As Ireland accelerates its transition to electric driving, understanding the different ways to purchase an electric vehicle has never been more important. From PCP and HP finance to leasing and an expanding used market, there’s now a path to suit every budget and lifestyle. Exploring these options helps drivers balance upfront costs with long-term savings, avoid unexpected surprises, and make confident, informed choices. With guidance from our Nevo experts, EV ownership is becoming more affordable and accessible - paving the way for Ireland’s shift to cleaner transport.

Finance: PCP and HP

For many Irish drivers, finance is the most common entry point to EV ownership. Bank of Ireland offers competitive EV finance with fixed-rate Hire Purchase from 5.85% APR, extended terms of up to six years, and PCP options through dealer networks. Exclusive partnerships with brands like Ford, BYD, and XPENG mean tailored packages are readily available.

Personal Contract Plans (PCPs) allow drivers to enjoy lower monthly payments with the flexibility to trade in or buy the car outright at the end of the term. Hire Purchase (HP), on the other hand, is a straightforward way to spread the cost until the car is fully owned. Both options make higher-priced EVs more accessible, enabling drivers to match repayments to their budgets while benefiting from lower running costs from day one. It’s no surprise that demand is soaring, with EV finance applications nearly doubling year-on-year.

Leasing

Leasing is rapidly gaining traction as a hassle-free way to drive an EV without committing to long-term ownership. A fixed monthly fee gives drivers access to a new electric vehicle, often with servicing and maintenance included. At the end of the lease, the car is simply returned and replaced with the latest model.

For businesses and fleets, leasing delivers tax advantages and supports sustainability targets. For individuals, it offers flexibility and the peace of mind that comes with driving cutting-edge technology, without worrying about depreciation or resale value.

Buying Used

Ireland’s used EV market is expanding quickly, opening up exciting opportunities for cost-conscious buyers. From compact city cars to family SUVs, a growing selection of second-hand electric models is available at prices well below new. Many even retain their manufacturer battery warranties, offering added reassurance.

With fewer moving parts and lower maintenance costs than petrol or diesel cars, used EVs often prove more reliable too. Strong demand is keeping residual values healthy, making used EVs a smart and increasingly popular choice. Buyers just need to check battery health and service history before committing.

Making the Transition More Accessible

While the idea of switching to an EV can feel daunting, the reality is that a mix of financial products, incentives, and wider model choice is making the transition easier than ever. Running costs are already compelling, electricity is cheaper than petrol or diesel, and servicing costs are typically lower.

Ireland’s public charging network continues to grow, while grants for home chargers remain available. With more affordable models arriving on the market and flexible purchasing routes like PCP, HP, leasing, and used options, EV ownership is moving from niche to mainstream.

Discover Your Options at the Nevo Show

The Nevo Electric Vehicle Show in partnership with Bank of Ireland, returns to the RDS Dublin this November. It’s the ultimate place to explore every purchasing route in one setting. Visitors can see the latest electric models, speak directly with finance providers and connect with energy experts.

Live demonstrations, test drives, and expert panels will tackle practical questions on costs, grants, and ownership. Whether you’re considering a new or used EV, or weighing up your purchasing options, the Nevo EV Show offers the chance to explore the full range of possibilities and make the switch with confidence - We look forward to welcoming you on Saturday, November 7th and 8th.