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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. 
  • Girl plugging in her electric car

    Protect your purchase further

  • Girl plugging in her Tesla

    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.

New and Used Electric Vehicle* Loans

Term

APR¹ as low as

Approximate monthly payment²

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.

Term

36 Months

APR¹ as low as

5.34%

Approximate monthly payment²

$451.86

Term

48 Months

APR¹ as low as

5.64%

Approximate monthly payment²

$349.80

Term

60 Months

APR¹ as low as

5.64%

Approximate monthly payment²

$287.49

Term

72 Months

APR¹ as low as

6.04%

Approximate monthly payment²

$331.84

Term

84 Months

APR¹ as low as

6.74%

Approximate monthly payment²

$374.15

Term

96 Months

APR¹ as low as

7.74%

Approximate monthly payment²

$700.24

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Expert at helping you go to the distance.

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
Got questions? Contact us ≫

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.

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