Financing an Electric Car in Ireland
Electric cars are becoming a more practical option for Irish motorists, with a growing choice of both new and used models at different price points. Improvements in driving range and charging infrastructure also mean there are more options to suit different types of journeys and lifestyles.
When working out your budget, look beyond the price of the car itself. Your current car's trade-in value and any available grants or incentives could reduce the amount you need, while insurance, tax and ongoing charging costs should also be considered. If you plan to charge at home, you may need to budget for installing a home charger too.
A Heritage Credit Union Green Loan can give you the flexibility to buy from a dealership or private seller while owning the car from the outset, without the mileage limits or end-of-contract conditions associated with some forms of dealer finance.
How Much Does an Electric Car Cost in Ireland?
Electric cars are now available across a broad range of price points, from smaller city cars and increasingly affordable second-hand EVs to larger family SUVs and premium models.
The amount you'll need to budget will depend on factors such as:
| Cost consideration | What to think about |
|---|---|
| New or used | A used EV can significantly reduce the initial purchase cost |
| Battery & range | Larger batteries and longer ranges can come at a higher price |
| Vehicle size | Compact EVs, family cars and SUVs can sit at very different price points |
| Specification | Technology, comfort and performance features can affect the price |
| Grant eligibility | Some new EVs may qualify for government support |
| Home charging | You may need to budget for installing a dedicated home charger |
| Running costs | Consider electricity, insurance, tax and servicing alongside the purchase price |
Are There Grants for Electric Cars in Ireland?
Government supports may be available towards the purchase of certain new battery electric vehicles, subject to eligibility criteria including the type and price of the vehicle.
Importantly, not every electric or electrified vehicle qualifies. Used electric cars and hybrid vehicles generally don't qualify for the new-EV purchase grant, even though they may still qualify for Heritage Credit Union's Green Loan.
There may also be separate support available towards installing an eligible home EV charger.
As grant amounts and eligibility criteria can change, check the latest government information before deciding on your budget.
How Much Can I Borrow for an Electric Car?
Maximum Loan Term :
6.11%
6.11%
6.11%
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.
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