We listen, we care
Electric Vehicle Loans
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intellichoice
Is an Electric Vehicle Loan Worth It?
Australia is packed with vehicles – the country is now among the most polluting and least efficient worldwide. Over 19 million vehicles are used regularly, with cars being the largest source of transport emissions.
Car emissions have increased by 25% since the 90s, but there are technologies that can mitigate our CO2 footprint when it comes to transport use. Electric vehicles promote a more eco-friendly way for individuals who use cars daily.
Electric vehicle loans encourage a more sustainable lifestyle that saves the environment and saves you money in the process! Our financial experts can arrange the best package for your budget – lower interest rates and no fees required.
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intellichoice
Why Go Green?
Green cars do not rely on fossil fuel sources to keep running. This is a huge step to achieving sustainability goals because you are minimizing the carbon footprint that has wreaked havoc on the natural environment and our climate.
Electric vehicle loans make these relatively more expensive units more affordable. With our customized approach, you can choose among these low-emission cars and motorbikes:
- pure electric
- plug-in hybrid electric
- regenerative hybrid
- internal combustion engine that has less than 125 g/km Tailpipe CO2
Green cars have become more popular in recent years, indicative of the growing consciousness about environmental impact. But electric vehicle loans are still relatively new to the Australian lending market. We have a dedicated loan for your specific need to ensure that all Australian car users get the most reasonable rates.
Eyeing a Green Car?
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Who is Eligible for an Electric Vehicle Loan?
We calculate repayment by taking the loan total, including the interest payable from your personalised rate and the one-off establishment fee. This is divided into equal installments – monthly, fortnightly, weekly – according to what works for you.
To qualify for a green car loan, make sure you meet these requirements:
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Be an Australian or New Zealand citizen or a permanent resident
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Hold a valid driver’s license
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Be aged 21 years or older
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Clean repayment history, no unpaid defaults on credit, no bankruptcy filed, and no court judgment
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Purchase a new or used Electric Vehicle or a hybrid model
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Have an annual income of at least $35,000 from a regular source (additional requirements apply for self-employed individuals)
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intellichoice
Fast, Intelligent Process
Like our green cars, we rely on AI-powered technology to determine the rate and facilitate your electric vehicle loan process. Our experts will consult and ask you questions to get the best estimate on your green car. Then, you can proceed to apply to get the approval process started. When all the pertinent documents are verified, you can arrange the purchase and complete everything to settle your loan online. Once approved, it takes just under 24 hours to receive your electric vehicle funds!
We source lenders who offer $0 monthly fees, $0 early repayment fees, and absolutely 0 CO2 emissions!
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intellichoice
Which Type of Electric Vehicle Loan is Right for You?
Electric vehicle loans will fall under either fixed or variable interest rate, and secured or unsecured. Our mortgage experts give you the most appropriate option for your current finances.
- Variable: with this loan, your interest rates fluctuate. Your repayments may increase or decrease depending on the interest rate at the time. Benefit: take advantage of low interest rates when they’re available. Detractor: it can be hard to budget the repayments as they may vary from month to month.
- Fixed: with this loan, the interest rate is fixed for the term of the loan and your repayments will stay the same. Benefit: it’s easy to budget the loan repayments into your monthly expenses. Detractor: fixed rates tend to be higher than variable rates.
- Secured: with a secured loan, the vehicle is used as security against the loan. Benefit: you typically get lower interest rates. Detractor: if you default on your repayments, the lender repossesses your vehicle to recoup the amount of the loan.
- Unsecured: rather than using the vehicle as collateral, with this loan you need to prove that you can financially make the repayments. Benefit: you don’t have to use any collateral to secure the loan. Detractor: if you have bad credit, you may not qualify for this option.
- New car loan: this is a personal loan that usually includes conditions about the age of the new car you wish to purchase. Benefit: interest rates for new cars are typically lower than those for used cars. Detractor: the value of a new car is greater than a used car and typically takes longer to repay.
- Used car loan: this is a personal loan to specifically purchase a used car, and there may be restrictions on the age of the car to be eligible. Benefit: total amount of the loan is lower than that of a new car. Detractor: interest rates tend to be higher for used cars.
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WE ARE TRUSTWORTHY
What Sets Intellichoice Apart?
Electric vehicle loans require in-depth knowledge of this new loan product. As a registered and licensed mortgage broker, we keep up-to-date with the latest in the industry and bring in decades of experience and proprietary technology to evaluate your application and the right loan product.
Intellichoice understands that electric vehicles are the future in land transport – we make your purchase cost-competitive and ultimately the better choice over petrol-based cars. Fast and simple. We manage the process and get fast approval so you can focus on managing your business. Get tailored packages. Through our lender resources, we create lease and loan deals that other brokers can’t match. Relevant finance options. We understand the diverse circumstances of self-employed, SMOs, contractors and large corporations and anticipate your needs. Options for good or bad credit. We have access to lenders who specialise in credit histories of all sorts and successfully navigate their application requirements. Work with a responsive team. We partner with you from start to finish and keep you informed at every stage of the process.
- Fast and simple. We manage the process and get fast approval so you can focus on managing your business.
- Get tailored packages. Through our lender resources, we create lease and loan deals that other brokers can’t match.
- Relevant finance options. We understand the diverse circumstances of self-employed, SMOs, contractors and large corporations and anticipate your needs.
- Options for good or bad credit. We have access to lenders who specialise in credit histories of all sorts and successfully navigate their application requirements.
- Work with a responsive team. We partner with you from start to finish and keep you informed at every stage of the process.