How to Offer Finance for EV Charging Points

Why Offer Finance for Electric Vehicle Charging Points?

With the sharp rise in electric vehicle (EV) adoption, demand for charging infrastructure is booming. Offering finance to your customers for EV charging points can:

• Make high upfront costs more manageable
• Encourage conversion and boost sales
• Differentiate your business in a competitive market
• Foster long-term customer relationships

"Finance can be the bridge between your customers’ intent and action. Don’t let cost be a barrier—let it be an opportunity."

How Does Retail Finance Work for EV Charging Points?

Retail finance allows consumers to spread the cost of a purchase over time. Typically, your business partners with a broker (like Kandoo) who connects you to lenders. Customers can choose various terms, such as 0% interest or interest-bearing plans, making the technology more accessible.

Popular Finance Models:

1. Interest-Free Credit: Appeals to cost-conscious buyers, paid over a set number of months.
2. Interest-Bearing Credit: Allows for more flexible terms, sometimes with lower initial payments.
3. Buy Now, Pay Later: Defers payments, ideal for customers waiting for grant approval or budgeting cash flow.

Legal & Regulatory Considerations

Offering finance is regulated in the UK. You must:

• Work with FCA-authorised brokers
• Ensure GDPR compliance when handling customer data
• Provide clear, honest communications and include prominent disclosures

⚠️ Tip: Only advertise finance options provided by reputable, regulated sources to protect your business and your customers.

Setting Up Finance for Your Charging Point Business

Step-by-Step Guide

1. Research Retail Finance Brokers: Look for specialists experienced in home improvement or green tech sectors, like Kandoo.
2. Evaluate Finance Products: Match customer needs—are you targeting homeowners, businesses, or fleet owners?
3. Onboarding & Training: Get your staff up to speed with finance processes, compliance, and customer FAQs.
4. Integrate with Sales Process: Display finance options on your website, quotes, and marketing literature.
5. Promote Responsibly: Use FCA-approved tools and templates.

Key Questions to Ask Potential Brokers:

• What is the application process for customers?
• What finance terms and lenders are available?
• How quickly do we get paid?
• Are there setup or ongoing costs?

Example Table: Comparison of Finance Options

Marketing Your Finance Offering

• Highlight finance availability in all customer touchpoints—website, showroom, quotes.
• Use clear callouts like “Spread the Cost of Your Charger!”
• Address common concerns (credit checks, impact on installation timeline, etc.)

“Being upfront about finance options can convert curious shoppers into satisfied customers.”

Advantages for Your Business

• Increase average order values
• Unlock a broader customer base
• Enhance customer loyalty and referrals
• Improve cash flow (lenders usually pay you promptly)

Common Pitfalls to Avoid

Failing to train sales staff or mishandling data can lead to compliance issues.

• Make sure your advertisements are clear, accurate, and not misleading.
• Double-check all documentation and disclosures before going live.

Get Started Today

Ready to grow your EV charging point business with retail finance?

Reach out to Kandoo’s team for tailored solutions. The right finance options can electrify your sales pipeline and make green tech accessible for everyone.

Offering finance isn’t just a sales tool—it’s a way to champion the UK’s transition to sustainable transport.