAQ
Is it worth buying a used electric car?
Buying a used electric car is worthwhile due to lower upfront costs and reduced maintenance expenses. They depreciate less compared to conventional vehicles. Used electric cars offer value for money and contribute to sustainable transportation.
Can I get a no deposit car finance deal for an electric vehicle?
Yes, you can secure a no deposit electric car finance deal for an electric car. Many lenders offer this option, allowing you to purchase an electric car without an upfront payment. Contact Moneyrepublic to explore no deposit finance options for your electric car purchase.
Can I pay off my electric car finance deal early?
Yes, you can settle your electric car finance deal early, but you might face an early termination fee. Review your finance contract terms to understand potential charges for ending the agreement sooner than scheduled. Contact Moneyrepublic for guidance on early repayment options.
Am I eligible to buy an electric car on finance?
Your eligibility to buy an electric car on finance depends on several factors. Typically, you must meet age requirements (usually 18) and have a satisfactory credit score. A higher credit score improves your chances of approval and better financing terms. Lower credit scores may limit borrowing amounts and car options, with potentially higher interest rates or APR.
How expensive is an electric car to insure and maintain?
Insurance and maintenance costs for an electric car vary based on model, insurance provider, manufacturer, and usage. Electricity costs less than petrol or diesel, and electric cars need less maintenance than internal combustion engines (ICE). Contact Moneyrepublic for insights on electric car insurance and maintenance expenses.