Scotiabank announced a new loan program for Canadians considering the purchase of new, more eco-friendly automobiles. The Scotiabank EcoLiving Auto Loan program provides competitive loan pricing on a wide array of 2011 and 2012 hybrid, electric and clean diesel vehicles.
“There is rising interest in green vehicles and consumers need the right information and financing choices to make the switch to greener technologies,” said Ron Porter, Senior Vice-President Automotive Finance and Indirect Lending, Scotiabank. “With the help of the EcoLiving Auto Loan, we can give dealers a powerful financing tool to put their customers behind the wheel of green vehicles.”
Porter says there is considerable potential for green car sales in Canada. Canadian car-buyers have embraced hybrids, making Canada the third largest market for hybrid vehicles, after the U.S. and Japan. According to Scotiabank Senior Economist, Carlos Gomes, there has been a significant acceleration in sales of green vehicles over the past six months with volumes expanding at a robust double-digit pace.
The new auto financing option is part of the Scotiabank EcoLiving program, which provides Canadian homeowners with resources that help save money, reduce energy usage and contribute to a healthier home and planet.
In launching the EcoLiving Auto Loan program, Scotiabank also announced a $25,000 donation to the Nature Conservancy of Canada (NCC), and Scotiabank Dealer Finance has pledged to make a $10 donation to the NCC for each loan booked under the new program.
“Scotiabank is committed to corporate social responsibility,” said Porter. “We support the environment by introducing environment-friendly initiatives that give our customers more “green” choices and by making charitable donations to organizations like the Nature Conservancy of Canada.”
“NCC is pleased to be working with Scotiabank. Since 1962, NCC and our partners have helped to conserve more than one million hectares of ecologically significant land nationwide,” said Lynn Gran, Vice-President of Strategic Philanthropy for NCC. “Through the EcoLiving Auto Loan donation program, funds will go towards our stewardship work which will increase our ability to protect Canada’s critical natural areas and endangered species.”
The Scotiabank EcoLiving Program launched in June, 2010. The website, www.scotiabank.com/ecoliving, is an online consumer resource that provides home greening options together with government rebate and financial savings information all in one place — providing an easy-to-use resource for Canadians to learn about, plan and compare green home improvement options.
