Electric Vehicle Purchase Loan Application

Simplify Your Electric Vehicle Financing with Paperform

Switching to an electric vehicle is a smart financial and environmental decision—but navigating the loan application process, understanding total costs, and claiming tax incentives can feel overwhelming. This Electric Vehicle Purchase Loan Application template is designed to help banks, credit unions, auto lenders, and green financing providers streamline the entire EV loan process while giving applicants clarity on the true cost of ownership.

Why This EV Loan Application Template Works

Unlike generic loan forms, this template is purpose-built for the unique needs of electric vehicle financing. It walks applicants through vehicle selection, calculates charging infrastructure costs, estimates available tax incentives, and provides a comprehensive total cost of ownership comparison—all within a single, seamless application experience.

For financial institutions, auto finance companies, and credit unions, this means fewer follow-up questions, more complete applications, and better-informed borrowers who understand the full financial picture before committing. For applicants, it means transparency, confidence, and a faster path to driving their new EV.

What Makes This Template Essential for EV Financing

Vehicle Selection & Pricing: Applicants can specify their desired EV make, model, trim level, and features, along with purchase price and trade-in value. The form captures all the details lenders need to assess the loan amount and vehicle collateral.

Charging Infrastructure Costs: One of the most overlooked aspects of EV ownership is home charging setup. This template includes dedicated fields for home charger installation costs, electrical panel upgrades, and permit fees—giving both lenders and borrowers a realistic picture of upfront expenses.

Federal & State Tax Incentives: The form helps applicants determine their eligibility for federal EV tax credits and state-level rebates, automatically factoring these savings into the total cost calculation. This transparency helps borrowers understand their net investment and can improve loan approval rates.

Total Cost of Ownership Calculator: Built-in calculations compare the five-year cost of owning an EV versus a comparable gas vehicle, factoring in fuel savings, maintenance costs, insurance, and depreciation. This powerful feature helps applicants see the long-term value of their decision and strengthens their confidence in the purchase.

Comprehensive Applicant Information: The form collects all standard loan application details—personal information, employment history, income verification, credit authorization, and co-applicant details—ensuring lenders have everything they need for underwriting.

Designed for Modern Lending Workflows

This template is built on Paperform's flexible platform, which means you can easily customize it to match your institution's brand, lending criteria, and compliance requirements. Use conditional logic to show different questions based on applicant responses, automatically route applications to the right loan officers, and integrate submissions directly into your CRM or loan management system.

For institutions using Stepper (stepper.io), you can turn each submission into a multi-step approval workflow—automatically pulling credit reports, sending document requests, coordinating vehicle inspections, and keeping applicants informed at every stage. This level of automation reduces manual work and speeds up the time from application to approval.

If you need borrowers to sign loan agreements, disclosure documents, or security agreements, Papersign (papersign.com) seamlessly converts your approved loan terms into legally binding eSignature documents, keeping everything connected to the original application for a complete audit trail.

Who This Template Is Perfect For

This Electric Vehicle Purchase Loan Application template is ideal for:

• Banks and credit unions offering green vehicle financing programs
• Auto finance companies specializing in EV loans and leases
• Dealership finance departments providing in-house EV financing
• Green lending initiatives focused on sustainable transportation
• Online lenders targeting environmentally conscious borrowers
• Community development financial institutions (CDFIs) supporting clean energy adoption

The template works equally well for new and used EV purchases, and can be adapted for lease financing or refinancing existing vehicle loans.

Built for Compliance, Speed, and Borrower Experience

In consumer lending, trust and transparency are everything. This template is designed to meet standard lending disclosure requirements while maintaining a clean, professional applicant experience. You can easily add required legal disclaimers, privacy notices, and terms and conditions, and Paperform's SOC 2 Type II compliance and data security features ensure sensitive financial information is protected.

The doc-style editor makes it simple to update loan terms, adjust interest rate calculators, or modify eligibility criteria without needing a developer. Marketing and lending operations teams can own the entire application experience and make changes in real time as programs evolve.

Get Started in Minutes

Whether you're launching a new EV financing program or modernizing an existing loan application process, this template gives you a professional, conversion-optimized starting point. Customize the questions, add your branding and loan products, connect your existing tools via native integrations or Stepper workflows, and start accepting applications immediately.

With built-in cost calculators and tax incentive guidance, you'll not only streamline your lending process—you'll also empower borrowers to make smarter, more confident decisions about their electric vehicle purchase. That's good for your business, good for your customers, and good for the planet.