Looking to borrow for your electric car?
- Calculate your loan at our sharp rate
- Borrow up to 110% of the cost of the vehicle and finance the purchase of your charging station too
- Work out and apply for your loan online (even if you’re not a customer with us)
Our KBC Touch and KBC Mobile apps let you easily work out and apply for your car loan. You get the same low interest rate as you would at our branches.
*Representative example
Want to switch to an electric vehicle and do your bit for a better world? That’s great! The KBC Car Loan for electric vehicles might be for you.
Whether you’re looking to keep your savings buffer intact, you’re paying too much for your current car or you want to spread out the purchase costs of your electric vehicle, KBC has the solution for you.
Full or partial financing for your car
You’ve made up your mind: you’re going for an electric car. But how will you finance the purchase? There are several options available: you can pay the full amount with your savings, opt for full financing, or use a combination of both. We’re happy to explain all the differences:
Partial financing: one approach is to sell your previous car, and use that money to partly cover the cost of your new car. You can then borrow the remaining amount you need.
Full financing: if you’d prefer not to use that money or you’d like to spread out your payments, you can: it’s possible to pay for your new electric car with full financing, which covers the total purchase price including VAT.
As you can see, there’s always a solution to suit your financial situation and preferences.
Fixed-rate car loan
The interest rate on your car loan never changes. That means you can be absolutely certain your monthly repayments will remain the same for the entire term of the loan.
When you take out your car loan, you’ll also receive a schedule showing how much you pay each month during the full term of the loan. That way, you know how much you've already paid off at any given time.
Crunch the numbers with our car loan calculator
If you know how much you need to borrow, you can work out the monthly payments on your loan using our calculator. The amount you repay each month depends on how much you want to borrow and the period over which you wish to repay the loan.
If you need help working out what period to repay the loan over, see our guide to choosing the best repayment plan for you.
Which type of electric car?
You’ve now decided you want to go electric and know how you want to finance the car, but how do you go about finding what’s right for you? To help you make up your mind, we’ve set out the pros and cons of each type of electric car below:
| Pros | Cons | |
| 100% electric |
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| Electric + range extender |
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| Plug-in hybrid |
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Learn more about borrowing for a car
The term that's right for you depends on how much you want to borrow and amount you can spare every month. The longer the term, the lower the monthly repayment and the easier it will be for you to repay the loan. If you borrow for a shorter term, you have to repay more each month, but the loan will be paid off faster and as a consequence, you pay less interest. At KBC, you can choose the term yourself.
There are a few legal constraints that apply to the term of a loan These are automatically built into the loan calculator.
| Amount borrowed (in euros) |
Maximum term (in months) |
|---|---|
| Up to 2,500 | 24 |
| Up to 3,700 | 30 |
| Up to 5,600 | 36 |
| Up to 7,500 | 42 |
| Up to 10,000 | 48 |
| Up to 15,000 | 60 |
| Up to 50,000 |
72 |
Vehicles quickly lose value, so KBC recommends keeping the term of your loan as short as possible. New drivers often haven't taken out any other loans, but are statistically more likely to incur claims or even a write-off. If that happens, bear in mind that you'll no longer have a car, but the loan repayments will continue. You can limit that risk with comprehensive insurance offered by KBC.
If you prove your actual professional costs, you can claim the interest on your car loan against your tax.
You’re paid your car loan
- When the car is delivered
- After KBC receives the relevant signed documents and proof of investment (invoice or order form)
- To the account from which your monthly repayments will also be made
The repayment of your car loan starts one month after the loan amount is paid to you. All subsequent repayments are made on the same day of the month as the initial repayment.
Example of repayment times
If KBC makes the amount of your loan available on 25 March, you start repaying your loan on 25 April. All subsequent repayments will always be due on the 25th day of the month.
Repayment account
Already have a current account with KBC? Then you can repay the loan through that account, if you hold that account solely or jointly in your name.
The repayment account is the same as the one to which the car loan is paid.
No account with KBC? Repayments can also be made by direct debit from your account with another financial institution.
If you see a dealer offering an interest-free car loan, pay close attention to the terms and conditions – you often have to pay a higher deposit or you’re restricted to a limited range of models. Read the article below to learn the best way to critically examine the fine print. The clear rate and transparent terms of a car loan with KBC mean you immediately know where you stand.
Example:
The cost of a new car can easily reach 20 000 euros. If you take out a loan at an interest rate of 3.65% to buy it, you’ll pay 698 euros in interest over 36 months, which means you’ll save 698 euros if you opt for interest-free loan. But as mentioned above, the chances of getting any additional discounts are slim. You should definitely look into this, because dealers often offer discounts of 3 to 19%. In this example, that would amount to a discount of between 600 and 3 800 euros. In other words, you may be saving money when you opt for a standard car loan.
We’ll be happy to help you. Go to our web page on selling your car to find a list of tips and things to bear in mind, including a sales contract model for your vehicle.
Did you know it's easy to calculate and apply for your car loan in KBC Touch or KBC Mobile? You get the same low interest rate as you would at our branches
