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Low-rate EV finance for new and used electric cars

Whether you’ve had your eye on a Tesla for some time, or are just ready to try electric for your next car, we’re here to help make the finance process as easy as possible. When you drive electric, we’ll drive down your finance costs.

We also offer an optional balloon repayment for our electric car loans which can reduce your regular repayments. loans.com.au customers can get approval within 24 hours~, with no monthly, ongoing or annual fees on the loan, and there’s also the option to pay out your loan early.

We’re proud to offer an 0.7% interest rate discount on our car loans when you buy an electric vehicle, thanks to our electric car loan discount. Not only will you be saving on finance with a lower interest rate, but you’ll also be saving on fuel costs and maintenance costs for your new electric car.

Top reasons to choose this loan

Apply in minutes, approval in 24 hours~

Apply for an electric vehicle loan at the click of a button, and find out if you’ve been approved within a day.

No ongoing, monthly or annual fees

We won’t charge you any ongoing, monthly, or annual fees, so you can focus on paying your electric car loan off and owning your car sooner.

Loan terms for 3, 4 or 5 years

Enjoy the flexibility of choosing a car loan term of 3, 4 or 5 years, and you decide if you pay weekly, fortnightly or monthly.

Lower fuel and maintenance costs

Electric fuel costs far less compared to petrol for similar vehicle types. Plus, EVs don't have as many moving parts and are less likely to have problems, making servicing often cheaper.

Rising number of charging stations

As electric vehicles grow in popularity throughout Australia, there are additional charging stations being implemented, and government support funding charging stations in homes Australia-wide.

Zero emissions = better for the environment

Electric cars do not pump carbon dioxide emissions into the air and are a far more environmentally friendly choice than petrol cars.

Apply for an electric vehicle loan at the click of a button, and find out if you’ve been approved within a day.

We won’t charge you any ongoing, monthly, or annual fees, so you can focus on paying your electric car loan off and owning your car sooner.

Enjoy the flexibility of choosing a car loan term of 3, 4 or 5 years, and you decide if you pay weekly, fortnightly or monthly.

Electric fuel costs far less compared to petrol for similar vehicle types. Plus, EVs don't have as many moving parts and are less likely to have problems, making servicing often cheaper.

As electric vehicles grow in popularity throughout Australia, there are additional charging stations being implemented, and government support funding charging stations in homes Australia-wide.

Electric cars do not pump carbon dioxide emissions into the air and are a far more environmentally friendly choice than petrol cars.

Our Car Loan Interest Rates

Car Loan Type

Green - Hybrid or electric

Interest rate p.a.**

3.64%

4.89%

Comparison rate p.a.*

4.18%

5.44%

Rate Type

Variable

Fixed

Balloons available

No

Yes

Car Loan Type

New - Special^

Interest rate p.a.

3.74%

5.09%

Comparison rate p.a.

4.28%

5.64%

Rate Type

Variable

Fixed

Balloons available

No

Yes

Car Loan Type

New

Interest rate p.a.

4.34%

5.59%

Comparison rate p.a.

4.88%

6.14%

Rate Type

Variable

Fixed

Balloons available

No

Yes

Want to see more car loan options? Compare our car loans.

Calculate your car loan repayments.



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Ready to get started?

How to easily apply for an electric car loan

We make borrowing to buy your next car simple. Here’s how to get the keys to your secondhand car at a low rate in just a few easy steps.

Apply in minutes

Simply apply online for an electric car loan 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. It takes only 2 minutes to complete.

Submit your documentation

After your application is complete, use our app onTrack on your desktop or mobile device to log in and add your documentation such as payslips and bank statements, and track the progress of your application.

Preliminary approval

You'll then chat to one of our lending specialists to organise preliminary approval of your loan, and help you progress through the electric car loan approval process through to settlement as quickly as possible.

Purchase document & loan agreement

Check onTrack to receive your final approval and loan agreement. You must sign these and return them in to onTrack to progress to settlement.

Buy your car

Once your loan settles, we will make the payment to the dealership. You'll start saving with your new low rate, and get your keys to your new electric car!

Start saving with a low rate EV loan!

Once settlement is complete, we will send your login credentials to start managing your payments in the Smart Money app, and you’ll start saving with a low rate electric car loan.

Electric Car Loan FAQs

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, 4 or 5 years.

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.

  • 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 $1,800 in petrol (calculated based on 8litres per 100km travelled, $1.50 fuel cost.)

    • Electric vehicles cost only approx $12.80 to fully charge (which will typically result in 450km of travel), totalling to about $426 per year.

  • Regular services are still required for electric vehicles, however these can be up to half the cost of a normal service.

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.

Who is loans.com.au?

loans.com.au is a proudly Australian, award-winning online lender based in Brisbane.

Since we were founded in 2011, we have grown to become an industry leader with thousands of happy customers in every state and territory. We are powered by the strength of Firstmac, Australia’s leading non-bank lender. Firstmac has been operating successfully for over four decades and it has more than $13 billion in mortgages under management. Firstmac and loans.com.au are also Premier Sponsors of NRL team the Brisbane Broncos.

 

Our awards

Our Car Loans received 2021 Mozo Experts Choice Award, multiple 2021 RateCity Gold Awards, and 2020 Canstar 5-star Rating for Outstanding value, reflecting its status as one of Australia’s best value car loans.

See all our awards