EV or Hybrid: Which New Vehicle Is Right for You?

Choosing your next vehicle isn’t as easy as it used to be. Beyond traditional gasoline-powered cars, more Filipinos are considering electrified vehicles as practical options for everyday driving—from fully electric vehicles (EVs) to hybrids (HEVs) and plug-in hybrids (PHEVs).

With more options now available, choosing the right one often comes down to everyday priorities like daily routine, driving habits, and long-term financial goals. When you’re ready to move forward, PSBank Auto Loan can help you move forward.

Understanding Your Efficient Options

In Metro Manila, many EVs, hybrids (HEVs), and plug-in hybrids (PHEVs) are exempt from the number coding scheme, allowing them to be driven any day of the week. As fuel prices continue to rise, electrified vehicles are also generally associated with lower fuel consumption, while fully electric models reduce reliance on fuel altogether.

When you’re ready to test the numbers, the PSBank Auto Loan Calculator helps you estimate the monthly amortization for your preferred vehicle and see how it comfortably fits into your lifestyle and budget.

Finding the right car comes down to what matches your daily routine best. If you’re still deciding which path to take, here’s a quick look at the three types of new energy vehicles available in the market today:

Why More Filipinos Are Considering the Shift 

You’ve probably noticed more cars on the road with green license plates, especially in city areas where daily traffic is part of the routine. For many drivers, that alone already signals how new energy vehicles are gradually becoming part of everyday mobility in the Philippines.

Under the Electric Vehicle Industry Development Act (EVIDA) or Republic Act No. 11697, electric and hybrid vehicles benefit from government incentives designed to make ownership more convenient—such as number coding exemptions and discounts on registration fees. Along with tax incentives that help lower vehicle costs, these measures are making new energy vehicles a practical option alongside traditional gas-powered cars.

Taking Your Choice into the Next Step

Once you’ve narrowed down which type fits your needs, PSBank Auto Loan helps make the next step more manageable with flexible payment terms and a loan decision in as fast as 24 hours.

Managing your monthly amortization is just as simple. You can settle payments through PSBank Mobile, PSBank Online, over-the-counter at any PSBank branch, or at 7-Eleven stores, among others. 

And here’s a bonus: when you make advance or excess payments, you automatically earn rebates through the Prime Rebate feature of your PSBank Auto Loan. That means you can reduce your total loan amount, shorten your loan term or even both.

As more electrified vehicles become part of the conversation, choosing your next vehicle becomes less about following trends and more about finding what fits your lifestyle, driving habits, and long-term plans. With PSBank by your side, the journey from planning your purchase to driving your new car home becomes simpler and more manageable.

Ready to drive home your next car? Apply for a PSBank Auto Loan today, visit www.psbank.com.ph or head to a PSBank branch near you. You can also get in touch with PSBank’s 24/7 Customer Experience team via (02) 8845-8888 or via LiveChat. Follow PSBank on Facebook, Instagram, X, and TikTok to learn more.