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BofA to Offer Financing for Residential Electric Vehicle Chargers

February 8, 2023

Bank of America announced today that it will offer consumers the option of financing their residential electric vehicle chargers alongside their auto loans. 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 U.S. to nearly 27.5 million by 2030, up from just 1.3 million in 2021.1 At-home charging stations range in price from $200 to $2,000 in the US.

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