Canada's Trusted Bad Credit Car Loan Resource

Get started in 3 minutes with good, bad, or no credit.

Buying an Electric Vehicle in B.C. is Now More Affordable than Ever

Recently, good news has been announced for drivers who want to go green in British Columbia. The privately-funded SCRAP-IT program is now offering B.C. residents a $6,000 incentive for buying an EV (electric vehicle). This is double the amount that they were previously giving consumers.

When this incentive is added to the maximum allowance provided by the government for EV purchases, buyers of new EVs could receive up to $11,000. This could really be helpful to car shoppers who want to purchase an EV, but have been deterred by the higher price tags.

Why SCRAP-IT Wants to Make it Easier to Buy an Electric Vehicle

Buying an Electric Vehicle in B.C.

SCRAP-IT started in 1996 to encourage consumers to "scrap" less fuel-efficient cars in favour of electric vehicles. Originally, they offered an incentive of $3,000 to new and used EV buyers. And since April of 2015, they have sent cheques to more than 600 consumers. Now, they want to generate more volume.

For 2017, SCRAP-IT reportedly has the funds to hand out incentives to 500 new electric vehicle buyers and 400 buyers who purchase used EVs. There are no government-issued allowances in B.C. for used EV purchases. Also, for any vehicle to qualify for the SCRAP-IT incentive, it must be roadworthy and insured.

Already, car dealers in B.C. are expecting electric vehicle sales to climb in the coming year. About the potential retail boost, Julian Sale of Motorize Auto Direct has stated:

"It's a whole lot of cash they're giving out. When we see incentives come, we can see the sales numbers climb like crazy."

Would an $11,000 incentive make you more likely to choose an EV over a gas-powered car? A few of the cheaper electric vehicles might now be budget-friendly after the new allowance is considered.

New Electric Vehicles that Might Now be Affordable to Buy in B.C.

The following new EV models might be affordable for buyers with smaller budgets in B.C. This is, of course, assuming that the buyer receives the maximum amount of incentives. Also, the prices listed do not include tax, title, licence and destination fees.

The 2017 Nissan Leaf: Starts at $33,998
Approximate Price after B.C. Incentives: $22,998

The Leaf was honored with the Canadian Green Car Award for 2016. It has a range of up to 172 km.

The 2017 Mitsubishi i-MiEV: Starts at $27,998
Approximate Price after B.C. Incentives: $16,998

The i-MiEV comes with a 5-year/100,000-km Powertrain Limited Warranty. It has a range of up to 96 km.

The 2017 Ford Focus Electric Hatch: Starts at $31,998
Approximate Price after B.C. Incentives: $20,998

The Focus Electric Hatch comes with lots of standard features, including 17-inch Sparkle Silver-painted aluminum wheels. It also has a range of up to 161 km.

The 2017 Kia Soul EV: Starts at $35,395
Approximate Price after B.C. Incentives: $24,395

The Soul EV sports an extra-quiet engine and comes with tons of tech features and Kia's incredible 5-year/100,000-km comprehensive warranty. It has a range of up to 150 km.

There's No Better Incentive to Buy a Car than Easier, Faster Financing

If you have poor credit or no credit, buying a car may be a dreaded process. In fact, if you're not sure that you'll be able to get the financing you need, you may not even want to try. But Canada Auto Loan is here to put your worries to rest.

Even if you have credit issues, we can match you with a local dealership that can work with unique credit situations. And because our service costs nothing and is obligation-free, you have no reason not to contact us. So, go ahead and fill out our simple and secure auto loan request to get started today.