Soon a zero-interest loan to finance the purchase of an eco-friendly car
This page is translated from the original post "Bientôt un prêt à taux zéro pour financer l’achat d’une voiture propre" in French.
- 25/04/2022 17:08
The interest-free loan will be implemented in agglomerations with Low Emission Zones (ZFE), starting from 2023.
To assist households located within ZFE areas, the government has decided to offer an interest-free loan for purchasing a low-polluting vehicle. The details of this program have just been clarified in a decree published on Sunday, April 24.
The aid will come into effect on January 1, 2023. It will only be available in agglomerations required to have a ZFE before 2023. To be eligible, residents must live in one of the following agglomerations (or in a neighboring intermunicipal area):
- Greater Paris Metropolis
- Grenoble Metropolis
- Rouen-Normandie
- Lyon Metropolis
- Reims
- Nice-Côte d’Azur
- Toulouse
- Saint-Étienne
- Aix-Marseille-Provence
- Toulon-Provence-Méditerranée
- Montpellier-Méditerranée
- Strasbourg
Aid Conditions
The interest-free loan is available to individuals with a reference taxable income of €14,000 or less. It can also be granted to legal entities “meeting the definition of a microenterprise”.
The loan will be granted for the purchase of a vehicle emitting no more than 50 g of CO2 per km. Consequently, vehicles that are not fully electric or plug-in hybrid are excluded. There is also a weight limit: a maximum of 2.6 tonnes, including utility vehicles. Finally, the purchase price must not exceed €45,000 for a passenger car or €60,000 for a van.
Up to €30,000
The amount of the interest-free loan can reach €30,000, but only for outright purchases. For a lease with purchase option (LOA) or long-term rental (LLD), the maximum is €10,000, and the rental must last at least 2 years. “The loan is then intended to finance the first rent provided for in the vehicle leasing contract and, if applicable, the exercise of the buyout option at the end of the rental period”, specifies the decree.
The total repayment period for the loan cannot exceed 7 years. For a LOA / LLD, the full repayment must be completed before the end of the rental contract.
The interest-free loan is not a permanent scheme but an experiment that is expected to last 2 years.
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