loans.com.au Green Car Loan

Main points to consider with the loans.com.au green car loan

This loan comes with a fixed rate from 6.84% p.a. and a comparison rate of 7.97% 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?

• Competitive interest rate. This loan's minimum interest rate of 5.94% p.a. places it in the top 8% of car loans we've analysed.
• Low monthly fee. You'll pay a monthly fee of $8 which is lower than the market average.
• Flexible repayment options. You can align your repayments to your pay cycle with flexible weekly, fortnightly or monthly options.
• High Finder Score. This product has a high Finder Score of 8.1 which reflects our view of the product's rates fees and features.

• The advertised rate isn't for everyone. The lowest interest rate is reserved for applicants with an excellent credit history so you may be offered a higher rate.
• There is an ongoing fee to consider. While its $8 monthly fee is lower than the market average you should be aware that some competing lenders charge no ongoing account keeping fees at all.
• You will need to budget for an upfront fee. The loan comes with a $400 application fee which you'll need to pay upfront unlike some other car loans on the market that charge no establishment 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 6.84% p.a. and a comparison rate from 7.97% 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