Spaargids.beBanks are encouraged to direct their loans towards environmentally friendly investments. So they make it somewhat cheaper to borrow to buy an electric car than to finance a car with a combustion engine (gasoline or diesel). Buyer benefits. Spaargids.be floods.
By Johan Van Geyte, in association with Spaargids.be
Last updated:
09:36
source:
Spaargids.be
Tangible discounts and savings
The discount that a buyer of a new, less polluting car or a recent used car gets if they want to get financing for their purchase is usually around 0.10 to 0.20%, although the spread can sometimes be higher.
Let’s take the situation in the four largest banks in our country * as an example:
• bee BNP Paribas Fortis You can borrow at 3.75% for an electric car or plug-in hybrid car with a maximum CO2 emissions limit of 50 grams per kilometre. For a car with a classic combustion engine, it is 3.95%.
• bee Belvius It is the greenest vehicle installment loan at 3.89% in the list price; For other cars it is 4.09%.
• bee KBC The interest rate for an environmentally friendly car is 3.99%; for other vehicles 4.19%.
• However a job You’d cough up 4.34% for an eco car, where it’s 4.74% for a car with a classic combustion engine.
*These figures are based on the situation at the beginning of May 2023.
What does this mean in cents?
For a €20,000 loan that you pay back in five years, you have to pay €367.25 each time at an interest rate of 3.95% for a period of 60 months. Thereafter, you will receive interest of up to €2,035.00 plus €20,000 of paid-in principal.
If the interest rate drops to 3.75%, the monthly installment drops to 365.51€ and the total interest bill drops to 1,930.60€. That’s a difference of just over 100 euros. This difference is higher in some banks.
Which of the three?
Classic financing in the bank, a loan via the car manufacturer, or a “private lease”: List the advantages and disadvantages.
Also fund the charging station
Anyone buying a new electric car usually has the option of co-financing their own charging station at the same rate as the car loan.
For example, you can borrow up to 110% of a car’s value from KBC. At BNP Paribas Fortis and Belfius it reaches 120%. You can also finance your electric car charging station at ING.
The cheapest offer
If you want to get the most out of it, it’s a good idea – as always – to make enough comparisons, both in big and small banks. After all, the latter also presents blunt(er) conditions on a regular basis.
Therefore, Spaargids.be always keeps an updated overview of the cheapest car loans. You can refer to this – free of charge and without obligation – via the box below.
This article was brought to you by our partner Spaargids.be.
Spaargids.be is an independent comparator of bank products and looks for competitive pricing and better interest rates.
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