LCA - FAQ - How much does it cost to run an EV?

Insurance and registration are generally the same as a normal petrol car. Running costs: 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.) Electric vehicles cost only approx $20.83 to fully charge (which will typically result in 450km of travel), totalling to about $694 per year. Regular services are still required for electric vehicles, however these can be up to half the cost of a normal service.

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

5.84

p.a

Rates from**

6.97

p.a

Comparison rate*

Discounted rate on qualifying electric cars
Redraw up to $5,000/day for variable rates
Up to 7 year loan term
Variable rate adjusts with interest rate changes
Get Preapproved to confidently secure your car financing

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Our Google Rating

4.5

476 reviews

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

Variable	Interest Rate:	Comparison Rate:
Variable Car Loan - Green/Electric	5.84% p.a.**	6.97% p.a.*

Fixed	Interest Rate:	Comparison Rate:
Fixed Car Loan - Green/Electric	6.09% p.a.**	7.22% p.a.*

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. View car loan calculator

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).

Rates

Variable

Variable Car Loan - Green/Electric	Interest Rate: 5.84% p.a.**
	Comp Rate: 6.97% p.a.*

Fixed

Fixed Car Loan - Green/Electric	Interest Rate: 6.09% p.a.**
	Comp Rate: 7.22% p.a.*

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. View car loan calculator

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).

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09 Apr 2025

Each experience has been smooth and reliable

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Kevin W.

08 Apr 2025

Incredibly helpful throughout the process

“Sharon and Team at loans.com were amazing. She was happy to answer and explain all my questions thoroughly. Every interaction with Sharon and the Team was supportive, willing to listen and provide help when needed. Will definitely recommend Loans.com especially working with Sharon and Lee Li.„

Aman P.

01 Apr 2025

Very helpful, making the process easy

“The staff were very helpful, making the process easy. I was slow at times to respond but they cheerfully dealt with this until I was approved. I am very impressed.„

Kendall H.

01 Apr 2025

Straightforward

“Straightforward, pleasant, very helpful staff.„

Liz M.

30 Mar 2025

Very helpful and understanding

“Tannah was very helpful and understanding. It's been a very smooth process and great communication on their part!„

Billy T.

28 Mar 2025

Very smooth

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Maree L.

27 Mar 2025

Lowest interest rates and easy service

“Returning to loans.com.au for lowest interest rates and easy service.„

Kylie H.

14 Mar 2025

Smooth and fast process

“Friendly customer service. Smooth and fast process without any hassle. Had the loan settled within 2 days of providing necessary documents. A big thank you to Cherie and Rena for their kind and prompt assistance„

Surani F.

14 Mar 2025

Great service

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Danny K.

02 Mar 2025

Excellent Service & Fast Process!

“I had a fantastic experience with Loans.com.au. Their advisors were friendly, clear, and ensured my application was in top shape before submission, maximizing the chances of approval. I was thrilled that the entire process was completed in just one day, with settlement happening the very next day! Special thanks to Aichi and Liam for their outstanding support. Highly recommend!„

Sai P.

03 Feb 2025

Excellent communication

“Excellent communication that was timely and thoughtful. Thank you to Sharon for her help through this process.„

Bek D.

27 Jan 2025

Our Google rating

4.5 476 reviews

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It's fast & easy to get a loan with loans.com.au

Apply online

Simply fill out your loan application online by entering some of your details, or chat to one of our friendly lending specialists over the phone and they can complete your application for you.

Speak to a specialist

You will then have a phone appointment with one of our lending specialists to finalise your application, and help you progress through the loan approval process through to settlement as quickly as possible.

Upload documents (OnTrack)

After your application is complete, use our system we call onTrack on your desktop or device to add your documentation such as payslips and bank statements, and track the progress of your application.

Settle

Your loan will settle and you'll start enjoying the benefits of your low-rate car loan!

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How it works

Electric Car Loan FAQs

How do you charge an EV?

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.

Are there any government incentives to buy an electric car?

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.

Am I eligible for EV financing?

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.

How much does it cost to run an EV?

Insurance and registration are generally the same as a normal petrol car.
Running costs:
- 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.)
- Electric vehicles cost only approx $20.83 to fully charge (which will typically result in 450km of travel), totalling to about $694 per year.
Regular services are still required for electric vehicles, however these can be up to half the cost of a normal service.

How long can you finance an electric vehicle for?

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.

Konnie

Lending Specialist

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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.

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Electric Car Loan

Variable Car Loan
Green/Electric

Why choose an Electric Car Loan?

Work out your car loan repayments

Your loan details

Variable Car Loan - Green/Electric