Financial information website explores EV lending options

Financial information website, Banked, has published a new resource detailing the best ways that Kiwi consumers can fund the purchase of an electric or hybrid vehicle.

It explains what consumers can expect from an ‘EV loan’, including what they cover, the criteria for these, and how they differ from standard car lending.

The guide to EV loans also explores how low-rate ‘green energy’ mortgage top-up loans from banks including ANZ and ASB can be used to purchase an EV.

“Kiwis are embracing electric vehicles thanks to their lower emissions, better running costs, and the government’s Clean Car Discount scheme,” says Banked’s head of publishing Kevin McHugh.

“But getting the best deal on an EV or hybrid is not necessarily the same as it is with a petrol or diesel vehicle. There are some unique EV finance options out there, with interest rates as low as 1% for consumers who meet the relevant criteria.

“The latest Banked guide lays out each of these options in one place, looks at exactly how they can be used (and by whom), and gives Kiwis the information they need to make the right choice for their EV purchase,” he says.

Click here for more information.