Electric car finance
Finance a brand-new electric car through an online application if you are a permanent resident of Cyprus, with at least 15% of its price paid from your own money.
Questa opportunità è attualmente disponibile in inglese.
Green Car Hire Purchase finances brand-new electric cars with emissions below 50g CO2/km through the online QuickCar application. You can finance EUR2,500–EUR50,000. The bank pays the dealer directly, and the car is registered in both your name and the bank’s name while you repay the financing. After full repayment, it becomes yours when you pay the EUR50 purchase-option fee included in the last instalment.
You can choose a fixed or variable interest rate. Variable-rate finance runs for at least 12 months; fixed-rate finance runs for at least three years. Both can run for up to eight years. A variable rate follows the European Central Bank base rate, so your instalments and total cost can rise or fall.
The September 2026 pricing sheet gives indicative annual rates of 5.55%–6.30% fixed or 6.05%–6.80% variable. These are examples, not guaranteed rates: the bank sets your exact offer after considering your credit history, security, amount, repayment term and own contribution. The annual percentage rate (APR) includes financing costs paid to the bank and third parties, so it gives a fuller comparison than the interest rate alone.
QuickCar has no initial bank arrangement or documentation fees. If repayments fall behind, the fee schedule provides monthly arrears charges of EUR5 during the first 60 days and EUR20 after that, plus additional arrears interest of 2%, which the schedule says is charged when the account is terminated. Early repayment fees follow the applicable consumer-credit rules; for loans outside the relevant credit laws, the schedule provides compensation for the bank’s costs and losses.
Eligibility
- You must be an individual permanently resident in Cyprus buying a brand-new electric car with emissions below 50g CO2/km. The bank does not offer these consumer-finance products to persons in the United Kingdom.
- You must contribute at least 15% of the car’s purchase price yourself.
- The online QuickCar route accepts one borrower. The bank assesses your ability to repay and may reject the application.
- You do not have to take insurance to cover the hire-purchase financing itself.
How to apply
- Stato
- Aperto continuamente
- Restrizioni del bando
- Online QuickCar applications are assessed by the bank; new customers can register through the BoC Mobile app.[^c18][^c19][^c20]
Apply through the BoC Mobile app or 1bank Internet Banking. If you are new to the bank, download the app and register first, then connect to 1bank under its terms. Submit the car invoice or quotation; the online process may also request proof of income.
The online assessment uses automated processing, with your explicit consent. You can ask your servicing branch for a bank officer to re-examine the decision. If approved, the bank notifies you about preparing the contract; you sign at your servicing branch unless told otherwise, and QuickCar does not support digital signatures. The bank then pays the dealer directly.
You can withdraw the application before entering the contract, including after a decision while it remains valid. Once the contract is signed and the financing has paid the dealer, you cannot withdraw from the contract under these published QuickCar terms.