FAQ - Frequently asked questions - How can I finance my electric car?

As part of the application process, we need a KBIS that is less than three months old to ensure that the company is still in business.
🔗 If you would like more information on the documents required : https:/financing/loa-electric-car/

No, it is impossible to reclaim VAT on an electric vehicle
🔗 If you would like more information on the taxation of electric vehicles, please consult our article on the subject: https:/fiscalite/tva-voiture

The beneficiary must provide various documents in order to enter into a LOA contract:
- A copy of your last three payslips. (If you are retired or self-employed, you will be asked to provide your last one or two tax returns).
- A copy of your identity card or passport
- Your bank details (RIB)
- Proof of address less than 6 months old
- A signed and completed cheque for the first instalment of your rental schedule, which will be cashed when you receive your vehicle.

For companies and the self-employed, other documents are required in order to enter into a LOA contract:
- A copy of the identity document of the person in charge of the company
- A K-Bis certificate less than 2 years old
- A bank details form (RIB)
- Part of the balance sheet, i.e. sheets 1 to 8 and 11
- The identity and contact details of the company's chartered accountant

🔍 Please note that if you are a private individual or a professional, you have a withdrawal period of 7 days after signing the contract.

🔗 If you'd like more information on LOA leasing, don't hesitate to consult our article on the subject: https:/financing/electric-car-in-loa/

The beneficiary must provide a number of documents in order to sign a long-term hire contract:
- Your National Identity Card or passport
- Your last tax assessment and/or your last 3 pay slips showing your level of debt.
- Your bank details (RIB)
- Proof of address less than 6 months old
- In some cases, a security deposit may be required

🔗 If you'd like more information on long-term leasing, don't hesitate to read our article on the subject: https:/financing/should-you-buy-your-electric-car-in-loa-or-lld/

The LOA allows you to lease a vehicle with the option of buying it at the end of the lease. You pay monthly instalments for a period agreed with the owner of the car, and at the end of this period you have the choice of buying the vehicle or returning it to its owner.

Full service leasing allows you to hire a vehicle on a traditional basis for a set period in return for a monthly rental payment. What's more, the maintenance and servicing of the car are included in the leasing contract, unlike a full service lease. This means you know the cost of using the vehicle in advance.

🔗 If you'd like more information on LOA and LLD leasing, don't hesitate to consult our article on the subject: https:/financing/should-you-buy-your-electric-car-in-loa-or-lld/

There are various ways of obtaining proof of address. Several types of document can be used as proof of address:
- An EDF (electricity), water or gas bill
- A landline or mobile phone bill or your Internet access package
- A tax or non-taxation notice
- A title deed or rent receipt
- Proof of home insurance
These various documents must be drawn up in the purchaser's name and must be less than 1 year old. In the case of invoices, they must be less than 6 years old.

It is very complicated to break a LOA contract. The best option is to anticipate taking over your LOA and, if this anticipation is accepted, go for a new electric car LOA contract.

In addition to import and transport costs, everything you buy in Europe is subject to VAT (value-added tax). Unlike the US, VAT is included in the price, whereas in the US, sales tax is added afterwards. This applies to all items on sale. In the EU, the minimum VAT is 15 %. In some countries, at the time of purchase or afterwards, owners must pay a number of additional taxes and charges. These are in addition to the registration tax paid each year.
These different taxes explain why Tesla cars cost more in Europe.

Balloon credit is a vehicle leasing contract, mainly offered by car dealers or directly by manufacturers such as Tesla.

This credit allows a dealer to offer new vehicles directly to customers. However, in return, the contracting party of a balloon credit will have to pay an initial deposit corresponding to 10-20% of the price of the vehicle. What's more, this payment is not recoverable.

In addition to the deposit, the lessee also pays monthly instalments over a period of between 12 and 48 months. However, the last monthly instalment, known as the "balloon", is the highest and enables the lessee to purchase the vehicle if they so wish.

🔗 If you'd like more information on the different types of LOA and LLD leasing, don't hesitate to consult our article on the subject: https:/financing/should-you-buy-your-electric-car-in-loa-or-lld/