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26th Jan 2022

Looking to upgrade to an electric car? Here’s 5 reasons to make the switch

Lovin' Media

Electric Car charging

If you’re thinking about switching to an electric or plug-in hybrid car, here are some of the reasons why it could be right for you…

From a reduced carbon footprint to some amazing savings, there are so many reasons why moving to a more environmentally-friendly vehicle could be really beneficial for you.

And to help you make the right choice, we’ve broken down some of the perks that can come with switching to an electric or plug-in hybrid vehicle, to help you decide if it’s the best option for you.

We’ve also put together some tips on how you can fund the changeover, including some helpful info on AIB’s Green Personal Loan.

So, with all that in mind, here’s what you need to know…

1. Reducing your impact on the environment

One of the biggest incentives for an electric vehicle is reducing your carbon footprint.

Electric cars produce none of the CO2 driving emissions associated with fossil-fuel cars, while plug-in hybrid vehicles produce significantly fewer emissions compared to cars that run completely on petrol or diesel.

So, if one of the biggest contributors to your own carbon footprint is your car, making the switch could really help you reduce your personal impact on the environment.

2. You could save some money

Depending on your circumstances, making the change could actually save you some cash. If you switch to a fully electric vehicle, you can say goodbye to petrol and diesel costs, plus charging your car at an at-home charging point could cost as little as €2 a night.

You may also be able to save some money on your motor tax and insurance costs with an electric car, which sounds like a pretty big bonus too.

3. You can take advantage of government grants to help you make the switch

One of the biggest obstacles people face with electric vehicles is that they can be more expensive than standard fossil-fuel cars. That’s why the SEAI is offering grants on electric cars, all of which you can view here. However, it’s worth noting that the grant for plug-in hybrids is no longer available as of January 2022.

The SEAI also has grants available to help with the cost of installing an at-home charging point for your electric vehicle, which will certainly make the whole process that bit more affordable.

4. You can get a loan to help cover the costs

If you are concerned about funding your switch to a more environmentally-friendly vehicle, we’ve got some good news…

AIB’s Green Personal Loan helps you to dream big in 2022 and fund your dream electric or plug-in hybrid vehicle. With an AIB Green Personal Loan, you can borrow anything from €3,000 to €60,000, and you can find out exactly how much you’re entitled to with their loan calculator HERE.

Offered with a lower rate of 6.40% APR (Annual Percentage Rate), the loan can also be used for installing an at-home charging point.

You can set a repayment schedule that suits you, with the option to pay it back weekly, fortnightly, or monthly. Plus, there are no penalties if you decide to make an extra repayment, or pay off your loan early. Ideal!

You can apply for an AIB Green Personal Loan HERE.

5. It might be a perfect fit for your lifestyle

There is a common misconception that EVs are only suitable for urban or city driving, but the technology has moved on considerably since they first became available. Electric cars can travel up to 500km on a single full charge, making a long journey like the one between Cork and Donegal, perfectly achievable.

If you’re a homeowner with your own driveway, you’re in the perfect position to install an at-home charging point too, making the switch even more hassle-free.

You can make your new car a sustainable choice, helping to reduce emissions and fight climate change. Find out more about AIB Green Personal Loans HERE.

Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland