Everything you need to know about moving to electric vehicles
31 October 2025
Interest in electric cars has surged across Ireland in recent years. From reduced running costs to environmental benefits, electric vehicles (EV) are becoming a smarter choice for Irish drivers. With several financing options like car loans and personal contract plans available on the market, it is key to understand how each one works, figure out which suits your budget best, and consider any grants that could help make switching to electric driving more affordable.
Why consider an electric car in Ireland?
Electric cars are now part of everyday life on Irish roads. The Government’s push towards greener transport, combined with wider EV availability, means there’s never been a better time to make the switch.
Here are some of the reasons you should consider going electric:
- Lower running costs: Powering an electric vehicle costs significantly less than filling up with petrol or diesel. In fact, charging an EV is, on average, 74% less expensive than refuelling a new diesel car.*
- Reduced maintenance: Fewer moving parts mean fewer repairs and lower maintenance bills.
- Environmental benefits: Driving electric significantly cuts carbon emissions and reduces pollution.
- Government incentives: Customers can receive a grant from the Sustainable Energy Authority of Ireland (SEAI) for wholly electric vehicles and electric vehicle home charger units.
Understanding Electric Vehicle finance options
When it comes to electric vehicle finance in Ireland, you have two main options: an EV loan or a PCP (Personal Contract Plan). Choosing the right one depends on your circumstances, how long you plan to keep the car, and how flexible you want your payments to be.
Personal Contract Plan vs EV Loan: Which is better for an electric vehicle?
PCP (Personal Contract Plan) is a type of car finance often promoted by dealerships. While it can look appealing at first because of the lower monthly costs, there are some important drawbacks to consider when compared to a car loan.
| Feature | Car Loan | PCP |
|---|---|---|
| Ownership | You own your car outright from day one | You don’t own the car until the final payment |
| Flexibility | Full freedom to sell, trade in, or keep the car whenever you want | Limited flexibility, penalties apply for ending early or exceeding mileage |
| Usage | Unlimited mileage | Mileage and condition limits apply |
| End of term | Car is fully yours once loan is repaid | Choose between paying the lump sum, returning or refinancing the car |
| Transparency | Simple, straightforward borrowing | Complex terms that can make it hard to know the true cost of ownership |
By comparison, a car loan gives you far greater control. With options like the An Post Money Electric Vehicle Loan, you own the car from day one, make fixed monthly repayments so no surprises at the end of the term. Explore the lowest fixed rates on electric vehicle loans from 6.3% APR (Annual Percentage Rate) over €20,000* available for electric vehicles and plug-in hybrids, including second-hand, up to 3 years old.
Tips for applying for electric car finance in Ireland
Before you decide on the best person for financing your car, here are some useful tips:
- Check your credit report: A healthy credit record can help you secure better rates.
- Decide your budget: Include costs like insurance, servicing, and charging.
- Compare finance options: Look at total cost of credit, not just monthly payments.
- Apply online for convenience: You can apply for the our Electric Vehicle Loan in just a few minutes and get a quick decision.
- Check available grants: Don’t forget to factor in the electric vehicle grants which may help to reduce your upfront cost.
Switching to an electric vehicle can save you money in the long run, reduce your carbon footprint, and give you a smoother driving experience. With options like PCP, EV loans, plus Government grants for electric vehicles, it’s easier than ever to make the move to electric.
Ready to make the switch to electric?
Discover flexible finance options designed to help you own your electric car with confidence.
Frequently asked questions
Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire-purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.
**Lending criteria, terms and conditions apply. Rates and loan terms are correct as of 14th October 2025 and are subject to change. Source: CCPC.ie. Rate is dependent on your financial profile and credit history.
On a €20,000 loan over 5 years, at a fixed rate of 6.1% (6.3% Annual Percentage Rate) you will pay €387.59 a month. The total cost of credit would be €3,255.20 and the total amount repayable would be €23,255.20.
An Post acts as a credit intermediary on behalf of Bankinter S.A., who provide loan and credit card services and facilities. An Post trading as An Post Money is authorised as a credit intermediary by the CCPC.
Bankinter S.A., trading as Avant Money, is authorised by the Banco de España in Spain and is regulated by the Central Bank of Ireland for conduct of business rules.