loans.com.au - Green Car Loan Variable
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After a hybrid or an electric car?
You can save money with a green car loan in Australia plus do your part for the environment.
Many lenders now offer better rates on car loans for vehicles that are considered environmentally friendly.
Find out how green car loans work, benefits, how to apply, and compare loans below.
We currently don't have a partnership for that product, but we have other similar offers to choose from (how we picked these ):
A green car loan is any vehicle finance option available for cars that are better for the environment, generally meaning those with lower than average emissions. These include hybrid and electric vehicles, as well as normal cars with noticeably better fuel efficiency.
| Response | Gen Z | Gen Y | Gen X | Baby Boomers |
|---|---|---|---|---|
| No | 58.43% | 49.18% | 56.91% | 74.15% |
| Yes | 41.57% | 50.82% | 43.09% | 25.85% |
A green car loan effectively works the same as any other car loan. If you apply for a loan for a vehicle that meets the lender's definition of environmentally friendly, you will generally receive an interest rate discount of 0.5%-1% and may be exempt from certain fees.
In addition to a discounted rate, some lenders will also offset your carbon emissions for the term of the loan to help reduce your carbon footprint.
You will generally apply for a green car loan like you would any other car loan, and simply select the green car loan option during the application process.
While the list of eligible vehicles will vary by lender, a car may be eligible if it meets one or more of the following requirements:
Some of the popular car models that may be eligible include:
However, you will need to check with the specific lender to see if a certain vehicle is eligible, and not all versions of the same model will necessarily meet the criteria.
If you're just searching for a car that has a limited environmental impact, you can use the Government Green Vehicle Guide to find a vehicle.
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When you're shopping around for a new car, you surely want the cheapest car loan possible.
The best car loan isn't necessarily the one with the lowest rate. Learn how to spot the best car loans and compare 15+ car loan products with Finder.
You can still get a car loan if you want to finance a used car. Find out how you can get a used car loan and see what rates are available for the used car you want. Learn how to best compare lenders and apply for your loan today.
Know what your repayments will be for the duration of your loan term with a fixed rate car loan. As your loan is secured you can find competitive rates and lock them in at the beginning, keeping them low while you make ongoing repayments. Find out if the loan is right for you.
A variable rate car loan can give you a way to finance your new car purchase while letting you take advantage of any favourable interest rates should they become available. Compare your options today and see what's available.
Don't pay an outrageous interest rate on your next car loan – compare loans before you buy.