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)
*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 (financing the car partly with savings and partly with a loan). We’re happy to explain all the details:
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.
Your options will depend on your financial situation and preferences.
Fixed-rate car loan
The interest rate on your car loan never changes. That means you are sure to repay the same amount every month for the full term of your car loan.
When you take out your car loan, you also get a breakdown of the monthly repayments for the full term of your loan. That way, you know how much you've already paid off at any time.
Car loan simulation: calculator
If you know how much you want to borrow, you can easily work out your monthly repayments with our car loan calculator.
The amount you repay each month depends on the amount borrowed 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 guidelines to choosing the best repayment plan for you.
Which type of electric car?
Thinking about buying an ecological car? Great! It's a good idea then to carefully weigh up the pros and cons of each engine type before you decide. We’ve set them out for you below.
| Pros | Cons | |
| 100% electric |
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| Electric + range extender |
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| Plug-in hybrid |
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Should you borrow from your bank or get an interest-free* loan from your car dealer?
During promotional periods, car dealers advertise interest-free car loans. It might seems like a dream deal at first glance, but there may be a catch or two: perhaps there’s no extended warranty, it turns out you have to pay extra processing fees, or you may not be able to negotiate any other discounts. That’s why you should always look at the other terms and conditions rather than just comparing interest rates. You can read about how to do that in the article below:
*Consider this example before buying a car with an interest-free loan
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.
More info about car loans
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.
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
