Hybrid Car Finance
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- PCP and HP from 8.9% APR
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Hybrid cars have become a popular choice for people looking for more environmentally friendly travel.
At CarMoney, we can help you find hybrid car finance at the best rates possible.
There are many different types of hybrid car. Whether you choose a self-charging hybrid, a plug-in hybrid or a mild hybrid, CarMoney will work hard to get you the right finance deal and begin your journey to eco-friendly travel.
Representative Example: Borrow £7,000 with £1,000 deposit over 48 months with a representative APR of 17.9%, monthly payment would be £171.83, with a total cost of credit of £2,247.83 and a total amount payable of £8,247.83. CarMoney Limited can introduce you to a limited number of finance providers based on your credit rating and we will receive a commission for such introductions this can either be a % of the amount borrowed or a flat fee. This does not influence the interest rate you’re offered in any way. CarMoney is a broker not a lender.
If you are thinking of buying a hybrid car, the first step is to look at the types of hybrid cars that are available.
A hybrid car, as the name suggests, is a vehicle that combines two or more power sources. Most commonly, this combines a fuel engine with an electric motor and a battery pack.
The purpose of this design is to utilise the strengths of both systems: the petrol engine for long-distance driving and the electric motor for efficient, low-speed travel.
Hybrid cars aim to achieve better fuel efficiency and reduce overall emissions compared to their solely petrol-powered counterparts.
Types of hybrid card include:
Full Hybrids: These vehicles can run solely on electricity at low speeds and use the petrol engine at higher speeds or when additional power is required. The Toyota Prius is a prime example of a full hybrid.
Plug-In Hybrids (PHEVs): These hybrids come with larger battery packs that can be charged through an external power source. This enables them to operate purely on electricity for a certain distance before the petrol engine kicks in. The Volvo XC60 is a notable plug-in hybrid.
Mild Hybrids: These hybrids have smaller electric motors that provide assistance to the petrol engine rather than propelling the car on their own. They offer modest improvements in fuel efficiency. Models like the Ford Puma fall into this category.
Self Charging Hybrids: Self charging hybrids feature a small petrol engine that generates electricity to power the electric motor once the battery is depleted. The Honda Civic self-charging hybrid is an example.
Options to buy a hybrid car
If you want to finance a hybrid car, the options are much the same as when you are buying a traditional petrol car. These are:
Hire Purchase: This is a simple and popular option. It involves hiring a vehicle from a finance company for an agreed time period. Once you have made the final payment, you will own the car outright. The lender can repossess the car if you miss payments.
Personal Contract Purchase: With PCP plans, you pay only the depreciation of the value of the vehicle rather than its full value. Monthly payments are generally lower, but if you would like to own the vehicle, you’ll have to pay a lump sum. The lender can repossess the car if you miss payments.
Saving with a hybrid car
You may also benefit from government grants to cover a portion of the cost of charging installation.
Hybrid cars offer an eco-friendly alternative to traditional vehicles, with the potential for long-term savings on fuel costs. When it comes to financing these vehicles, buyers have several options to choose from, each with its own advantages and considerations.
CarMoney is here to help you find the right finance for a hybrid car, slashing interest rates and reducing monthly payments.
Get a quote or contact CarMoney today.
Frequently Asked Questions
Is hybrid car finance different from traditional car finance?
Hybrid car finance is essentially the same as traditional car finance, but there are a few key differences. First, hybrid cars are typically more expensive than traditional gasoline-powered cars, so you may need to borrow more money to finance a hybrid car. Second, hybrid cars may have longer loan terms than traditional gasoline-powered cars, as lenders may be willing to offer longer terms to borrowers who are financing environmentally friendly vehicles. Finally, some lenders may offer special financing programs for hybrid cars, such as lower interest rates or cash back incentives.
What are the benefits of financing a hybrid car?
There are a number of benefits to financing a hybrid car, including: – Fuel savings: Hybrid cars are typically more fuel-efficient than traditional gasoline-powered cars, so you can save money on fuel costs over the life of the loan. – Environmental benefits: Hybrid cars produce fewer emissions than traditional gasoline-powered cars, so you can reduce your environmental impact by financing a hybrid car. – Tax breaks: In some countries, there are tax breaks available for the purchase of hybrid cars. This can help to offset the cost of the car and make it more affordable to finance.
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