Electric Vehicle Charging Finance

Finance Your Electric Vehicle Charger

Electric vehicle charging allows businesses to provide electric vehicle chargers at the workplace, promoting sustainability and having charging options in a convenient area for employees.

The method of financing chosen for electric vehicle charging on factors including your cash flow and business structure.

Electric vehicle (EV) charging finance enables businesses to invest in ‘green’ assets, save money, and encourages businesses to move to a sustainable future.

What is electric vehicle charging finance?

Electric vehicle charging finance helps you acquire and install chargers by spreading the cost and providing an alternative to capital outlay. Whether as a staff perk or to help generate income, a variety of flexible arrangements and financial solutions are available.

In line with government targets, installing electric vehicle chargers across businesses nationally is crucial, with offers and grants offering financial incentives to reduce carbon footprint as well as the ability to uphold a reputation as an environmentally conscious company.

Our vehicle management team will be able to support you in any specific requirement you may have, whether that be from the financial structure or to the installation of the chargers.

Types of EV charging finance available

Hire purchase: This type of finance usually lasts up to seven years with an option at the end to own the asset(s) following a balloon payment. This protects your company’s capital for other business purposes and facilitates the purchase of environmentally friendly infrastructure without negatively affecting cash-flow and stability long-term.

Asset refinancing: This method of financing is ideal for businesses with high value assets on the balance sheet. Refinancing allows you to use the value in balance sheet asset by selling the asset to a lender, and then making fixed monthly payments over an agreed term. At the end of the term, you resume ownership on the asset.

How electric vehicle charging finance works

With electric vehicle charging finance, you pay a deposit, and then the subsequent amount is then paid through a series of monthly instalments up until the end of the contract. Whilst you won’t own the asset straight away, you can use it for your business purposes. Furthermore, you can choose the deposit amount and the repayment terms.

Is EV charging finance right for your business?

Electric vehicle charging finance is an ideal option for obtaining electric chargers for a business who has a sizeable fleet of electric vehicles. This helps promote an environmentally conscious business, and through using financial solutions including hire purchase and asset refinancing, the financing of an EV chargers can be tailored to your specifications.

EV charging finance also provides the tools to transition to electric vehicles if you run a fleet or to create a new revenue stream. You can also provide fringe benefits for staff by offering free or subsidised car charging at your workplace.

Applying for electric vehicle charging finance

Through our work with a variety of banks and lenders, MAF Finance Group can provide the high-quality and thorough finance solutions for your business.

If you would like to receive further information or get a quote, simply fill in the form and we will contact you. If you want to speak to someone directly you can call us on 0115 958 6872 and a member of our team will be happy to speak to you. Alternatively, email us at [email protected].