loans.com.au Green Car Loan
- Application Fee
- $400
- Interest Rate (p.a.)
- From 6.09% (fixed)
- Comparison Rate (p.a.)
- 7.21%
- Max Loan Amount
- $150,000
Summary
Get a discounted low rate when you buy a qualifying, eco-friendly car.
loans.com.au's Green Car Loan offers a 1% discount on interest rate. The loans.com.au Green Car Loan is available to purchase qualifying cars that are:
- Electric vehicles
- A vehicle must have a battery instead of a petrol tank
- An electric motor instead of a normal engine
This loan is the result of a partnership with the Clean Energy Finance Corporation.
Details
loans.com.au - Green Car Loan Fixed
| Product Name | loans.com.au - Green Car Loan Fixed |
| Interest Rate (p.a.) | 6.09% to 7.29% |
| Comp. Rate (p.a.) | 7.21% to 8.41% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| 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 6.09% p.a. and a comparison rate of 7.21% 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.
Features of a loans.com.au green car loan
Features associated with a loans.com.au green car loan include:
- Discount. Receive a 1% discount on the interest rate of a qualifying electric cars. This applies only on green cars purchased from dealers.
- 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 $150,000.
- Fixed rate. This loan has a fixed interest rate from 6.09% p.a. and a comparison rate from 7.21% 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
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