Electric Vehicle Loans
Save money while bettering the environment.
Whether you're buying a new electric vehicle or refinancing a used one, our loan options will help you achieve your goals.
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Flexible Terms & higher loan limits
- Terms up to 96 months*
- Borrow up to 120% of the Purchase Price
- Request up to $2,000 in your loan to cover the installation of a charging station.
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Protect your purchase further
- GAP – Guaranteed Asset Protection
- Auto Insurance
- Credit Safeguard
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Benefits & Offers
- Environmentally friendly
- No payments for 90 days*
- NextMark offers an extra .25% discount for EV loans
- Federal government provides a tax credit of up to $7,500 for electric cars
Check out our rates.
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Term |
APR¹ as low as |
Approximate monthly payment² |
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Rates are effective as of 11/01/2023. Rates subject to change without notice. *Electric Vehicles must possess the Plug-In feature with an external charging source. This includes Electric Vehicles (EVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Electric Plug-in Motorcycles. ¹APR = Annual Percentage Rate. APR reflects a .25% discount with automatic payments from a NextMark checking account and a .25% discount for electric vehicles. Rates based on credit worthiness. ²For 36, 48, and 60 months, payment estimates based on a $15,000 auto loan. 72 month payment estimate based on minimum $20,000. 84 month payment estimate based on minimum $25,000. The 96 month term requires a $50,000 minimum loan balance. |
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Term 36 Months |
APR¹ as low as 5.34% |
Approximate monthly payment² $451.86 |
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Term 48 Months |
APR¹ as low as 5.64% |
Approximate monthly payment² $349.80 |
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Term 60 Months |
APR¹ as low as 5.64% |
Approximate monthly payment² $287.49 |
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Term 72 Months |
APR¹ as low as 6.04% |
Approximate monthly payment² $331.84 |
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Term 84 Months |
APR¹ as low as 6.74% |
Approximate monthly payment² $374.15 |
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Term 96 Months |
APR¹ as low as 7.74% |
Approximate monthly payment² $700.24 |
While you're at it...
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Our new virtual phone assistant is here.
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FAQs
An Electric Vehicle Loan (EV) is similar to a standard car loan but offers an additional 0.25% discount and more attractive terms. The application process is the same as financing other types of vehicles.
Electric Vehicles, often called green or clean-energy cars, possess a Plug-in feature powered by alternative fuels or technologies different from conventional vehicles that use gasoline. This includes Electric Vehicles (EVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Electric Plug-in Motorcycles.
According to Kelly Blue Book, the average price of an electric car in the United States is approximately $10,000 higher than standard vehicles. This is due to the advanced technology and components in electric cars.
Yes, the federal government provides a tax credit of up to $7,500 for electric cars and plug-in hybrid vehicles (PHEVs) produced by specific auto manufacturers. Some states also offer additional financial incentives.
For detailed information on IRS tax credits, visit the IRS website directly or consult a tax accountant for personalized guidance.
- Most Recent Paystub
- Photo ID
- Bill of Sale (Private sale)
- Title (Private sale)
- Purchase Order
- Auto Registration
- Ten-Day Payoff
- Vehicle Mileage
Disclosures
*First payment due no later than 90 days after loan funding. The interest accrues from the date the loan is disbursed and is divided into the amortized payments.