Finance Your electric future
Rates from 9.9% APR. Representative APR 19.2%. Smooth Car Finance is a credit broker, not a lender.
Affordable payments for your dream EV
Electric car finance: Drive green and save money
Looking to make the switch to an electric car? Financing an electric vehicle (EV) is a smart and affordable way to enjoy the benefits of eco-friendly driving without the upfront cost. With a range of flexible finance options, getting an electric car on finance has never been easier.
How does electric car finance work?
Electric car finance allows you to spread the cost of a new or used EV over monthly payments. Instead of paying the full amount upfront, you can drive an electric car while paying in manageable instalments over a set term.
What is the best way to finance an electric car?
Hire Purchase is a straightforward option where you:
- Pay a deposit upfront (usually 10-20%).
- Make fixed monthly payments over an agreed term (1-5 years).
- Own the car outright at the end of the agreement.
Best for: Drivers who want to own their electric car at the end of the finance term.
2. Personal contract purchase (PCP)
With PCP, you:
- Pay lower monthly payments.
- Have three end-of-term options: keep the car, return it, or trade it in.
Best for: Drivers who want flexibility at the end of the finance agreement and enjoy upgrading to newer EV models regularly.
Benefits of financing an electric car
- Affordability: Spread the cost of your EV over time with manageable monthly payments.
- Access to newer models: Upgrade to the latest electric car technology without the high upfront expense.
- Lower running costs: Save on fuel and maintenance costs compared to traditional petrol or diesel cars.
- Government incentives: Benefit from grants or tax savings for electric car buyers (subject to availability in your region).
- Environmentally friendly: Reduce your carbon footprint by switching to a cleaner, greener vehicle.
Are electric cars ULEZ-Compliant?
The Ultra Low Emission Zone (ULEZ) is designed to improve air quality by charging vehicles that don’t meet strict emission standards. Electric cars are fully ULEZ-compliant because they produce no harmful emissions, meaning you can drive freely in designated zones without incurring extra costs.
Key Benefits of ULEZ Compliance with Electric Cars
- Save money: Avoid daily ULEZ charges, which can add up for non-compliant vehicles.
- Eco-friendly: Reduce air pollution in urban areas, contributing to cleaner cities.
- Access everywhere: Drive confidently in ULEZ zones like London without restrictions.
Can I get electric car finance with bad credit?
Let's face it, unexpected events can throw your credit score for a loop. But that shouldn't hold you back from getting the car you need. At Smooth Car Finance, we specialise in helping people with bad credit secure smooth and affordable car finance.
Here's the good news:
- We will do everything we can to help find you a deal you're eligible for. We understand that bad credit doesn't define you, and we work with a variety of lenders who offer options for all credit situations
- Our pre-approval process is quick, easy and transparent. Letting you know where you stand upfront and we won't run a hard credit check until your proceed with your quote.
- We aim to offer flexible options. With a variety of loan terms and down payment options, we can tailor a plan that fits your budget and credit history.
What do I need to apply for car financing?
To make an application for car finance, we need very little data:
- Full name and driving licence
- Employment details
- Residential status and address
- Mobile number and email address
You have to be between 18 and 75 years old, be a UK resident for at least 12 months, and receive a monthly income of at least £1,000.
Why should I use Smooth Car Finance?
At Smooth Car Finance, we make it easy to finance the electric car of your dreams.
- Flexible finance options: Hire purchase, PCP and no deposit deals.
- Affordable deals: Competitive rates tailored to your budget.
- Expert guidance: We’ll help you choose the perfect EV and finance plan.
Have you got approved?
A dedicated account manager will guide you through the next steps, answer your questions, and help you find the perfect car to fit your needs.
Already have a car in mind?
No problem. Let us know and we'll aim to expedite the loan application.
Need more info before you get started?
We're here to help! Just contact us today.
Car finance loan calculator
*Please note that if you proceed with your quote, a hard credit check will be performed, which may affect your credit score.
Representative example: borrowing £6,500 over 5 years with a representative APR of 19.9%, an annual interest rate of 19.9% (Fixed) and a deposit of £0.00, the amount payable would be £166.07 per month, with a total cost of credit of £3,464.37 and a total amount payable of £9,964.37. We compare multiple lenders to help find the best rate available from our panel and offer you the best deal you're eligible for. We earn a fixed or percentage-based commission on the finance agreement, which will not affect your interest rate or total repayment amount. The full commission details will be provided in the commission disclosure document before proceeding with the finance agreement.
HOW IT WORKS
Our Process Is Simple...
Tired of complicated, time-consuming finance processes? We make it quick and straightforward with our three-step approach:
Apply and get approved
Approval takes just minutes. Complete our simple online application, we’ll instantly compare rates and aim to find the best deal for you.
Choose your car from any dealer
Whether you’ve already found your dream car or need help sourcing it, we’ll manage everything for you, from dealer communication to thorough vehicle checks, ensuring a seamless buying experience.
Hit the road in no time
Once the paperwork is sorted, it’s time to collect (or have delivered) your new car. Getting behind the wheel has never been easier.
Frequently Asked Questions
What are the benefits of financing an electric car?
Financing an electric car makes it affordable to access cutting-edge, eco-friendly technology. It allows you to spread the cost over manageable monthly payments, avoid the high upfront costs, and potentially benefit from lower running costs compared to petrol or diesel vehicles.
Are electric cars eligible for government grants or incentives?
Yes, many electric cars are eligible for grants and tax savings (subject to availability in your area). These incentives help reduce the upfront cost of purchasing an electric vehicle.
Are electric cars ULEZ-compliant?
Yes, electric cars are fully ULEZ-compliant because they produce zero harmful emissions. This means you can drive in ULEZ zones like London without worrying about extra charges.
Can I choose any electric car to finance?
Yes, you can choose any electric car from any dealer, whether it's new or used. We’ll help you secure the best finance deal for the car of your choice.
Do I need to make a deposit to finance an electric car?
For Hire Purchase (HP), a deposit of 10-20% is usually required. If you opt for Personal Contract Purchase (PCP), a deposit may also apply but can vary based on the finance terms.