The Future’s Electric | Savvi Credit Union
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on 23 May 2019 10:50 AM

Lower fuel, lower emissions, longer range and greater choice means that Electric Vehicles are now coming into their own!

At Savvi, we share the same vision as our ESB partners to help do our bit for the environment. We are currently offering a special Electric Vehicle loan rate of just 5.5% (p.a. fixed). If you’ve been considering going green when it comes to your car, get in touch today to see how we can help.

Electric Vehicles in Ireland. 

Savvi originally started as the credit union for the staff of ESB, an institution that has brought light and energy into the homes and lives of millions of people on the island of Ireland. How we use this energy is evolving and becoming greener. 
 
As one of the early adopters of electric vehicles, ESB established ‘ecars’ in 2010 to roll out the charging infrastructure for electric vehicles (EV’s) and to support the introduction and demand for EV’s nationally. Car pollutants are the fastest growing source of greenhouse gas emissions in Ireland. In addition to this, particulate emissions, especially from diesel vehicles (and wood burning) are being linked to more and more health conditions every year.
 
Electric Vehicles are a way of reducing these threats and helping to build a healthier environment. To encourage us all to consider electric when it comes to our next car, ESB have provided some answers and myth busters!

Aren’t EV’s expensive?

Prices are expected to be equal between 2022-2025 and with lower fuel & maintenance costs, the lifetime cost is often lower.

Don’t EV’s emit as much as diesels because electricity generators emit CO2?

An EV emits less than half as much as a diesel even with today’s mix of electricity generation sources. This will only improve as more renewable electricity is added.

Isn’t a self-charging hybrid better?

A ‘self-charging’ hybrid is a petrol-powered car that uses a battery and electric motor internally. It is still a fossil fuel car, although a more efficient one.

Isn’t diesel still better for high mileages?

No. If current EV range is a concern, petrol hybrid cars are very efficient and can cost less than diesel to run. Also you are keeping the air cleaner than with a diesel. If you go for a plug-in hybrid, you could run your car from electricity for most journeys and only need petrol for longer trips.
 
Our Electric Car Loan

Representative Example:

Representative example: €25,000 loan payable over 5 years. Rate of interest 5.5% per annum fixed. APR (Annual Percentage Rate) 5.65% 60 monthly repayments or €478 per month. Total amount payable is €28,652

Warning- If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating which may limit your ability to access credit in the future.