AM Online

Alphera launch new used car finance to offset carbon emissions

Alphera partner with BuyaCar to launch Alphera Zero

Alphera Financial Services is partnering with BuyaCar to launch Alphera Zero, a finance product that allows consumers to offset carbon emissions from used hybrids and plug-in hybrids.

Alphera Zero allows customers to purchase a used hybrid or plug-in hybrid vehicle (PHEV), and offset all its carbon emissions through their term of ownership.

Last month, Alphera reported a 75% growth in the number of customers using its digital and online platforms

Electric vehicle (EV) enquiries soared by 500% after the Government made announcement that it plans to ban the sale of cars and vans powered wholly by petrol or diesel engines in 2030.

Spencer Halil, director at Alphera, said: “As the UK enters a new era of electromobility we want to help consumers with the transition into some form of electrified vehicle.

“Alphera Zero offers used car buyers the opportunity to fully exploit plug-in and hybrid technology for themselves while reducing their impact on the environment.

“Given public appetite for more sustainable ways of living and modes of travel, we expect Alphera Zero to be popular.”

Alphera is working with Carbon Footprint to offset the emissions of vehicles financed through Alphera Zero, through tree planting programmes.

Alphera won the 2019 AM Award for Best New Product or Service, in 2019. 

If it’s initial six-month partnership with BuyaCar proves to be successful with consumers, Alphera will explore options to expand the scheme, said the company.

The latest AM industry special issue

The presence of a powerful and active regulator in the marketplace, the Financial Conduct Authority, means there has never been the attention given to the critical driver of new and used car markets, point of sale finance and insurance. 

Plus, with the Consumer Duty soon to be introduced, no automotive manager can afford to relax - or not read our new special report.

The potential risks from failure are substantial. 

Legal experts and finance houses share their views in our Spotlight on Finance & Insurance.

Read now

Click here for finance and insurance best practice and procurement insight

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment


No comments have been made yet.