Considering An Electric Car? We Can Help With Car Finance!

A white electric vehicle charging.

21 Dec Considering An Electric Car? We Can Help With Car Finance!

Electric vehicles (EVs) are revolutionising the automotive industry, offering a cleaner and more sustainable alternative to traditional petrol and diesel-powered cars. In New Zealand, the popularity of EVs is on the rise, driven by environmental consciousness, government incentives, and the rising cost of fuel. If you’re considering switching to an electric vehicle, here’s some help to make your transition smoother. In this guide you’ll find the reasons why it could make sense to switch to an EV, and how to secure car loans for electric vehicles.

Reasons to consider an EV

  1. Environmental benefits

One of the most compelling reasons to switch to an electric vehicle is the positive impact it has on the environment. Unlike internal combustion engine vehicles, EVs emit around 80% less CO2 than an equivalent petrol vehicle, because electricity generated in New Zealand is typically at least 80% renewable. By driving an electric car, you’re contributing to reduced air pollution and lower greenhouse gas emissions.

  1. Lower operating costs

Electricity is generally cheaper than petrol or diesel, which makes the cost of running an electric vehicle significantly lower. According to GENLESS, charging your EV at home during off-peak is like buying petrol at around 40c/litre, depending on your electricity retailer. Additionally, EVs have fewer moving parts, which can help reduce maintenance costs over the long run. With fewer oil changes and no need for complex exhaust systems, you’ll notice substantial savings when it comes to servicing your EV.

  1. Convenience

Charging an EV at home couldn’t be easier, as EV’s can be plugged into any power point, both indoors and outdoors, in any weather. For longer trips, there are public chargers in most towns on the state highway network, so you’re almost never too far from your next charge. And with demand for EVs growing, New Zealand’s charging network is building all the time, with greater focus on covering major routes and increasing the numbers available.

  1. Government incentives

The Climate Change Commission has recommended phasing out imports of fossil-fuelled cars by no later than 2035, and Government has introduced cost-saving discounts aimed at incentivising more Kiwis into buying EVs. The Clean Car Discount can be applied when buying eligible new or used EV’s and plug-in hybrid imports in New Zealand.

Getting car loans for electric vehicles

When it comes to car finance for electric vehicles, working with a Personal Lending Adviser from Max Loans makes sense for a number of reasons:

  • We can help you find the most suitable car finance: Because our team works with a wide range of car finance providers, we can provide you with the most suitable car loan option for an EV at the best possible rate. Alternatively, if you are a homeowner, our experienced Mortgage Advisers at Max Mortgages can work with you to help increase your home loan to fund your EV purchase.
  • We can help you get pre-approved car finance: With pre-approved car loans, you’ll know in advance how much you can borrow and how much you can spend when you’re out shopping for a new car.
  • We may be able to help even if you have bad credit: Whatever’s holding back your car loans application, we might be able to find a car finance solution with bad credit loans that can actually help improve your credit score over time.
  • Get car insurance advice from the specialist team at Max Insurances: Work with an Insurance Adviser to find the desired NZ insurance at the right price, so you’re not left covering the costs should something happen to your EV.

A smart move to EV

Switching to an electric vehicle can be a smart move for both the environment and your wallet. Armed with the right information and assistance, it’s possible to make a smooth transition from petrol or diesel to electric.

At Max Loans, our team of Personal Lending Advisers are dedicated to helping you get car finance for your electric vehicle and providing you with expert guidance every step of the way. Contact Max Loans today for NZ loans enquiries and get the finance for your EV and join the electric revolution on New Zealand’s roads!

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