loans.com.au green car loan
Get a discounted low rate when you buy a qualifying, eco-friendly car.
Loans.com.au's Green Car Loan offers a 0.7% discount on interest rate. Participate in a promotion from 1 March 2020 to 30 November 2020 and get a chance to win a $1,000 fuel voucher in a prize draw.
The Loans.com.au Green Car Loan is available to purchase qualifying cars that are:
- New or demonstration vehicles
- More fuel efficient than average cars of their size
- Hybrid vehicles
Fuel efficient cars have the benefit of being better for the environment and having lower running costs, so they're an attractive prospect for conscientious consumers and the fiscally responsible.
This loan is the result of a partnership with the Clean Energy Finance Corporation.
Interest Rate (p.a.)
Comparison Rate (p.a.)
Max Loan Amount
Main points to consider with the loans.com.au green car loan
This loan comes with a fixed rate of 3.97% p.a. and a comparison rate of 4.51% p.a. Loan terms are 3 to 5 years and a balloon payment. There is a one-off single establishment fee of $400 and no 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.
Features of a loans.com.au green car loan
Features associated with a loans.com.au green car loan include:
- Discount. Receive a 0.7% discount on the interest rate of a qualifying new or demo green car. This applies only on green cars purchased from dealers.
- $1,000 voucher towards fuel. During the promotion period from 1 March to 30 November 2020, a winner will be drawn at the beginning of each month for a $1,000 fuel voucher.
- 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 $5,000 to $100,000.
- Interest rate. This loan has a competitive interest rate of 3.97% p.a. and a comparison rate of 4.51% p.a.
- Fixed rate. This loan has a fixed interest rate.
- Loan term. Borrow the money for a period of 3 years, 4 or 5 years.
- Balloon payment. Loans with a 3-year term have a maximum balloon payment of 50%, 4-year loans 40% and 5-year loans 30%.
- 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.
- Early repayment fee. This will apply if the loan is paid off before the last 12 months of the loan term.
There are no monthly ongoing fees associated with this loan. You will also 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.
- 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 or a hybrid
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.