Car finance experts Car Loan 4U comments on Government plans to invest £37 million in electric vehicles

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The UK’s number one online car finance specialist Car loan 4U supports the Governments plan to increase the amount electric vehicles on the UK roads.

The British Government has acknowledged that there is a distinct shortage of electric vehicles on the roads of the UK and it has been partly blamed on the difficult access to electric vehicle charging points that would-be owners face.

The Government has announced that it will be contributing 75% towards the funding of electric vehicle charging stations, with tax payers funding the remaining 25%. The funds are set to be taken out of the £400 million grant funding pot which was ring-fenced for the initiative back in April 2011.

Car Loan 4U Co-Director, Ryan Dignan, comments:

“The future of the electric vehicle is vitally important for this country and the global climate in general. We help car buyers fund their dream cars every day of the week and we have made sure that car loans for electric vehicles are as easily accessible as car finance for petrol and diesel cars is.”

“The fact that the Government has stepped in to make electric vehicle charging points more readily accessible around the country is fantastic news and we hope to see electric vehicles become a more prominent site on the roads of the UK in years to come.”

Its costs approximately £1,000 to install a domestic electric vehicle charging station – meaning the Government would front the initial £750 with the driver paying £250.

Andreas Atkins, Head of Electric Vehicle Services at British Gas, said: “Having a viable public charging network is really important to the continued growth of EVs and the Government’s commitment to Plugged-in-Places is great news.”

Motorists looking to get their hands on a new or used electric vehicle may want to consider their car finance options and as leading car finance providers, Car Loan 4U can help provide expert advice.

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