If you're looking for an electric car finance provider, Carplus is here to assist! The best deals and quotes on used EVs will be found for you from our network of lenders, and our experts will be available round the clock to answer any concerns you may have.

With the 2030 timeline for the ban on the sale of new petrol or diesel cars fast approaching, turning green could be a smart financial decision. Electric vehicles are becoming more widely accepted as a viable option for the general public.

To meet the growing demand, carmakers from around the world now provide at least one EV Car choice in their line-up, so there's a wide range of options for buyers. Your dream electric vehicle can become a reality with our flexible financing options, which allow you to break down the cost into manageable monthly payments.

Car finance calculator

Must be between £3,000 to £50,000
Must be between £100 to £10,000 and difference between borrow and deposit must be £5,000

These estimates are subject to credit checks and may change when you apply for finance. this is for example purposes only

Hire Purchase (HP)
APR 9.9%

60 monthly payments of


Interest rate
9.9% APR
Amount of interest
Total payment
Personal Contract Purchase (PCP)
APR 9.9%

60 monthly payments of


Optional final payment
Interest rate
9.9% APR
Amount of interest
Total payment

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.

How to buy an electric car on finance

Getting an electric car loan with us is as simple as getting a regular car loan

The following three steps are all that is required.

Fill out our online application

To get started, simply fill out our simple online application form with your contact information, address, and employment details. We'll take a look at it and get back to you if we need any additional details.

Receive approval

Once you've been approved, one of our experts will contact you to discuss your financing choices. We'll do everything we can to find you the best offer possible from a variety of reliable lenders. After you've secured your financing, it's time to select the ideal electric vehicle for you.

Get your dream car!

Once everything is in order, you'll be able to drive away in your new electric car, confident in the knowledge that you made the right decision.

Our customers who have already got car finance!

  • High Acceptance Rate
  • Representative APR 21.9%
  • Rated excellent on Trustpilot

The different car finance types for electric cars

The following are the most popular financing options for electric cars.

Hire Purchase

One of the most prominent ways to finance a car is with a Hire Purchase or HP. The electric car price can be broken down into manageable monthly payments with this fixed-interest loan. There are unlikely to be any mileage limits, and once you've completed all your payments, car ownership is possible as the vehicle will be yours!

Personal Contract Purchase (PCP)

Personal Contract Purchase (PCP) is another kind of finance. Even though your monthly payments are likely to be lower, you may be forced to accept a mileage allowance. You have three options at the end of your agreement: return the vehicle, pay the balloon payment, or use any positive equity as a deposit on a new deal.

Can I apply for electric car finance with bad credit?

Even if you've got a bad credit score, don't worry. You can still get good electric vehicle finance even if your credit isn't excellent. If you've got bad credit, we have financing options available to you. To provide you with the best and most affordable alternative, we compare several lenders who are willing to take your credit score into consideration.

Additionally, we provide a 0 deposit option for those who are concerned about having to pay a large upfront deposit. Without a deposit, you can begin financing your new electric car without making an upfront payment of any kind.

Types of electric vehicles that can be financed

The following are the three main types of electric vehicles available on the UK market:

Electric vehicles

An electric vehicle's battery provides all the vehicle's power, and it may be recharged either at home or at a public charging station. The charging infrastructure is growing by the day, and public chargers can be found in convenience stores, motorway rest stops, petrol stations, and several workspaces.

Plug-in hybrid electric vehicles (PHEVs)

Plug-in hybrid cars have a combined battery-powered motor with a petrol/diesel engine. Shorter trips can be driven only on electricity, and longer ones can be driven using petrol or diesel. Similar to electric cars, the battery of the vehicle needs to be recharged by connecting it to a charging station.

Full hybrid electric vehicles (FHEVs)

A fully hybrid electric vehicle has both a battery and a petrol or diesel engine, and the car shifts between both automatically so that you can only go a short distance on electric power alone. Full hybrid vehicles don't require recharging via an electrical outlet.

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Benefits of electric vehicles

Electric vehicles are getting more affordable, and there is a wide variety to choose from, making this an excellent moment to make the switch. In addition to that, they're wonderful for the environment, and they're a lot of fun to drive.

Listed below are some of the more noteworthy benefits.

Environment advantages

Complete electric automobiles produce no greenhouse gases, reducing local pollution. Even while the UK's electricity supply is far from carbon-free, more than half of it does originate from carbon-neutral sources (nuclear, wind, solar, hydro, and other renewables).

Economic advantages

Even though petrol and diesel cars may be cheaper to buy initially, the cost of operating a used electric car is far lower. Long-term savings can be achieved through road tax breaks, government grants, free entry into ultra-low emissions zones (ULEZs), and lower per-mile energy costs.

Driving advantages

One of the first things you'll notice if you take an electric vehicle for a test drive is how quiet and smooth it is. These cars are astonishingly fast, with even the most basic hatchbacks able to accelerate from zero to 62mph in less than 10 seconds.

Stability advantages

The research was done to see how electric and hybrid vehicles fared in their MOTs, and the results were positive. Between January 2016 and May 2021, our team processed official UK Government data on over 1.7 million MOT tests, and we found that the top 30 vehicles all had a pass percentage of 84% or greater.

What are the prices of electric vehicles?

Electric vehicles are becoming more and more affordable as time goes on. Here are some examples of what's available, starting with the used Renault Zoe.

Based on a three-year finance agreement, an APR of 7.9%, and a credit score of at least 700, the following prices provide an estimate.

Used Renault Zoe

Estimated price = £12,600

The approximate monthly finance cost is £387.27 when using HP and £251.73 when using the PCP mode of finance.

Used Smart EQ ForTwo/ForFour

Estimated price = £13,643

The approximate monthly finance cost is £419.33 when using HP and £272.57 when using the PCP mode of finance.

What are the requirements for ev car finance?

You may be eligible for electric car finance if you meet the following requirements:

  • You must be at least 21 years old.
  • You have spent the last three years in the country (the UK)
  • You possess a valid driver's licence issued by the United Kingdom.
  • You're employed full-time.
  • You have not been declared bankrupt by a court of law.
  • You can demonstrate that you can afford the payments.

Which documents are needed to get an electric car on finance?

If you are looking for car finance, getting all your paperwork in order will help you move the process forward much faster. Typically, a driver's licence will suffice as proof of identity to prevent fraud. You may also be asked to prove your address in the form of providing a utility bill. After that, you may be asked to demonstrate your ability to repay the loan to avoid financial hardship. Bank statements or payslips are commonly used to access this information.

But don't worry; our experts will lead you through every step, so you won't have to worry about which documents you need.

Apply for your electric car finance with Carplus!

We at Carplus are committed to providing you with low-rate car finance deals. We can help you locate the best finance package for your circumstances while still allowing you to choose the vehicle of your dreams. A member of our staff is available to assist you in dealing with lenders and dealers and to ensure that the transaction goes as smoothly as possible. When it comes to electric car finance, Carplus offers several advantages, including:

  • No-deposit electric vehicle options
  • Electric car deals from a reputable dealer
  • Personal finance specialist available round the clock
  • Team of Certified Automotive Finance Specialists
  • Flexible choices and low rates
  • Great customer reviews
  • Finance options are also available for eco-friendly vans.

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Is it worth buying a used electric car?

Used electric cars can really be a good investment because they are less expensive than new ones and have a lower maintenance cost. Thus, they have lower depreciation rates than ordinary vehicles.

How long does it take to charge an electric car?

An electric car's charging time varies depending on the battery and charging station you use. It will take longer to charge a larger battery using a slower charger.

When the battery is completely drained, a 60kWh battery takes about 8 hours to recharge. A much faster charging option is available, either with a rapid charger installed at home or a rapid charging point.

How much do electric cars cost to charge?

The cost of charging an electric car is dependent on the vehicle and the location of the charging station.

On average, it should cost roughly £9.20 to charge with a 60-kWh battery for a 200-mile range at home. The majority of public charging stations are free, and rapid charging stations cost roughly £6.50 for a 30-minute charge.

How long do electric car batteries last?

According to current estimates, an electric car battery will last between 10 and 20 years before it needs to be changed.

How expensive is an electric car to insure and maintain?

An electric car's operational costs like insurance and maintenance are determined by its model, insurance provider, car manufacturer, wear and tear, and other features, just like the finance cost of a conventional vehicle. However, electricity is significantly less expensive than petrol or diesel, and electric vehicles require far less maintenance than internal combustion engines (ICE).