Contact expands green financing, launches electric car financing program

Daily News Egypt
4 Min Read

Contact Financial Holding, the non-banking financial services provider, has announced the launch of an innovative new financing program for electric vehicles. This new product is part of the company’s commitment to environmental sustainability and supporting the transition to a greener future, as the world is currently facing enormous environmental challenges due to the effects of air pollution and climate change. One of the main solutions to these challenges is to encourage the use of electric vehicles, which are a sustainable and clean alternative to traditional fuel-powered cars.

They are powered entirely by renewable electric power, reducing carbon dioxide emissions and air pollution.

The use of electric vehicles helps achieve environmental sustainability goals and reduce negative environmental impact.

The new product offers a wide range of features designed specifically to meet the needs of customers and facilitate the process of acquiring electric cars, with a down payment starting from 20%, optional insurance, repayment periods of up to five years, and the possibility of full or partial early repayment starting from the first month without early settlement fees. Contact is also currently studying the possibility of financing electric trucks and electric motorcycles, considering the global shift towards environmental awareness and reducing environmental hazards, as electric transportation is an innovative and promising solution to reduce carbon emissions and improve air quality in cities.

Tamer Samir, Managing Director of Contact Credit, said: “We are proud to launch our new electric vehicle financing product, which can play a crucial role in improving the customer experience. This product is a future investment and an opportunity to attract more customers. Financing electric vehicles is also a good opportunity to grow and expand in the automotive market.”

Samir also stressed that they are keen to meet the needs of customers and provide them with suitable financial solutions to facilitate the financing process. They are committed to providing excellent customer experience and meeting their expectations and needs, providing comprehensive information about electric vehicles and their features, and ensuring outstanding and effective after-sales support.

Said Zater, CEO of Contact Financial Holding, added: “We believe in the environmental and economic value of sustainability. Through the Electric Vehicle Finance Product, we seek to empower individuals and communities to realize their vision of a sustainable and clean future. We recognize that sustainability is not just the responsibility of individuals, but also the responsibility of companies.

Therefore, we are proudly announcing that we have adopted a range of initiatives aimed at supporting environmental sustainability and launched the Electric Vehicle Finance product alongside the Green Finance product that we launched at the end of 2022. Also, we at Contact provide a variety of financial options that suit all customers’ needs, and this is done through Contact branches spread throughout Egypt. We do our best to develop comprehensive financial solutions while maintaining flexibility and convenience.”

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