How to Finance a Hydrogen Car

The hydrogen car remains an elusive prize for the average consumer. Car companies and research labs are refining hydrogen-fuel technology to ensure the safety of drivers. The low supply of hydrogen cars on the open market increase the sales price on first-generation vehicles. You'll need to think about ways to finance a hydrogen car that decrease your financial burden, and here they are.

Difficulty: Moderate

Instructions

1. Negotiate an agreement with a car manufacturer for reduced financing in exchange for showcasing a hydrogen car. You can decrease the expense of a hydrogen car lease by driving the car to auto shows, media events and other engagements on behalf of the manufacturer.

2. Seek sponsorship during public events for your hydrogen car to offset the monthly lease payments. You can race your hydrogen car at a local track and draw in regional sponsors who are interested in alternative fuels.

3. Cut down on the cost of leasing a hydrogen car by placing a large deposit during your time on the waiting list. Speak with a manufacturer representative about placing additional money on top of the required deposit to lower monthly payments.

4. Push a hydrogen car company to include out-of-area fees in your final financing agreement. The costs of shipping, storing and preparing your vehicle from an international car maker can be prohibitive for buyers with limited funds on hand.

5. Bring your old gas-fueled car to the dealership as a trade-in to finance your hydrogen car. This portion of the transaction is similar to a trade-in for another gas-fueled car because most hydrogen car purveyors own used car lots.

6. Request the assistance of local universities as you try to finance an experimental hydrogen car. University programs like the Center for Environmental and Research Technology at UC-Riverside can provide grants and student assistance for hydrogen conversions by consumers (see Resources below).

7. Reduce the monetary burden of purchasing hydrogen buses and trucks by using fleet finance services through major companies. Hydrogen vehicle manufacturers like Ford Motor Company offers fleet discounts and other incentives for businesses who help promote this new technology (see Resources below).

Tips & Warnings

• Avoid anxiety over the uncertainty of the hydrogen car by leasing your vehicle. Most companies lease out hydrogen cars as a way to promote the technology. Look for the most flexible lease agreement possible to avoid using obsolete technology in the future.

Resources

• UC-Riverside College of Engineering Center for Environmental and Research technology low-emission program
• Ford Motor Company hydrogen bus for fleet purchases
• Hydrogen Cars