Does an Auto Loan for the BYD Song Plus EV Make Sense
The workday ends late, the commute across the city is long, taxi fares keep rising, and car rentals are not always convenient. Over the course of a month, these trips quietly add up to a noticeable amount. At some point, you catch yourself thinking that having a car would simply make life easier.
Saving up for a car may seem like a more balanced and cautious decision. But in real life, postponing a purchase for a long time is not always possible — especially when a car is needed to solve specific everyday tasks and waiting is simply inconvenient.
In such cases, an auto loan becomes a practical option. The key condition is that the payment burden is clear in advance and remains within a reasonable budget. Just like on the road, financial decisions require caution and an honest assessment of one’s capabilities.
An auto loan is not suitable for everyone and not in every situation.
However, it can make sense when purchasing a car solves specific tasks and improves quality of life right now. For example, if a car is needed for regular family trips around the city, weekend getaways, or travel outside the city.
Vitaliy Savin, Head of the Auto Lending Department, Ipoteka Bank OTP Group:
“In some cases, a loan can also be convenient from a financial perspective. For example, part of the amount can be paid upfront, while the remaining funds are placed in a deposit. If the loan rate is around 11.9% and the deposit yields approximately 20% per year, this approach may be more reasonable than paying the full amount at once. Especially since early repayment is available without penalties or fees, and the decision can always be reconsidered”
An auto loan can also be considered when most of the funds are already available, and the missing amount can be covered over a short period of time. With a moderate payment load, the overpayment becomes less significant, while financial flexibility is preserved.
Electric vehicles are commonly associated with environmental friendliness, and their popularity continues to grow. In practice, however, the choice is often driven by everyday needs. City life, work, daily routes. Running errands, occasional trips outside the city or into the mountains. The desire to spend less on fuel and be less dependent on gas stations and fuel prices.
For everyday use, an electric car often turns out to be a convenient solution.
Vitaliy Savin, Head of the Auto Lending Department, Ipoteka Bank OTP Group:
“Today, the difference in operating costs between a gasoline car and an electric vehicle is approximately six to seven times. With an annual mileage of around 15,000 kilometers, savings on energy alone can exceed 10 million UZS. In 2026, the average gasoline price in Uzbekistan is about 13,500 UZS per liter, and with a consumption of 8 liters per 100 kilometers, a trip costs roughly 100,000–110,000 UZS. An electric vehicle covers the same distance using about 15–20 kWh, which at a tariff of around 900 UZS per kWh amounts to just 15,000–18,000 UZS”
If we look at an electric vehicle specifically for these tasks, a concrete example helps. The BYD Song Plus EV behaves calmly and predictably in everyday driving. It does not tire the driver in traffic jams and does not create unnecessary stress during routine trips. When needed, it is also suitable for trips outside the city. The car is comfortable for family travel, does not require constant attention, and does not create the feeling that owning a car is a continuous source of problems.
In Uzbekistan, electricity costs are generally lower than fuel expenses
Daily trips within 220–250 kilometers easily fit into a typical usage pattern. Depending on the version, the stated driving range reaches up to approximately 600 kilometers. In real-world conditions, it may be lower due to temperature, speed, or terrain, but it still leaves enough reserve to drive without constantly worrying about charging. And if you live in a private house, installing a personal charging station is an option, making usage even more convenient.
Vitaliy Savin, Head of the Auto Lending Department, Ipoteka Bank OTP Group:
“Electric vehicles require less frequent maintenance than cars with internal combustion engines. This is due to their simpler design and the absence of components such as an engine, complex transmission, spark plugs, oil and fuel filters, and regular oil changes. In most cases, scheduled maintenance for an electric vehicle is performed approximately once a year or every 12,000–20,000 kilometers and is limited to checking the battery, suspension, and braking system, as well as replacing the cabin filter”
The main drawback is also obvious. Electric vehicles require a significant investment, and such decisions are usually made with advance planning. In financial matters, as on the road, sudden maneuvers are best avoided. At the same time, not everyone finds it comfortable to save for several years and pay the full amount upfront. Sometimes, a car is needed now.
In everyday use, electricity costs are generally lower than fuel costs
In such situations, an auto loan can be one of the available tools if used thoughtfully. This is not about exceeding the budget, but about comparing the monthly payment to habitual expenses. If it feels comparable to what was previously spent on fuel and related costs, and the car helps reduce monthly expenses, the decision becomes less emotional. With clear and fixed terms, the question shifts from whether to take a loan to how best to distribute expenses over time.
Money and time operate under different rules.
While a decision is postponed, not only circumstances change, but market conditions as well. A car that seems expensive today rarely becomes more affordable over time. More often, waiting leads to additional expenses rather than savings.
Car prices rise, exchange rates fluctuate, and saving cash does not always deliver the expected result
There is another approach. Part of the amount is used as a down payment, while the rest is spread over time. The remaining funds continue to serve their purpose. For some, this is a financial safety cushion; for others, resources for different goals or simply peace of mind. In this logic, money continues to work, the car continues to drive, and these processes do not interfere with each other.
When deciding to purchase a car with a loan, it is important to rely on your financial capacity. If you do not want to freeze the entire amount at once, if comfort matters no less than numbers, and if the monthly payment fits naturally into your regular spending pattern, then purchasing the BYD Song Plus EV with an auto loan looks like a well-grounded decision.
Saving up for a car may seem like a more balanced and cautious decision. But in real life, postponing a purchase for a long time is not always possible — especially when a car is needed to solve specific everyday tasks and waiting is simply inconvenient.
In such cases, an auto loan becomes a practical option. The key condition is that the payment burden is clear in advance and remains within a reasonable budget. Just like on the road, financial decisions require caution and an honest assessment of one’s capabilities.
Who an Auto Loan May Be Right For
An auto loan is not suitable for everyone and not in every situation.
However, it can make sense when purchasing a car solves specific tasks and improves quality of life right now. For example, if a car is needed for regular family trips around the city, weekend getaways, or travel outside the city.
Vitaliy Savin, Head of the Auto Lending Department, Ipoteka Bank OTP Group:
“In some cases, a loan can also be convenient from a financial perspective. For example, part of the amount can be paid upfront, while the remaining funds are placed in a deposit. If the loan rate is around 11.9% and the deposit yields approximately 20% per year, this approach may be more reasonable than paying the full amount at once. Especially since early repayment is available without penalties or fees, and the decision can always be reconsidered”
An auto loan can also be considered when most of the funds are already available, and the missing amount can be covered over a short period of time. With a moderate payment load, the overpayment becomes less significant, while financial flexibility is preserved.
Why More People Are Choosing Electric Vehicles
Electric vehicles are commonly associated with environmental friendliness, and their popularity continues to grow. In practice, however, the choice is often driven by everyday needs. City life, work, daily routes. Running errands, occasional trips outside the city or into the mountains. The desire to spend less on fuel and be less dependent on gas stations and fuel prices.
For everyday use, an electric car often turns out to be a convenient solution.
Vitaliy Savin, Head of the Auto Lending Department, Ipoteka Bank OTP Group:
“Today, the difference in operating costs between a gasoline car and an electric vehicle is approximately six to seven times. With an annual mileage of around 15,000 kilometers, savings on energy alone can exceed 10 million UZS. In 2026, the average gasoline price in Uzbekistan is about 13,500 UZS per liter, and with a consumption of 8 liters per 100 kilometers, a trip costs roughly 100,000–110,000 UZS. An electric vehicle covers the same distance using about 15–20 kWh, which at a tariff of around 900 UZS per kWh amounts to just 15,000–18,000 UZS”
If we look at an electric vehicle specifically for these tasks, a concrete example helps. The BYD Song Plus EV behaves calmly and predictably in everyday driving. It does not tire the driver in traffic jams and does not create unnecessary stress during routine trips. When needed, it is also suitable for trips outside the city. The car is comfortable for family travel, does not require constant attention, and does not create the feeling that owning a car is a continuous source of problems.
In Uzbekistan, electricity costs are generally lower than fuel expenses
Daily trips within 220–250 kilometers easily fit into a typical usage pattern. Depending on the version, the stated driving range reaches up to approximately 600 kilometers. In real-world conditions, it may be lower due to temperature, speed, or terrain, but it still leaves enough reserve to drive without constantly worrying about charging. And if you live in a private house, installing a personal charging station is an option, making usage even more convenient.
Vitaliy Savin, Head of the Auto Lending Department, Ipoteka Bank OTP Group:
“Electric vehicles require less frequent maintenance than cars with internal combustion engines. This is due to their simpler design and the absence of components such as an engine, complex transmission, spark plugs, oil and fuel filters, and regular oil changes. In most cases, scheduled maintenance for an electric vehicle is performed approximately once a year or every 12,000–20,000 kilometers and is limited to checking the battery, suspension, and braking system, as well as replacing the cabin filter”
The main drawback is also obvious. Electric vehicles require a significant investment, and such decisions are usually made with advance planning. In financial matters, as on the road, sudden maneuvers are best avoided. At the same time, not everyone finds it comfortable to save for several years and pay the full amount upfront. Sometimes, a car is needed now.
In everyday use, electricity costs are generally lower than fuel costs
In such situations, an auto loan can be one of the available tools if used thoughtfully. This is not about exceeding the budget, but about comparing the monthly payment to habitual expenses. If it feels comparable to what was previously spent on fuel and related costs, and the car helps reduce monthly expenses, the decision becomes less emotional. With clear and fixed terms, the question shifts from whether to take a loan to how best to distribute expenses over time.
Convenience, savings, and sustainability - BYD Song Plus EV car loan.
Why Waiting Is Not Always Beneficial
Money and time operate under different rules.
While a decision is postponed, not only circumstances change, but market conditions as well. A car that seems expensive today rarely becomes more affordable over time. More often, waiting leads to additional expenses rather than savings.
Car prices rise, exchange rates fluctuate, and saving cash does not always deliver the expected result
There is another approach. Part of the amount is used as a down payment, while the rest is spread over time. The remaining funds continue to serve their purpose. For some, this is a financial safety cushion; for others, resources for different goals or simply peace of mind. In this logic, money continues to work, the car continues to drive, and these processes do not interfere with each other.
When deciding to purchase a car with a loan, it is important to rely on your financial capacity. If you do not want to freeze the entire amount at once, if comfort matters no less than numbers, and if the monthly payment fits naturally into your regular spending pattern, then purchasing the BYD Song Plus EV with an auto loan looks like a well-grounded decision.
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