Bank of America will offer consumers the option of financing their residential EV chargers alongside their auto loans.
Bank of America, which with over 10,000 auto dealers and multiple EV manufacturers nationwide, will finance residential EV chargers. Image: ©BiancoBlue/Dreamstime.com
Based on growing client demand for streamlined solutions that make driving an electric car easier and more convenient, Bank of America now offers dealers and manufacturers the option of letting consumers finance these chargers.
Demand for the charging units, by which drivers charge their cars at home, is expected to grow in the US to nearly 27.5 million by 2030, up from just 1.3 million in 2021. At-home charging stations range in price from US$200 to US$2,000 in the US.
"We aim to help people 'go electric' by providing financing for this critical accessory, which allows clients to charge their vehicles in their own homes and at convenient times," said Fabien Thierry, head of Consumer Vehicle Products for Bank of America.
