RECENT ELECTRIC CAR FINANCE DEALS

We were delighted to welcome back a returning client  who was looking to arrange funding on  a 2023 Land Rover Discovery Sport P300e Plug-in Hybrid ,  a premium SUV that offers the perfect blend of luxury, practicality, and environmental consciousness. The Discovery Sport PHEV is an ideal choice for drivers who want to reduce emissions without compromising on performance or comfort.

The client chose to part exchange their current vehicle, which had positive equity, allowing them to use it as a deposit towards the Discovery Sport. This made for a smart and cost-effective route into their next vehicle.

To suit their requirement we arranged Land Rover finance by way of a Lease Purchase agreement. This structure included a final balloon payment, which helped keep the monthly payments lower and more manageable. While the balloon payment will remain the client’s responsibility at the end of the term, this approach offered an affordable path to ownership of a high-spec, low-emission vehicle.

What made the entire process even more convenient was the use of e-signature technology, allowing the client to complete all documentation quickly and securely online, from the comfort of their home.

If you are looking to move to a Hybrid or Electric vehicle give the team at Fast Car Finance a call to discuss your requirements in detail.

A forward-thinking company director, recently set his sights on the innovative Genesis GV60, a sleek, fully electric SUV that’s turning heads.

Initially, he approached the dealership to arrange funding, but they were unable to assist as he wanted to finance the car through his limited company. That’s where we stepped in.

Financing an electric vehicle (EV) through a limited company offers significant tax advantages, including lower Benefit in Kind (BIK) rates and potential savings on corporation tax. Our client was keen to unlock these benefits while making a positive environmental impact.

Driving electric isn’t just about saving on tax, it’s a lifestyle change that offers cleaner, quieter, and smoother journeys. With zero emissions, EVs are a smart choice for business owners who want to lower their carbon footprint and show environmental leadership. Plus, with advancements in battery technology, vehicles like the Genesis GV60 offer impressive ranges and rapid charging capabilities.

Having worked with us previously, the director knew we were the right team to help. We swiftly arranged a tailored Lease Purchase solution, and with all paperwork e-signed, the transaction was seamless, fast, and eco-friendly ,no need to print a single document.

We’re proud to help our clients not only drive their dream cars but also take advantage of the financial and environmental benefits of going electric.

If you are looking to purchase an electric vehicle, get in touch with the team at Fast Car Finance to discuss your funding requirement.

When a long-standing Fast Car Finance customer was looking to invest in a used electric vehicle (his first), he wanted to make sure he was structuring the car finance agreement in a way that he was maximising the tax benefit to his business, whilst at the same time ensuring the car finance repayments suited his financial budget.

We worked with the customer over a number of weeks offering him several EV car finance quotations until he found a suitable car. This busy Company Director wanted used EV car finance, concerned that a brand-new EV would leave him with a sizeable depreciation issue, something he did not want to worry about later on when he came to sell it. By looking at several used luxury EV examples, we were able to advise on future values, with these arrived at by considering two key points.

1. Annual mileage
2. Intended ownership period

With our access to leading motor industry valuation software, we were able to provide accurate numbers with regards the maximum balloon payment for any given loan term and mileage. This in turn enabled the customer to work out the price of car and level of initial deposit needed to get to his target monthly finance payment.

Whether you are considering the purchase of a new or used electric vehicle we can help arrange electric vehicle car finance, to include both EV hire purchase and EV lease purchase.

Fast Car Finance – putting you in the driving seat

This company director was looking to upgrade his car. Already having a BMW i8, he knew he didn’t want to change make or model but just upgrade to a newer one.

Having financed his current car via his limited company, he wanted to do the same this this time. We can consider finance application in business or personal names. However, we always recommend speaking to your accountant or financial advisor to confirm the most suitable route. We approached the incumbent lender as they already knew the client and they quickly approved BMW finance, subject to settlement of the existing finance agreement.

The client wanted to part-exchange his old BMW i8, and this acted as his deposit for his new i8. By putting a final balloon payment on the agreement we were able to keep the monthly repayment within the client’s budget. Worth noting that the final balloon payment is not a guaranteed future value and is the client’s risk & responsibility.

If you are looking for BMW finance today, please contact us.

Having financed a number of cars with us previously, this returning client was looking to purchase a new Tesla.

Due to various sources of income, the client likes to work with a broker who knows him and can present his application in the correct format and save the client time. Many of our clients are in a similar situation with income from different businesses or split between salary and dividend. We are happy to work with client’s advisors to ensure we obtain the most up to date information like tax returns, P60s etc.

In this instance the client wanted to fund the car with as little deposit as possible. We were able to arrange a finance agreement over 48 months with the deposit being just one month’s payment up front. We also deferred some of the capital by putting a balloon payment at the end of the agreement, which had the effect of reducing the monthly repayment.

This client’s accountant recommended he contacted Fast Car Finance for Tesla finance rates. We had worked with this accountant before and he knew that we could arrange an excellent Tesla financing rate for his client who was looking to purchase a Tesla Model X through his company to help reduce his corporation tax bill.

As a new car, not only did the client benefit from a great Tesla finance deal, he could take advantage of the generous 100% first year tax allowances that are currently offered on electric cars.

This client runs a domiciliary care business and he wanted Tesla finance for the car which was for his personal use. Together with the client and the accountant, Fast Car Finance put together a bespoke funding arrangement to suit the company cash-flow. As the business would own the asset, they were able to benefit from the 100% first year allowance. We organised a five-year Hire Purchase loan with fixed Tesla monthly payments over the term.

The directors of this Midlands-based manufacturing business enjoy their exotic cars, so when they wanted to purchase a Tesla Model 3 Performance through their business, they knew Fast Car Finance would be able to arrange the best Tesla financing rates.

The £60,240 purchase price was financed on Lease Purchase over a four-year term with a final balloon payment of £25,000 due at the end. By structuring the Tesla finance payments in this way, the lump sum payment at the end of the term allowed the client to benefit from lower repayments over the term of the loan, with the added flexibility of  refinancing the £25,000 as they need to.

Structuring the Tesla financing rates in this way allowed the business to benefit from the generous 100% first year tax allowances that are available on all electric cars, including Tesla Model 3 Performance. With Tesla finance transactions going through the business name, the client could make a substantial saving against their next corporation tax bill.

Electric car finance is still in its infancy and many car finance companies shy away from this new technology. Not so the team at Fast Car Finance and when this entrepreneur was referred to us via his business bank manager, we were only too happy to assist.

Having placed an order for a new Tesla Model X, the customer wanted to finance the car through his Limited Company in order to take advantage of the generous tax allowances that electric cars offer (the car qualifies for a 100% first year allowance enabling the customer to substantially reduce his corporation tax). Fast Car Finance are specialist car finance brokers with a niche in the high value end of the market. We quickly secured the customer a 5-year Hire Purchase agreement at a competitive rate of interest.

We can arrange finance for any make or model of electric vehicle including Tesla. If you are considering the purchase of an EV (electric vehicle) then please get in touch with us

Did you know that Fast Car Finance can arrange luxury and prestige car finance for diesel, petrol and EV’s for both business and personal customers? Call us today on 0333 12 12 400 to discover more.