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Electric Vehicles (EVs)

Electric vehicles (or EVs as they are sometimes known) are a type of car that do not require petrol to run. Instead, they solely rely on battery power.. They were once seen as a joke, recent improvements in technology, battery power and an increase in the availability of charging points has made this type of vehicle more viable as an option.

An electric vehicle is defined as a type of car that is powered solely by one or two electric motors. These electric engines can be powered externally, through charging points or mains electricity, or, in rarer instances, through a generator such as solar power.

Some of the first cars developed were powered solely by electricity. As the combustion engine took off in popularity and road infrastructure became better, the lack of range for electric vehicles meant that development concentrated on petrol engine vehicles.

It wasn’t until the nineties that development of electric vehicles began again in earnest. Growing concerns about the environment meant there was a commercial demand for car companies to start development. The fact that electric cars can be powered through sources unrelated to fossil fuels meant that they became an attractive option for those concerned about ‘peak oil’ or their carbon footprint.

Types Of Electric Vehicles

There are two main types of electric vehicle currently available on the market:

Hybrid vehicle – This is currently the most common type of electric vehicle. These cars have a petrol engine and an electric motor. This type of car uses its electric motor at low speeds and short distances, only using its petrol engine where more power is needed or the battery has drained. Hybrids often recharge their electric batteries when they are using petrol. Search for hybrid electric cars in the Creditplus car search.

PEV (plug-in electric vehicles) –This type of electric car solely uses an electric motor for power. Relying on charging at home or using publicly available charge points, electric vehicles are often limited by their battery life. Recent improvements in battery technology, means that the range of electric vehicles has improved dramatically over the last few years. Increased popularity also means that there are more charging points available than before. Search for plug-in electric cars in the Creditplus car search. 

Can You Finance An Electric Car?

Creditplus can provide finance for electric cars. Whether that is one found in our vehicle search or one you have found elsewhere, Creditplus can arrange the finance for your vehicle. Popular models that we provide finance for include the Toyota Prius, Nissan Leaf, BMW i3 and the Hyundai IONIQ.

There is no difference between financing an electric, hybrid or a regular vehicle. Electric cars are available on a variety of different car finance products, and are becoming increasingly popular as an alternative to petrol and diesel engine cars. With environmental issues and running costs as a consideration, choosing an electric car is an excellent way to save money and lessen your environmental impact.

If you are thinking about buying an electric car and would like to know what finance options are available, apply for car finance with Creditplus for a no obligation quote and an instant online decision on your options.

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