Electric Vehicle Loans
Electric vehicles are the future, and more Australians are making the switch every year. Whether you're buying a Tesla, a hybrid, or another EV, we can help you find competitive finance - including green loan discounts from select lenders.
Some lenders offer lower rates for eco-friendly vehicles
Finance Your Electric Future
The electric vehicle revolution is here. From affordable city cars to luxury performance vehicles, there's an EV for almost every need and budget. And with fuel prices volatile and environmental concerns growing, more Australians than ever are considering making the switch.
At Your Lending Friend, we help you finance your electric or hybrid vehicle with competitive rates. Some of our lenders now offer "green loans" with discounted rates for eco-friendly vehicles, recognising the environmental benefits and lower running costs.
Benefits of EV Finance
Why financing an EV could be a smart move
Potential Green Finance Discounts
Some lenders offer lower rates for EVs and hybrids, recognising their environmental benefits.
Lower Running Costs
Electricity is cheaper than petrol. Many EV owners save $1,000-$2,000+ per year on fuel.
Reduced Maintenance
EVs have fewer moving parts - no oil changes, fewer brake replacements, less wear and tear.
FBT Exemption for Eligible Vehicles
Eligible EVs may be exempt from Fringe Benefits Tax - a significant saving for salary packaging.
Types of Electric Vehicles
We finance all types of electric and hybrid vehicles
Battery Electric (BEV)
Fully electric vehicles like Tesla Model 3, BYD Atto 3, Hyundai Ioniq 5, Kia EV6
- Zero emissions
- Lowest running costs
- Home charging capable
- Government incentives may apply
Plug-in Hybrid (PHEV)
Electric motor plus petrol engine - Mitsubishi Outlander PHEV, BMW X5 xDrive45e, MG HS PHEV
- Electric for short trips
- Petrol for long range
- No range anxiety
- Flexible charging
Hybrid (HEV)
Self-charging hybrids like Toyota RAV4 Hybrid, Kia Sportage Hybrid, Mazda CX-60
- Better fuel economy
- No plug-in required
- Mature technology
- Wide model selection
Green Loan Features
Special features available for EV finance
| Feature | Details |
|---|---|
| Discounted Interest Rate | Some lenders offer 0.5-1% lower rates for EVs and hybrids |
| Serviceability Benefits | Lower running costs can improve your borrowing capacity assessment |
| New and Used Options | Finance available for both new EVs and quality used electric vehicles |
| Include Charging Equipment | Some lenders let you finance home charging installation in your loan |
*Green loan features vary by lender. We'll identify the best options for your situation.
How EV Finance Works
Four simple steps to driving electric
Choose Your EV
Whether you've got your heart set on a Tesla, considering a hybrid, or exploring options, we can help finance most electric and hybrid vehicles.
Apply Online
Complete our 5-minute application. We'll assess your situation and search for the best EV finance options, including green loan discounts.
Get Approved
We present your options with clear comparisons. Many applications receive same-day approval. We explain everything - no jargon.
Drive Electric
Once approved, we finalise the paperwork and you drive away in your new EV. Welcome to the future of driving.
Checking your options won't affect your credit score
EV vs Petrol: Running Cost Comparison
See how much you could save each year
Petrol Car
Electric Car
Potential Annual Savings: ~$2,350
*Estimates based on average usage. Actual savings depend on driving habits and electricity costs.
Bad Credit? You Can Still Go Electric
Don't let past credit issues stop you from making the switch to electric. We have options for all credit situations. While you may not qualify for the best green loan discounts, we can help you find EV finance that works for your circumstances.
Learn About Bad Credit OptionsElectric Vehicle Loan FAQs
Common questions about financing an EV
No, not all lenders have specific green finance products. However, a growing number of lenders now offer discounted rates for electric and hybrid vehicles, typically 0.5-1% lower than their standard car loan rates. We'll identify which lenders offer the best EV-specific deals for your situation.
Yes, we can arrange finance for both new and used EVs. Used ...
Yes, we can arrange finance for both new and used EVs. Used electric vehicles are becoming more common as early adopters upgrade. The same factors apply as any used car - age, condition, and value - but EVs often hold their value well due to high demand.
Some lenders allow you to include the cost of a home chargin...
Some lenders allow you to include the cost of a home charging unit and installation in your car loan. This can range from $1,500-$3,000 depending on your electrical setup. We can advise which lenders offer this option.
Eligible electric vehicles (generally those below the luxury...
Eligible electric vehicles (generally those below the luxury car tax threshold for fuel-efficient vehicles) may be exempt from Fringe Benefits Tax when salary packaged. This can result in significant tax savings. Consult your employer or accountant about eligibility for your specific situation.
Yes, we can help arrange EV finance for people with less-tha...
Yes, we can help arrange EV finance for people with less-than-perfect credit. While you may not qualify for the best green loan discounts, our bad credit specialists can find options. Making the switch to an EV is possible regardless of your credit history.
For most drivers, yes. While EVs typically have a higher pur...
For most drivers, yes. While EVs typically have a higher purchase price, the lower running costs (fuel and maintenance) often offset this over time. Many EV owners save $2,000-$4,000 per year in running costs compared to equivalent petrol vehicles. The break-even point depends on how much you drive and your electricity costs.
Still have questions? Contact our friendly team