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Power Up: 5 Types of Hybrid Cars

Hybrid cars are quickly becoming the top choice for Brits who want to combine performance with planet-friendly transport. And let’s be honest, savings at the pump are a huge bonus. But with so many types of hybrid cars to choose from, how do you know which one’s for you?

Keep reading for a rundown of the different types of hybrid cars available in the UK and what each one brings to the table.

What is a hybrid car?

Let’s start with the basics. A hybrid car isn’t just another vehicle on the road. It has a dual personality and combines a traditional combustion petrol engine with an electric motor.

Hybrids can run on the petrol engine alone, the electric motor alone or a combination of both. This versatility is what makes hybrids so appealing. For example, a hybrid will draw on electric power when you’re nipping out to the shops and kick into petrol-powered mode for longer trips.

Now let’s get more specific about the different types of hybrid cars:

1. Mild Hybrid (MHEV)

Mild hybrids are an entry-level option and feature a small electric motor that gives the petrol engine a bit of extra muscle. They won’t run on electric power alone, but they do a great job at improving fuel economy, especially in start-stop traffic. This makes MHEVs terrific little city commuters.

Top pick: Ford Puma EcoBoost Hybrid

Of all the MHEVs available in the UK the Ford Puma is a firm favourite. This nifty mild hybrid SUV pairs a 48-volt battery with a 1.0-litre EcoBoost engine to keep you moving along while using less fuel.

Athletic silhouette
Driver focused technology
Smart interior styling
Megabox for extra boot storage

2. Full Hybrid (HEV)

Step things up a notch with a full hybrid. These cars can run on just the petrol engine, just the electric motor or both at the same time. They’re good for city driving as the electric motor takes over completely at low speeds to slash your fuel use and emissions.

Top pick: Kia Sportage Hybrid Electric

Spacious and modern, the Kia Sportage Hybrid Electric is a top-selling HEV. Infotainment is a highlight, with a pair of huge 12.3-inch displays used to run the company’s industry-leading tech suite. Enjoy Android Auto, Apple CarPlay and sat-nav as standard.

6 turbocharged petrol engine
All wheel drive or 2WD
6-speed automatic transmission
Plucky 1.49 kWh battery

Looking for something a bit more upmarket? The Hyundai Tucson is comparable to the Kia Sportage but comes with a slightly higher starting price. Of course, that buys you some nice extras like Hyundai Digital Key technology so you can lock and unlock the car with your smartphone.

3. Plug-in Hybrid (PHEV)

PHEVs are one of the best types of hybrid cars if you want more electric range but don’t want to commit to an EV. With a bigger battery that can be charged externally, they offer extended electric-only driving and mean you can say goodbye to range anxiety. When the battery runs low, the petrol engine steps in to keep you rolling.

Top pick: Mitsubishi Outlander PHEV

The Mitsubishi Outlander PHEV gives you serious options. Unlock up to 28 miles of electric-only driving and use the petrol engine when you need to go further.

Combined range of over 400 miles

Whether you’re running urban errands or planning a long-distance road trip, the Outlander is up for the task. Craving adventure? High ground clearance and a spacious boot make the Outlander terrific for mud-splattered adventures.

4. Range-Extended Hybrid

Not quite ready to go full electric? A Range-Extended Hybrid could be the answer. These cars have a larger battery and a small petrol engine that acts as a generator when power is running low. It’s a clever way to reap the benefits of electric driving without the worry of running out of juice.

Top pick: Mazda MX-30 R-EV

With a classy silhouette, fun handling and outstanding range, it’s no wonder the Mazda MX-30 R-EV was voted Best Plug-In Hybrid of the Year at the 2024 What Car? Awards.

53 miles of pure electric range
More than 400 miles of combined range

What makes the Mazda MX-30 R-EV one of the best types of hybrid cars? Under the hood is a lightweight Rotary engine that acts as an onboard generator to recharge the battery when it runs low—the perfect compromise for motorists who want to go green without sacrificing range or convenience.

5. Hybrid SUV

Hybrid SUVs are brilliant if you need something with a bit more space and power but don’t want to drive a gas guzzler. The result? A car that’s perfect for everyday errands, longer trips and even a bit of off-roading.

Top Pick: Volvo XC90 T8

The Volvo XC90 T8 is a top pick for those who want luxury, space and eco-friendly driving in one package. With up to 31 miles of electric-only range and a total power output of 407 horsepower, it’s as gutsy as it is green.

The interior is Scandinavian to a T – clean lines, high-quality materials and

Finance a hybrid with My Car Credit

Whatever your motivation, whether it’s to save on fuel, do your bit for the environment or enjoy a whisper-quiet ride, there are types of hybrid cars out there for everyone. At My Car Credit, we’re here to help you find your perfect match with tailored car finance solutions for best-selling hybrids like the BMW 330e, Mercedes-Benz C 300 e, Kia Sorento, Dacia Jogger, Honda Civic, Skoda Octavia Estate and Toyota C-HR.

Thinking about going full electric? We can help with that too with finance for models like the Tesla Model 3 and Volkswagen ID 7. Use our car finance calculator to get started and find out more about how we can help make your next car a little kinder to the planet and your wallet.

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Evolution Funding Ltd T/A My Car Credit

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
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Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

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Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

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Keyless entry: 2023 Genesis GV60 introduces face recognition

Genesis looks set to usher in a new era, with the 2023 GV60 model offering the world’s first face recognition technology for keyless entry, alongside other updates.

Owned by the Hyundai Group, Genesis has been operating in the UK since 2021. It’s consistently proven itself as one of the more innovative motor companies in the electric and hybrid vehicle market.

That status will only be cemented with the introduction of face recognition technology to the company’s GV60 model, the brand’s first dedicated electric SUV. Read on to find out more …

What can you expect from the 2023 Genesis GV60?

The 2023 Genesis GV60 will include face recognition technology as standard, alongside a host of industry-leading updates.

First launched in September 2021, Genesis’s ‘Face Connect’ technology will now be rolled out as standard across the GV60 in both the UK and Europe.

This new face recognition technology will allow customers to unlock, drive and lock their vehicle without the need for a key. Through use of a face recognition sensor and biometric data, the GV60 will recognise the driver’s face and allow them access to the car – even if the key isn’t present.

Drivers will need to set this process up through use of the Genesis Connected Services app. All information is securely stored via encrypted software in the vehicle – it’s never uploaded and stored remotely.

Drivers will simply need to walk up to the GV60 and look into a camera on the B-pillar. The GV60 will recognise authorised drivers’ faces, unlocking the vehicle via fingerprint sensor.

The technology effectively resembles that used in smartphones worldwide, and aims to make the driving process as seamless and stress-free as possible for drivers. Genesis also emphasises the convenience for users who enjoy outdoor activities like running and swimming, as car keys will no longer be necessary for vehicular access.

Other updates for the 2023 Genesis GV60 include a Digital Key, which unlocks the car via smartphone or a smart watch. Up to three additional drivers can have access to the vehicle via the Digital Key.

Other features include the Ergo Motion driver seat – which features a massage function as well as heated seats in both front and rear. This includes an electric, adjustable heated steering wheel. All-electric GV60s will also have a new Air Purification System, which detects the cabin’s air quality and adjusts according to dust concentration.

In the UK, the Genesis GV60 with face recognition technology will be available in Premium, Sport or Sport Plus versions. Customers can choose from a variety of colour and trim options as well as upgrade packages.

Finance your next vehicle with My Car Credit

Whether you’re looking to purchase a top-of-the-range vehicle like the Genesis GV60 or not, My Car Credit can help you to secure affordable, accessible car finance. Check your car finance eligibility and contact us today.

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Leasing vs Finance: What’s the Difference and Which is Better?

Advantages of Cars on PCP with No Deposit

No Deposit Car Finance – How Does it Work?

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X monthly repayments of
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Typical rate

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*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

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electric EV Genesis GV60 technology

Electric car parking fines – what are they and how can you avoid them?

Staying abreast of changes to road rules and regulations is the most sensible way of ensuring that you avoid any unwelcome penalties or fines.

Electric vehicles are a comparatively new vehicle, and charging infrastructure continues to be rolled out UK-wide in order to meet the rising number of EVs used, as well as the government’s own Net Zero Strategy.

However, these promises are not yet being met, leading to a strain on nationwide EV charging infrastructure. In an attempt to manage this, some chargepoint operators have introduced electric car parking fines.

What kind of electric car parking fines might drivers face?

If a driver keeps their EV connected to a chargepoint long after the vehicle reaches full charge, they may now face a fine.

The introduction of a fine for drivers staying too long at an EV charging point is not entirely unprecedented. Tesla has an ‘idle fee’ for its worldwide Supercharger network, which results in users being charged for every additional minute the vehicle remains connected to the Supercharger after reaching full charge.

A similar approach is now being taken at certain other chargepoints across the UK. In Aberdeen, for example, a £30 fine will be charged to EV drivers who overstay for an hour or more at any chargepoint.

Companies like ESB Energy and Geniepoint have also introduced electric car parking fines across their chargepoints. There are concerns that these moves will put consumers off purchasing new EVs.

Drive green with My Car Credit

If you’re looking to upgrade to an EV but aren’t sure how to finance it, you can get a no-obligation car loan quote with My Car Credit today.

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What Does ‘Finance’ Mean When Buying a Car?

What is the Oldest Car a Bank Will Finance?

Can You Pay Monthly for a Used Car?

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Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

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electric EV fines parking

Tesla Announces Brand-New Electric Car Platform

In early March 2023, Tesla held its Investor Day event, where CEO Elon Musk and other Tesla managers provided updates around the company’s future developments.

During his speech, which detailed the company’s ‘Masterplan 3’, Musk hinted at the creation of a new electric car platform designed to improve efficiency across the company’s factories and vehicles. The implementation of this electric car platform promises changes that, as company execs advised, would allow for an estimated 40% reduction in factory footprint, create cost savings for the company of up to 50%, and ultimately reduce the risk of production line delays. Overall, estimates from Tesla suggest the new platform will cut down construction costs per vehicle by around $1000 – that’s equivalent to around £830.

A number of developments were also announced, including advances in electric motor technology through to new car construction processes.

An affordable, entry-level Tesla electric vehicle – which would sit beneath the company’s Tesla Model 3 and Model Y in both size and cost – has long been teased. This model would serve as Tesla’s competitor to popular models like Volkwagen’s ID3. However, investors hoping for the company to shed greater light on this car’s development were left frustrated – any such updates were promised to come ‘at a later date’.

Similar frustrations circulated around the lack of information regarding Tesla’s much-anticipated and long-delayed Cybertruck, which has been positioned as an electric pickup truck. Tesla also provided no clear update on the second-generation Tesla Roadster.

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PCP Term: Everything You Need to Know

How to Refinance a PCP Balloon Payment

How to Finance a Car in 4 Easy Steps

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£

Repayment term

My credit rating

X monthly repayments of
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Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

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electric EV tesla

Nissan Plans to Create More Electric Vehicles by 2030

In November of 2021, Nissan announced their ‘Ambition 2030’ scheme, which promised the introduction of 23 electrified models, including 15 fully electric vehicles by 2030.

Nissan was an industry leader when it came to introducing electric vehicles – the Nissan Leaf was first announced in 2011, and the company has continued its pursuit of pioneering electric vehicles as accessible for all. However, as the automobile industry increasingly made the switch, Nissan found itself on something of a back foot. Enter Ambition 2030, designed to return the company to the forefront of the field – and Nissan’s ambitions have only intensified.

What’s new for Nissan Ambition 2030?

Ambition 2030 started off with big goals, including the achievement of carbon neutrality by 2050, and increasing consumer access to electric vehicles and necessary infrastructure. Another goal was the introduction of 23 all-new electric models, of which 15 were fully EV, by the decade’s end.

However, these figures have since changed. Nissan is now promising a total of 27 all-new electric models, of which 19 are promised to be fully electric vehicles. This takes the percentage of total EV or hybrid models across both Nissan and Infiniti’s global suite up to 44% by 2026 and 55% by 2030, which marks a rise from the previously announced figure of 50%.

The company is also predicting a rise in the sale of electric vehicles across a number of key markets. Sales in Europe are anticipated to rise from 75% to 98%, whilst a rise to 58% (from 55%) is predicted in Japan.

Nissan is also partnering with governments, energy providers and other stakeholders to develop and build the necessary EV charging infrastructure. This would support wider consumer use of electric vehicles, as well as smart grid systems and renewable energy sources. The company has stressed the importance of a circular economy for its electric vehicles, committing to ensuring the sustainability of vehicle batteries by way of improved repurposing and recycling strategies.

Further innovation is promised to improve the ‘accessibility’ and ‘mobility’ of Nissan’s electric vehicles. These include advanced autonomous vehicle technologies, alongside an ‘All-Solid-State Battery’ (ASSB). These batteries are positioned by Nissan as a ‘revolutionary technology’ designed to make EVs safer, more efficient, and affordable. Smaller in size than the current batteries, they enable more sophisticated and flexible design options for electric vehicles, as well as a reduced charging time and more affordable price point for the vehicles themselves.

This latter benefit has particular appeal, given the financial inaccessibility of electric vehicles, which have a higher entry price than their gasoline counterparts. This can often put consumers off the transition from combustion engines to electric vehicles.

Finance your next electric vehicle

Whilst electric vehicles have a higher price tag, car finance makes them affordable and accessible. Use My Car Credit’s car finance calculator to get a no-obligation quote for car finance in mere minutes, or contact the team today on enquiries@mycarcredit.co.uk to find out how we can help you go greener.

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PCP Finance Explained – Personal Contract Purchase Guide

Check for car finance without affecting your credit score

PCP Term: Everything You Need to Know

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

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2030 electric EV nissan

Is Apple Making a Car?

Apple has long set its sights on the motoring industry. As far back as 2008, rumours circulated that an Apple car was in the works, but progress has stalled on a number of occasions.

So, is Apple making a car, and if so, when will it hit the market?

What is known about the Apple car?

Perhaps unsurprisingly, the road to the Apple car has been full of twists, turns and abandoned negotiations. In 2014, ‘Project Titan’ began – the Wall Street Journal reported that Apple was hiring a range of automobile experts and engineers with the aim of launching a fully autonomous electric vehicle. In May 2018, the tech giant was reported to be in communication with Volkswagen – a partnership that literally crashed and burned as a result of test crashes and employee leaks.

In 2016, rumours suggested that ‘Project Titan’ had been shelved, but by 2020, the Apple car project was back on track. However, 2021 brought reports that negotiations between Apple and Hyundai, and its subsidiary company Kia, had broken down. By April of the same year, Apple CEO Tim Cook equivocated around Apple’s work on developing a car, but hinted that it was a project the company was invested in moving forward.

Is Apple making a car?

Currently, the Apple car is green lit – but it won’t be a fully autonomous vehicle, as the company had initially hoped. The Apple car will be partially autonomous, with a traditional driving seat, steering wheel and pedals (all of which had been removed for the initial autonomous prototype).

At the close of 2022, Bloomberg reported that Apple planned to launch a consumer model of the car by 2026, with a price point of $100,000. As such, the Apple car will be competition for the likes of the Tesla Model S and the top-end BMW i7. Further reports by Bloomberg suggest that the Apple car’s stats and features will be finalised by the end of 2024, with testing commencing in 2025 and production from 2026.

There is significant speculation about the Apple car’s design and technology, with the exact details remaining broadly unknown. Full iOS integration is expected, and a number of pending patents have been noted for vehicular features. These include patents for ‘movable sensors’, ‘smart headlights’ and ‘adjustable tinted windows’, amongst others.

Apple’s AI lead John Giannandrea is reported to be overseeing the Apple car project, with input from Kevin Lynch, a software developer who worked on the Apple Watch. As Apple itself has no experience in the automobile industry, they will need partners – at the time of writing, these are unconfirmed. Whether Apple achieves the goal of manufacturing a car after all these years remains to be seen.

Finance your dream car with My Car Credit

Owning an Apple car may not yet be within reach, but My Car Credit’s car finance calculator will give you a no-obligation quote for your dream vehicle. Contact us on enquiries@mycarcredit.co.uk to find out how we can get you behind the wheel today.

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Will I Get Accepted for Car Finance?

How to Refinance a PCP Balloon Payment

How Do Car Finance Calculators Work?

Loan amount

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Repayment term

My credit rating

X monthly repayments of
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Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

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Electric Car Sales in the UK Overtake Diesel

Electric car being charged at a charge point

Earlier this month, the Society of Motor Manufacturers and Traders (SMMT) released their report on the UK car market. Amongst the most significant findings is the news that battery electric vehicles (BEVs) overtook diesel vehicles to secure their best ever monthly market share in December 2022.

With 32.9% of the market and a total of 16.6% for new car registrations, BEVs have surpassed diesel for the first time ever, and are now second only to petrol vehicles. In combination with the figures on HEVs (hybrid electric vehicles) and plug-in hybrids (PHEVs), this means that average new car CO2 (carbon dioxide) fell by 6.9% to 111.4g/km – the lowest in UK history.

SMMT Report – the overview

Whilst December 2022 was the biggest month in the UK market for battery electric car sales, plug-in hybrids saw a reduction in their annual market share to 6.3%. Hybrid electric vehicles also saw growth, and now make up 11.6% of the market. Diesel sales, meanwhile, plummeted by 38.9%.

The success of electric car sales in the UK is overwhelmingly down to fleets and business buyers. Although private buyers account for over half of all total vehicle registrations, they fall shy of the numbers of fleets and business buyers, who accounted for around 75% of all BEV registrations.

The best-selling electric car in the UK was the Tesla Model Y, followed by the Tesla Model 3 and Kia e-Niro. The Tesla Model Y also ranked as the third best-selling car overall, only after the Nissan Qashqai and Vauxhall Corsa (both of which also have electric models).

Why do private buyers account for so little of UK electric car sales?

Although there’s a concerted effort to ‘green’ Britain’s roads, this report from the SMMT demonstrates an overall reticence amongst private buyers to move to electric vehicles. Quite why private buyers are proving slower to transition to greener vehicles is explainable in a number of ways.

Grants

In 2021, the government announced a series of reductions to electric vehicle subsidy schemes. For example, in December of 2021, the Department for Transport laid out a reduction of £1,000 for buyers making use of financial incentives to fund the upfront cost of a new electric vehicle.

A concurrent reduction was also made to vehicular models eligible for government support, with a maximum limit of £32,000 set down from £35,000. For many private drivers, the initial purchase fee of EVs is prohibitive, which is why government grants and incentives have such a significant place in swaying consumer behaviour. Securing a car loan quote and car finance suited to individual driver needs provides a further way for motorists to invest in electric vehicles.

Charging infrastructure

There are also concerns over public charging infrastructure. According to the SMMT’s report, the government’s EV Infrastructure Strategy forecasts a need for 300,000 to 720,000 charge points in the UK by 2030. To hit 300,000 public chargers by that date, current installation should average at 100 new chargers installed every day, but the current figure is 23.

Supply shortages

Supply chains remain inconsistent – a fact which was also noted by the SMMT as impacting the UK’s overall car market – as a result of semiconductor chip shortages due to disruption caused both by the pandemic and the Russian invasion of Ukraine. This disruption is expected to stabilise as 2023 unfolds.

The result…

Consumers are unlikely to make the switch to electric unless they can be certain that the necessary infrastructure is available, and anxieties about the current cost of electricity also impact overall EV private sales. Given the expensive initial price of EVs, concerns over the provision of public infrastructure, and fears over cost of living, the anxieties of private buyers regarding the move to EVs seem unlikely to be alleviated.

This certainly seems to be the position of Mike Hawes, Chief Executive at the SMTT, who urged the government to encourage the move towards EVs by continuing to invest in nationwide charging infrastructure. As the UK approaches the 2030 petrol ban, after which the sale of new petrol and diesel cars will be banned, the need to invest in UK-wide EV charging infrastructure will become ever more pressing.

Find out how we can help you make the move to electric

Purchasing an EV doesn’t have to be a pipedream. With My Car Credit, it won’t be. We can even work with drivers with poor credit scores – contact us on enquiries@mycarcredit.co.uk to find out how.

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What Does ‘Finance’ Mean When Buying a Car?

Can I Give My Car Back to the Finance Company?

HP, Conditional, PCP: The Lowdown on Car Finance Options

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

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Types of Tesla Models: Which Car is Right for Me?

With sleek silhouettes, luxurious interiors, next-gen technology and a sultry electric purr, there’s no mistaking a Tesla. While there are many different types of Tesla models on British roads, all share the same prestige and eco-friendly reputation.

The company made global headlines in 2009 with the launch of the all-electric Roadster sports car powered by a lithium-ion battery. It was followed by the more family-friendly Model S sedan in 2012, which received widespread praise for its impressive range and acceleration power. Next came the spacious Model X SUV in 2015, a futuristic crossover that pushed the boundaries of EV design and performance.

Today, Tesla drivers are spoiled for choice. British motorists can buy new or second-hand, which significantly expands the types of Tesla models available. To help you decide, we’ve put together a roundup of the latest models, as well as some not yet launched models to keep an eye on.

A quick intro to Tesla

If you’re in the market for a Tesla, you probably already know quite a bit about the company. But just in case, let’s take a moment to get up to speed. The company is based in California and manufacturers electric vehicles (EVs). Elon Musk is founder and CEO of the company and is no stranger to publicity. The eccentric entrepreneur doesn’t just dabble in EVs. He’s also the architect behind SpaceX, an aerospace manufacturer attempting to revolutionise the sector and make commercial space travel a reality. Musk has made waves for his support of cryptocurrency Dogecoin and his unusual baby name choices.

Controversies aside, there’s no denying Musk has earned enormous respect in the EV sector. Teslas are coveted around the world and the UK is no exception.

Teslas on British roads

Tesla enjoyed record sales in the UK in 2021 and played a pivotal role in helping the country meet an EV market share milestone. The latest new car registration data from the Society of Motor Manufacturers and Traders (SMMT) reveals that for the first time, EVs accounted for 10% of sales in 2021. This represents an impressive jump from the 6.6% recorded in 2020.

Tesla was a major contributor, with the Model 3 topping the chart as the best-selling EV in Britain in 2021. According to the SMMT, 34,783 of the vehicles were sold. The model drastically outsold the Kia e-Niro, which was the second most popular EV purchased in 2021. Just over 12,000 units were delivered.

It’s not just the EV market the Model 3 is dominating. The wildly popular Tesla model was also the second most purchased vehicle in the UK overall in 2021. It was trumped only by the Vauxhall Corsa, which was purchased by almost 41,000 motorists.

Types of Tesla models: Which is right for me?

Currently, British motorists can choose from four different types of Tesla models. We take a closer look at each below:

Tesla Model S

Range: 396 miles

0-60 mph: 1.99 seconds

Top speed: 200mph

Peak power: 1020hp

Starting price: £91,980

If you’re looking for speed, the Model S boasts the fastest acceleration of any vehicle in the Tesla family. The latest Plaid version is equipped with tri-motor propulsion technology and offers incredible performance. The model brings state-of-the-art battery architecture to the table, as well as all-wheel drive (AWD) handling. The silhouette is clean and low lying, taking cues from luxury sports cars like Jaguars. Overall, this is definitely one of the most luxurious types of Tesla models.

Tesla Model 3

Range: 374 miles

0-60 mph: 3.1 seconds

Starting price: £45,990

In a nutshell, the Tesla Model 3 is an affordable and toned-down version of the Model S. The accessible price point, combined with the practical four-door sedan design, has helped to establish it as one of the most popular types of Tesla models. The model is equipped with Autopilot, Tesla’s signature driver assistance software, designed to enhance safety. For a cost, you can upgrade to self-driving technology.

Tesla Model X

Range: 329 miles

0-60 mph: 3.8 seconds

Starting price: £98,980

Tesla answered calls for an SUV with the Model X. With space for seven passengers, it’s one of the largest types of Tesla models. It combines the generous dimensions of an SUV with the luxurious features of the Model S. Think an enormous interior touchscreen, futuristic Falcon Wing doors and, of course, Autopilot functionality.

Tesla Model Y

Range: 318 miles

0-60mph: 4.8 seconds

Starting price: £54,990

Looking for a Tesla that toes the line between the Model 3 and Model X? The Model Y steps up with a clever compact SUV and an affordable price tag. With loads of space and great range and performance, it’s no surprise this is one of the best types of Tesla models for families.

Cybertruck

The Cybertruck hasn’t been launched yet but like all Tesla models, there’s plenty of hype surrounding the newest member of the family. The model is the company’s foray into the pick-up truck market, which will undoubtedly make waves in the US. With a solid stainless-steel body, sharp angular lines and armoured glass windows, it’s not for the faint of heart. The first models are expected to hit US roads in late 2023, with the UK launch subject to demand. Basically, you’ll need to sit tight if you want to get your hands on one of these types of Tesla models.

Roadster

After huge success with other models, Tesla has refocussed its attention back to the Roadster. The goal is to launch the fastest EV in the world, and if the rumours of 0-60mph acceleration in 1.9 seconds and a top speed of more than 250mph are true, the company is on track.

Car financing for your Tesla

Whether you’re in the market for a second-hand Model S or a gleaming new Model X with all the bells and whistles, we can help you get behind the wheel of your dream Tesla.

Use our finance calculator to get a car loan quote and join the Tesla family. Or, if you’d like to learn more about what we offer, send us an email or speak to our friendly team on 01246 458 810.

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Electric Car: Lease vs Buy – Which is Best?

An increasing number of Brits are embracing the EV revolution, with some choosing to lease and others opting to buy. Both options come with a unique set of pros and cons, which we explore in more detail below. But first, let’s dive a little deeper into the EV uptake in the UK.

EVs gaining popularity across the UK

The uptake of EVs is on the rise in the UK, with the latest statistics from the Department for Transport (DfT) confirming sales of battery-powered cars hit record highs in 2021. In the North, EV registration numbers jumped to almost 75,000 last year. This represents a leap of more than 50% compared to the previous year. Nationwide, the DfT estimates there are more than a quarter of a million EVs driven by British motorists.

To cope with demand, the government has pledged to install 300,000 public EV charge points across the country. This is almost five times more than the number of fuel pumps currently available to motorists. Transport Secretary Grant Shapps says it’s part of a plan to establish the UK as a global leader in EV uptake. He says supporting EVs will not only help motorists save money on fuel but will play a critical role in helping the country meet its net-zero targets.

Now we know more about how much momentum EVs have gained in the UK, let’s take a closer look at some different ways to get behind the wheel of these eco-friendly vehicles. Which is best – an electric car lease vs buying an EV? Or is there another option that combines the best of both?

The pros of leasing an EV

Maintenance and servicing costs are included in your monthly repayments.
Depreciation isn’t a concern, as you never take on ownership of the vehicle.
Similarly, you won’t need to worry about selling the car when you’re ready to upgrade.
At the end of the lease, you’re free to upgrade to a newer model. This makes leasing an appealing option for many motorists. If you love the butter-soft feel of new leather seats or enjoy the latest tech, sound systems and driver assist features, leasing can be a great solution.
If you use your EV for business, leasing can offer some tax write-offs.

The cons of leasing an EV

Mileage is generally restricted, which means you’ll need to keep tabs on how far you drive. If you’re planning to use your EV for road trips, long daily commutes or as a full-time business car, leasing can be restrictive.
Leasing agreements can also be restrictive when it comes to wear and tear. If you use your car to transport kids, pets or anything else that can make a mess, leasing may not be the best option.
You may still be liable to cover serious damage to the vehicle, which means leasing isn’t a 100% risk-free option.
You never acquire ownership of the EV, which restricts how you can use the vehicle. For example, you may not be allowed to take the car out of the country, which rules out a weekend away in France or a ferry to Ireland.
Charges may be applicable if you want to end the lease before the agreed term. This can make leasing a more expensive option in the long run.

The pros of buying an EV outright

You acquire full ownership of the vehicle the moment the transaction is approved. This gives you complete freedom over mileage, wear and tear, international destinations and other factors that can be restricted with leasing.
Buying an EV outright is the cheapest option as you don’t take on debt. This eliminates extra costs like interest, as well as fees and charges.

The cons of buying an EV outright

You’ll need to cover the total cost of the vehicle outright. In the UK, the cheapest electric cars like the Smart EQ Fortwo Coupe will set you back at least £17,000. Bestsellers like the Kia Niro EV are priced at almost £35,000 for new models, while the wildly popular Tesla Model 3 will set you back almost £45,000. Most Brits simply don’t have the cash to purchase a new EV outright.

EV Finance – The Best of Both Worlds

As we’ve explored, there are pros and cons to both leasing an EV and purchasing outright. This is where financing can be a clever option. Purchasing an EV on finance balances the two options and offers the best of both worlds – you take on full ownership of the car, with the freedom to spread the payment over a longer period.

Depending on the type of financing agreement you choose, there may still be limits and restrictions. However, in general you’ll enjoy far more freedom than on a lease contract. EV technology has improved in leaps and bounds over the past few years, with models like the Tesla Model S offering incredible range of more than 400 miles on a single charge. For family-friendly EV models like the Hyundai IONIQ 5, expect a top driving range of 315 miles.

These are impressive stats and have reimagined the functionality of EVs. Want to skip the forecourt, slash your carbon footprint and cover serious distance? Use our quick and easy calculator to get a car finance quote and unlock a budget for your EV purchase.

Finance for Second-Hand EVs

If you’re thinking about purchasing a second-hand EV, financing can help stretch your budget further and minimise the financial stress of buying a car. Unlike leasing agreements, which are generally reserved for only the newest models, car finance can be used to purchase a pre-loved EV. This can be a great way to get behind the wheel of an EV while keeping your monthly repayments as low as possible.

Join the EV revolution

Thinking of financing an EV? You’re not alone. The latest data from the Finance & Leasing Association confirms more than 90% of new vehicles are financed. In the UK, a personal contract purchase (PCP) is the most popular car finance option. Contracts generally span for three to five years and come with attractive interest rates when you shop around for the right provider.

PCP usually starts with an initial deposit, with the remaining cost spread over monthly repayments. At the end of the loan, you’ll have the option to purchase the car outright with a balloon payment. This payment tops up the total amount you’ve already paid to match the Guaranteed Minimum Future Value (GMFV) of the EV, which was agreed on at the start of the loan.

Give us a call today on 01246 458 810 or email us at enquiries@mycarcredit.co.uk to find out more about PCP loans and other car finance options.

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A Beginner’s Guide to Finding Car Insurance for Electric Cars

Electric cars have gone from futuristic novelty to everyday reality. Whether it’s a Tesla gliding down the M1, a Nissan Leaf squeezing into a tight space in London, or a MG4 tackling the hills of the Peak District, EVs are everywhere. And the movement isn’t slowing down. With ULEZ zones expanding, petrol and diesel bans looming and charging points popping up faster than Costa outlets, more and more British drivers are making the switch.

The numbers say it all. At the start of 2025, over 1.4 million fully electric cars were registered in the UK. This accounts for just over 4% of all cars on British roads. Back in 2021, that figure was just 1.2%, meaning the number has more than tripled in just a few years. Safe to say, EVs are here to stay.

One thing that catches many new EV owners out? Insurance. It’s easy to assume car insurance for electric cars works the same way as petrol or diesel cover. Until you start looking at policies and realise that things like battery cover, charging cables and specialist repairs make a difference.

If you’re considering buying an EV or switching your insurance, this guide breaks down everything you need to know about finding car insurance for electric cars, without the faff.

What is electric car insurance?

Electric car insurance isn’t wildly different from standard insurance, but EVs come with a few quirks. The key differences?

Battery cover – EV batteries aren’t cheap, and some policies don’t cover them if they’re leased.
Specialist repairs – Fewer mechanics are trained to fix EVs, which means repairs can cost more.
Charging equipment – Some policies protect charging cables, home charge points and even public charge mishaps (like if someone trips over your cable).

Because of these factors, EV insurance can be priced differently. Sometimes more, sometimes less, depending on the insurer and the model.

The bottom line? No matter what model you drive, having the right insurance matters. Whether it’s covering costly battery repairs, protecting your home charger or ensuring you’re not left footing the bill for third-party incidents, insurance for electric cars keeps you financially secure. With the growing number of electric cars on UK roads, insurers are adapting and offering tailored policies to give EV owners peace of mind. But it’s crucial to check exactly what’s covered before you commit.

The future of electric vehicles

With the 2030 petrol and diesel ban creeping closer, the transition to electric is well underway. The number of EVs on UK roads has tripled since 2021, and it’s only going up from here.

How does this affect insurance?

More insurers offering EV cover – Specialist policies are now common.
Cheaper premiums over time – As EVs become the norm, insurance prices will stabilise.
More second-hand EVs available – This means lower purchase prices and, in turn, lower insurance costs.
Government incentives – Perks like reduced Vehicle Excise Duty (VED) for zero-emission cars also make EV ownership more appealing.

Do insurers cover electric cars?

Yes. Most major companies, including Aviva, Direct Line and Admiral, offer car insurance for electric cars. Some providers even offer EV-specific policies, covering things like:

Battery repairs and replacement
Charging cable protection
Breakdown cover with mobile charging

Own a Tesla, Polestar or Porsche Taycan? Some policies require repairs to be done at manufacturer-approved centres, so check the small print.

Types of electric car insurance cover

Not all car insurance policies offer the same level of protection, and that’s especially true for EVs. Whether you’re driving a budget-friendly Dacia Spring, a mid-range Kia EV6 or a high-performance Mercedes-Benz EQS Saloon, the type of cover you choose can make a big difference if something goes wrong.

Here’s a breakdown of the main options:

Third-party only (TPO)

Covers damage to other vehicles and property.

Won’t cover your own EV. So if you’ve spent serious money on a Tesla Model Y or a Polestar 2, this could leave you out of pocket.

TPO is the bare minimum level of cover required by law. It’s often chosen by drivers of older, lower-value cars where repair costs wouldn’t justify a pricier policy. But with EVs generally costing more than petrol or diesel cars, this level of insurance for electric cars isn’t always the smartest choice.

Third-party, fire & theft (TPFT)

Adds theft and fire protection on top of third-party cover.

Still won’t cover your own EV if you crash or it gets damaged in an accident.

TPFT gives some extra peace of mind, especially as EVs are becoming a bigger target for thieves due to their expensive batteries and high-tech features. For example, some models, like the Kia E-Niro Electric Estate and Hyundai Ioniq 5, have been flagged as attractive to thieves because of their keyless entry systems. If you’re worried about battery theft or fire damage, this policy at least offers a step up from basic third-party cover.

Comprehensive insurance

✔ Covers everything. Your car, other cars, theft, fire and more. Basically, total peace of mind.
✔ Best for EVs because of the higher cost of repairs.

Comprehensive insurance is usually the best option for EV drivers. With repair costs higher than petrol or diesel cars (especially if something goes wrong with the battery) it makes sense to have full cover.

Let’s say you own a Volkswagen ID.4 and someone scrapes it in a car park and drives off. If you only have TPO or TPFT cover, you’ll be paying for those repairs yourself. But with comprehensive car insurance for electric cars, your insurer steps in to cover the damage.

Why choosing the right cover matters

EVs in the UK range from £15,000 for budget models like the Dacia Spring to £100,000+ for luxury vehicles like the BMW i7. Or if you’re feeling really fancy, the Rolls-Royce Spectre starts at a cool £330,000.

No matter what you drive, getting the right level of cover is important. Your policy will depend on:

The car’s value – A used Nissan Leaf might not need the same cover as a brand-new BMW iX SUV.
How often you drive – Full coverage makes more sense if you’re racking up miles for work.
Charging arrangements – If you rely on public chargers, cover for charging cables and accidental damage is worth considering.

With EV technology still evolving, repair costs remain higher than traditional cars, so opting for comprehensive cover is often the safest bet. A little extra on your monthly premium now could save you thousands later.

What extras can you secure on an electric car insurance policy?

EVs come with unique risks, so extra cover can make sense. Consider add-ons like:

Battery protection – If your battery isn’t covered, a replacement could set you back £5,000–£10,000.
Charging cable cover – Theft, damage and third-party liability (because tripping over a cable is a real risk).
Home charger cover – Some insurers cover damage or theft of your wall-mounted charge point.
Breakdown cover – Some providers now offer mobile charging if you run out of juice mid-journey.

Given the higher repair costs and specialist nature of EVs, checking your policy for these extras is essential. Whether it’s battery protection or charging equipment cover, having the right add-ons can save you money and hassle in the long run. A quick policy review now ensures you’re fully covered, before you need to make a claim.

How do you insure an electric car?

Insurance for electric cars is straightforward, granted you do the homework:

Compare quotes – Some insurers charge a premium for EVs, so shopping around pays off.
Choose the right coverage – Your policy should be based on the vehicle’s value and your individual needs.
Provide detailed information – You’ll need to disclose relevant information about the car, including battery type and charging requirements. Our advice? Be as thorough as possible when insuring electric cars.
Check insurance extras – Read the fine print and make sure you’re clear on coverage for extras like the battery and cables.
Declare modifications – Software updates and aftermarket chargers can affect premiums.

Does it cost more to insure an electric car?

It depends on the model. Some EVs cost more to insure because of battery replacement costs and specialist repairs. Others are cheaper, thanks to fewer moving parts and lower accident rates.

Policies can creep up due to:

- EV battery replacement costs – These can surpass £10,000 if not under warranty.
- Specialist repairs – Not all garages can fix EVs, so some insurers charge more.

Limited data for insurers – Insurance relies on statistics, and with EVs still relatively new, there’s less data available compared to petrol and diesel cars. The good news? As more EVs hit the road, insurers gain a better understanding of risks and repair costs, which should lead to more competitive premiums in the future.

Ways to save on EV insurance

Go for a model with lower repair costs – A Fiat Grande Panda or Citroen e-C3 costs less to insure than a high-end EV.
Improve security – Driveway parking and steering locks can reduce premiums.
Increase voluntary excess – A higher excess can lower monthly payments.

Electric car insurance should stabilise as EVs become the norm, just as it does with petrol and diesel cars. With more trained mechanics, better parts availability and insurer competition, premiums will likely become more affordable over time.

Financing an electric vehicle

There’s no sugarcoating it – EVs cost more upfront. While running costs are lower (no fuel, fewer mechanical issues and cheaper road tax for starters) the initial price tag can feel steep. That’s where car finance helps make EV ownership more accessible.

Here’s a look at your options:

PCP (personal contract purchase)

PCP offers lower monthly payments because you’re only paying for the car’s depreciation, rather than the full value. At the end of the term, you can buy the car outright, return it or part-exchange it for a newer model.

Lots of flexibility makes PCP ideal for EV drivers who like to upgrade as battery technology improves. It’s also great for models like the Tesla Model 3 or Porsche Taycan, where residual values tend to stay high.

HP (hire purchase)

HP spreads the full cost of the car over monthly instalments, so by the end of the term, you own the vehicle outright. No balloon payment required. Monthly payments are higher than PCP but there’s no mileage limit and you won’t need to decide whether to hand the car back.

If you’re planning to keep an EV long-term, HP makes sense for reliable models like the Mini Electric or Volkswagen e-Up.

Leasing

Leasing is like a long-term rental, with fixed monthly payments and no option to buy at the end. Since EV technology is evolving quickly, leasing allows you to upgrade to a new model every few years without worrying about depreciation.

Great if you want to experience the latest tech, like the Renault 5 Turbo 3E, Range Rover EV and BMW iX3 2025, without committing to ownership.

Government incentives and grants

The UK government offers various incentives to make EV ownership more affordable. These include:

OZEV electric vehicle chargepoint grants – Get up to £350 or 75% off the cost of installing a home charger.
Salary sacrifice schemes – Employees can save on an EV by leasing through their employer, thanks to tax-efficient salary sacrifice schemes.
Company car tax savings – EVs attract a much lower Benefit-in-Kind (BiK) tax rate (currently 2%), making them a cheaper option for company car drivers compared to petrol or diesel models.
ULEZ and Clean Air Zone exemptions – Electric vehicles are exempt from Ultra Low Emission Zone (ULEZ) charges and Clean Air Zones (CAZ).

With more financial incentives and falling EV prices, switching to electric is becoming more cost-effective, especially with the right finance plan.

Affordable car finance with My Car Credit

At My Car Credit, we help drivers secure affordable finance for EVs, whether you’re after PCP, HP or leasing options. With access to a wide panel of lenders, we help match you with a finance deal that fits your budget. Thinking about going electric? We’ll guide you through the process, so you can drive away in the right EV without overstretching your finances.

Partner with us and you’ll get:

Competitive rates from trusted UK lenders
A hassle-free online application
Quick decisions and flexible repayment options

Take the hassle out of EV financing

With over 1.4 million electric cars now on UK roads, EV ownership is no longer niche. As the market expands, insurance options are becoming more competitive. Checking battery cover, comparing quotes and understanding how EV repairs affect premiums will help you secure the right protection without overpaying.

Looking to finance an EV? My Car Credit offers flexible options to help spread the cost. Our friendly team is here to answer all your questions about finance agreements, electric car insurance and more.

Apply online today and start your electric journey with confidence.

Frequently asked questions about car insurance for electric cars

What is the best insurance for electric cars?

A comprehensive policy usually offers the best protection. Compare quotes to find a good deal and select coverage based on the vehicle’s specs and usage.

Can you insure an electric car without battery cover?

Yes, but battery repairs are costly. Full cover reduces financial risk.

Does my insurance cover charging cables?

Some electric car insurance policies do but it’s always worth checking. Theft and accidental damage may not be included.

Other helpful guides

8 Benefits of Getting an Electric Car on Finance

Electric Car: Lease vs Buy – Which is Best?

Electric Car FAQs – Where to Charge?

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How Does Car Finance Work in the UK?

Who is the Legal Owner of a Car on Finance?

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Typical rate

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Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

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Hybrid cars are quickly becoming the top choice for Brits who want to combine performance with planet-friendly transport. And let’s be honest, savings at the pump are a huge bonus. But with so many types of hybrid cars to choose from, how do you know which one’s for you?

What is a hybrid car?

1. Mild Hybrid (MHEV)

Top pick: Ford Puma EcoBoost Hybrid

2. Full Hybrid (HEV)

Top pick: Kia Sportage Hybrid Electric

3. Plug-in Hybrid (PHEV)

Top pick: Mitsubishi Outlander PHEV

4. Range-Extended Hybrid

Top pick: Mazda MX-30 R-EV

5. Hybrid SUV

Top Pick: Volvo XC90 T8

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So, is Apple making a car, and if so, when will it hit the market?

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