Electric Car Loan
We offer competitive rate electric car loans, and discounts for electric vehicles. Thanks to our collaboration with Clean Energy Finance Corporation (CEFC).
Multi-award winning
Variable Car Loan
Green/Electric
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Discounted rate on qualifying electric cars -
Redraw up to $5,000/day for variable rates
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Up to 7 year loan term
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Variable rate adjusts with interest rate changes
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Get Preapproved to confidently secure your car financing
Why choose an Electric Car Loan?
Approval within 24 hours~
By applying online, you’ll receive our decision within a day you’ll know your budget for your dream EV car!
From 3 - 7 year loan term
Enjoy the flexibility of 3 to 7 years loan term, and you decide if you pay weekly, fortnightly or monthly.
$5,000 to $150,000
We offer car loans from as little as $5,000 to get you on the road in the right car for you.
Fixed or variable
Choose either a low rate variable loan and redraw up to $5,000 per day, or a low rate fixed loan.
Need to know more? Here's the whole offer
| Rates |
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| Key Features | Flexible loans | |
| Approval within 24 hours~ | ||
| Borrow from $5,000 to $150,000 | ||
| Easy online process | ||
| Access your account via Smart Money app |
| Repayments | Frequency | Weekly, monthly or fortnightly |
| Estimated repayments | $163 per week# The weekly repayment estimate is based on a $45,000 loan over 7 years at 5.84% p.a. paying variable rate. |
| Fees |
Application fee |
$400 |
| Monthly fee | $8 | |
| Discharge fee | $0 | |
| Early termination fee | $700 in the first and second years of the loan term. $500 in subsequent years of the loan term (excluding final year). |
Variable |
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| Variable Car Loan - Green/Electric | Interest Rate: 5.84% p.a.** |
| Comp Rate: 6.97% p.a.* |
Fixed |
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| Fixed Car Loan - Green/Electric | Interest Rate: 6.09% p.a.** |
| Comp Rate: 7.22% p.a.* |
| Flexible loans | |
| Approval within 24 hours~ | |
| Borrow from $5,000 to $150,000 | |
| Easy online process | |
| Access your account via Smart Money app |
| Frequency | Weekly, monthly or fortnightly |
| Estimated repayments | $163 per week# The weekly repayment estimate is based on a $45,000 loan over 7 years at 5.84% p.a. paying variable rate. |
| Application fee | $400 |
| Monthly fee | $8 |
| Discharge fee | $0 |
| Early termination fee |
$700 in the first and second years of the loan term. $500 in subsequent years of the loan term (excluding final year). |
Real-life customer stories
Derek
As seen on...
Our car loan application process
Apply Online
Complete your car loan application through our online platform.
Speak to your Specialist
Chat with your lending specialist, who’ll guide you through the next steps and help you secure pre-approval.
Upload & Track
Submit your documents and monitor your application in real time via our onTrack portal.
Approval & Signing
Review and sign your car loan documents and loan agreement via onTrack.
Settlement
After your car loan settles, the funds will be ready and paid directly to the seller.
Manage Your Loan
You'll receive your login details to manage your repayments and account details via our Smart Money app.
Electric Car Loan FAQs
Most electric vehicles will come with a portable charger that can be plugged in to a standard household unit. Otherwise, there are a number of public charging points available throughout Australia, with an increasing number of charging stations being implemented as electric vehicles grow in popularity.
There are a number of government incentives to buy an electric car, many of which vary depending on your state or territory. Incentives sometimes include a reduction in stamp duty, or even a full waiver of the stamp duty charge, offers for free registration for a short period of time, and sometimes cash rebates. It’s best to check your local government websites, as these offers are frequently changing.
Depending on your personal financial circumstances such as your credit score, your ability to pay back the loan and the lender you choose, you may be eligible for an electric vehicle loan, similar to any other car loan.
Typically to be eligible for a car loan, you’ll need to hold Australian citizenship or permanent residency, be over the age of 18, and earning some income. There may be further eligibility requirements depending on which lender you go with. It is best to seek a pre-approval from your lender to determine your eligibility.
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Insurance and registration are generally the same as a normal petrol car.
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Running costs:
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Petrol: Aussies drive on average 15,000km each year, which totals to approximately $2,400 in petrol (calculated based on 8litres per 100km travelled, $2.00 fuel cost.)
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Electric vehicles cost only approx $20.83 to fully charge (which will typically result in 450km of travel), totalling to about $694 per year.
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Regular services are still required for electric vehicles, however these can be up to half the cost of a normal service.
Just like any other car, you can finance an electric vehicle for anywhere between 1-7 years, depending on the lender you choose and their loan term offerings. At loans.com.au, we typically offer electric vehicle loans for a term of 3 to 7 years.
Andrew
Lending Specialist
Ready to talk with a real person about our low-rate car loan?
Get help from a friendly member of our Australian-based car lending team.
A guide to car loans
If you are looking at car finance to purchase your next car and have lots of questions, our guide contains our loan process, what documents you'll need, preapproval, tips and more.
We're help to help you when you may need us.
Electric Cars vs Petrol Cars: Cost Breakdown
Here we’ll break down the cost-based factors for both electric and petrol cars to help you decide which is right for you.
Electric Car Rebates by State
Check out the electric vehicle rebates in your state or territory
The Rise of Electric Cars in Australia
In this article, we take a closer look at electric car trends, ownership, and incentives with data from the Australian Electric Vehicle Industry Recap 2023 by the Electric Vehicle Council.
Can you get a discount for buying an electric vehicle?
What is a green car?
Electric Cars & Hybrid Cars: What’s the difference?
The Pros and Cons of Buying an Electric Car
The state of Australia’s EV Infrastructure
Buying an Electric Car
Electric Car Batteries Explained
How much can electric cars really save you?
Maintenance for Electric Cars vs Petrol Cars
