To create incentives for their use, the Andorran Government’s “Engega” (“Ignition”) Plan offers advantages to everyone who buys an electric car or plug-in hybrid. What is the difference, though?

Exclusively electric cars only run on electrical energy that gets stored in their batteries when they are charged while plugged into the electrical power grid. These cars use no other source of energy.

Plug-in hybrids, on the other hand, do. They are cars which run off electrical energy to travel 30 to 50 km using electricity alone, but for longer distances or more demanding drives, the combustion engine goes into action.

The Engega Plan provides economic aid to buy cars in either of these two electric vehicle categories, whether they are new or used (including cars, vans and motorcycles). New vehicles can get aid in the form of discounts of up to 11,000 euros, while used cars will receive discounts of up to 5,000 euros. Moreover, the plan foresees aid to scrap old vehicles in amounts of as much as €1,500.

Other Engega Plan advantages include, for instance, free installation of a charging station in the aid recipient’s home, free recharging at public charging stations and exemption from the vehicle ownership tax.

MoraBanc has attempted to make it easier to purchase these vehicles with its eco-car loan, a five-year loan under very good conditions.

In general, distances in Andorra are quite short, and many trips occur fully within the urban zone, so an electric car or plug-in hybrid may be a good option for those trying to decide whether to get an eco-friendly car.

Please remember that MoraBanc offers you the Eco-Cotxe loan, for people who are interested in buying a plug-in electric or hybrid vehicle, with an attractive interest rate and no opening or cancelling commissions.

You can also ask for our available range of loans directly at any MoraBanc branch or call us at +376 884 884.