loans.com.au Green Car Loan
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- Application Fee
- $400
- Interest Rate (p.a.)
- 5.94% (variable)
- Comparison Rate (p.a.)
- 7.07%
- Max Loan Amount
- $150,000
Summary
A green car loan with a starting interest rate in the top 10% of our database.The loans.com.au Green Car Loan stands out with a minimum rate in the top 10% of our database. However this is balanced by potentially high costs.
Its maximum rate and application fee are both in the top 25% of more expensive loans we compare. The ongoing monthly fee is also in the top half of higher fees. This loan scored 8.2 in our Finder Score analysis.
Details
loans.com.au - Green Car Loan Variable
| Product Name | loans.com.au - Green Car Loan Variable |
| Interest Rate (p.a.) | 5.94% to 16.64% |
| Comp. Rate (p.a.) | 7.07% to 17.76% |
| Interest Rate Type | Variable |
| Min Loan Amount | $10,000 |
| Max Loan Amount | $150,000 |
Main points to consider with the loans.com.au green car loan
This loan comes with a fixed rate from 6.99% p.a. and a comparison rate of 8.12% p.a. Loan terms are 3 years to 7 years. There is a one-off single establishment fee of $400 and $8 monthly account-keeping fees associated with this loan.
Borrowers for the green car loan can apply entirely online. If you're approved for a loan, payment for your new car will be made directly to the dealer.
How does loans.com.au - Green Car Loan Variable compare?
- A competitive starting rate. Its minimum interest rate of 5.94% is in the top 10% of lower rates in our database.
- Potentially high maximum rate. The maximum rate of 16.64% is in the top 25% of higher rates on the market.
- A higher than average application fee. The $400 application fee is in the top 25% of higher fees in our database.
- Ongoing fees to consider. An $8 monthly fee puts this loan in the top half of higher ongoing fees.
Features of a loans.com.au green car loan
Features associated with a loans.com.au green car loan include:
- Easy application. Apply entirely online in a matter of minutes.
- Straightforward transaction. Money for your new car will be paid directly to the dealer, so transactions are fuss-free.
- Flexible loan amount. Borrow any amount from $10,000 to $150,000.
- Fixed rate. This loan has a fixed interest rate from 6.99% p.a. and a comparison rate from 8.12% p.a.
- Loan term. Borrow the money for a period of 3 years, 4 or 7 years.
- Early repayment option. Repay your loan early and without penalty if you're in the last 12 months of your loan term.
- Lower emissions. Purchasing a green car using this loan is better for the environment than other types of vehicle.
- Lower running costs. Better fuel efficiency usually equals cheaper running costs, so you could save more money in the long run.
Fees and charges
- Establishment fee. $400
- Monthly fee. $8
- Early repayment fee. This will apply if the loan is paid off before the last 12 months of the loan term.
You will not be required to pay an early repayment fee if you pay off the loan within the last 12 months of the agreed term.
How to apply for a loans.com.au green car loan
You can apply for the loans.com.au green car loan by clicking "Go to site" and completing the application. The application process should take approximately 15 minutes to complete.
Eligibility criteria
- Over the age of 18
- A resident of Australia
- Be purchasing a car that is a new or demonstration vehicle, more fuel-efficient than average cars of its size.
Documentation
You'll need to provide:
- Proof of identity
- Proof of income
- Details of your assets and liabilities
Remember, it's always important to compare your car loan options prior to submitting an application
Sources
Your reviews
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