Electric vehicles are gaining ground with Australian buyers
Electric vehicle (EV) uptake is rising across Australia, and lenders are responding with tailored car loan products. Here’s what to know if you’re thinking about financing an EV.
Why EVs are gaining ground
- More models are available from mainstream manufacturers
- Charging infrastructure is expanding
- Running costs can be lower — electricity is generally cheaper than petrol, and EVs have fewer moving parts to maintain
- Government incentives (where available) can help with purchase costs
How EV car loans work
EV car loans work like standard car loans — you borrow a lump sum and repay it over an agreed term. Some lenders now offer specific EV loan products, which may include:
- Competitive rates for qualifying EVs
- Longer loan terms (to help with the typically higher purchase price)
- Eligibility for green or sustainability-linked finance
As with any car loan, it’s worth comparing options across multiple lenders rather than accepting the first offer — especially from a dealer, whose finance may not be the most competitive.
Estimate your repayments
Use our car loan calculator to get an idea of what your repayments might look like.
Car Loan Repayment Calculator
Find out your car loan repayments and the total interest charged.
Your results
Estimate only. Actual repayments and terms depend on the lender and your circumstances. Talk to James for tailored advice.
Book a free chat with James if you’re considering an EV purchase.
Replace with NFIS-approved commentary before publishing.
General information only. Talk to James for advice tailored to your situation.