Your EV loan directly supports Community
The Power is Yours!
You hold more power than you realize, and at Express CU, we're ready to help you access it. When you apply for an EV Loan with us, you have the power to improve your finances, the environment, and your Washington State community!
How does an EV loan empower you and your community? By switching to an electric vehicle, you'll save on energy and maintenance costs. Your loan will also help us serve the financially vulnerable and underbanked, which means you are helping give power back to those in our community!
Why get an EV loan with Express Credit Union?
It’s more than just an EV auto loan with Express. It’s the right thing to do. When you finance your vehicle with us, you’re supporting our mission of offering free accounts and low cost loan products for underserved communities. As a CDFI Credit Union, the mission of Express is to collaborate with our community to create access to financial opportunities.
We also collaborate closely with Plug in America and their EV’s for Everyone initiative. PIA can provide more information and resources for EV drivers on their journey as they discover the benefits to driving an EV.
How does a loan for an electric vehicle help the local immigrant or underbanked community?
Underbanked and immigrant communities make up a large percentage of our membership. Regardless of immigration status, Express CU is able to provide a trusted banking relationship and allow access to build credit and participate in mainstream banking. The interest earned from EV loans allows us to provide financial services in their language and education to help them reach their financial goals.
Benefits to Express Auto Loans
- FREE annual membership to Plug In America's support hotline to support EV ownership. Approved applicants also have option access to an experienced EV owner as a mentor to assist in car buying process.
- Puget Sound Energy wants to help you understand the costs and benefits of driving an Electric Car. They've created an Electric Car Calculator* to help you calculate your savings potential!
- Establishing an account and loan with Express opens doors to future opportunities and rate discounts on future loans.
- Receive repayment history on all three credit bureaus
- Be part of a community fighting for Economic Justice for ALL.
Ready to Go Electric?
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We'll get you set up with an account once you're approved.
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- Receive a reply within 1-3 business days.
- Loan department will contact you for income verification.
-Pre-Approved applicants will have 60 days to find an EV that works for you.
-Use Plug In America's Car buying tool Plugstar to help find the EV that is right for you.
Frequently Asked Questions
With the Express EV Loan Program, your total cost of ownership can be less than a gas powered vehicle. You don't have to be a millionare to buy an EV. As early adopters sell their EVs for newer models, these vehicles become available for more affordable prices. The enjoyment and benefit of driving electric can be had for much less than you think.
On average the cost of fueling a car with electricity is comparable to paying *$1/gallon for gasoline per the Office of Energy Efficiency & Renewable Energy. Driving 25 miles costs about $3.50 for a gallon of gasoline while it costs only about 60 cents for the equivalent amount of power from electricity.
EVs never require a trip to the gas station or an oil change. Your hands will never smell like toxic petrochemicals. EVs are powered by an electric motor with a single moving part, the rotor. There are a lot fewer things to break down, so maintenance costs are much lower.
Charging is easier (and more affordable) than you may think. You can plug in your EV into a regular 110 volt outlet in your home, just as you would your cell phone each night. Energy cost for electric vehicles is roughly one-quarter the cost of gasoline powered cars.
Costos y Beneficios del Vehículo Eléctrico
Electric Vehicle Basics
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In partnership with:
EV for Everyone initiative.