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EV Car Loans

Got your eye on an EV? We will help you find a loan that stays easy on your pocket. Compare rates from 40+ Australian lenders for new and used electric vehicles – all in one place!
Compare My EV Loan
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Updated on 5 March 2026

If you have decided to buy an electric or green car, arranging the finance can actually be pretty straightforward. There are lots of lenders to choose from, so finding a loan that fits your budget and keeps repayments manageable isn’t hard. A bit of comparing and choosing the right option, and you will be ready to hit the road in your electric car.

What are an EV or Green Car Loan and How Does it Work?

An EV or green car loan is just a car loan you take out to buy an electric or more fuel-efficient vehicle.

Rather than paying the whole amount upfront, you borrow the money and repay it in smaller amounts over an agreed period. It works much the same way as any other car loan, just applied to a greener choice.

Benefits of Choosing a Green or EV Car Loan:

Green or EV car loans help you get into an electric or hybrid car without emptying your savings. Some lenders even offer lower fees or better rates, and it’s an easy way to get a cleaner, more efficient car while keeping your monthly payments realistic. Perhaps, most importantly, they give you flexibility; spreading the cost over time means you don’t have to pay everything all at once.

At Loancalculator.com.au, we help you compare over 40 lenders to find the EV car loan that works best for you, so you can make a confident, informed choice.

How Financing Your EV Works?

Loan amounts depend on the car and your finances
How much you can borrow usually comes down to the car’s price and what fits comfortably in your budget. Lenders will look at your income, expenses, and credit history to figure it out.
You can select the terms of the loan payment, generally it’s between 1 and 7 years. If you repay every month, your payments will be higher, but you will save a lot of interest. Stretching it out can make each payment smaller, but overall, you might end up paying a huge sum.
You don’t have to buy a brand a new electric car to avail the loan. Many lenders will also finance pre-owned cars as long as they are in good condition.
Some lenders give a little extra for going green like lower fees, lower rates, or faster approval. It’s not standard everywhere, but it’s worth asking about.
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Finance Options for New, Pre-Owned C Demo EVs

Considering switching to or buying an electric vehicle? Whether you are looking at purchasing a brand-new electric vehicle or searching for a fantastic deal on a pre-owned model, Loancalculator.com.au is here to help you find a finance solution that completely suits you.

We partner with a broad range of lenders to ensure that you can compare flexible finance solutions, rates, and repayment terms easily.

  • New EV Car Loans – Competitive Rates for Brand-New Cars:

    Our tool assists you in getting loans for green and hybrid cars at fair interest rates. With over 72,000 EVs sold in the initial 6 months of 2025, contributing to a 12.1% market portion of new car sales, EVs are turning out to be a favourite among Aussies.

    Whether you are interested in purchasing a Tesla Model 3, Polestar 2, Hyundai Ioniq 5, or Kia EV6, you can attain flexible repayment options, low down payments, and multiple lenders to choose from.

  • Pre-owned EV Car Loans – Finance Your Second-hand Electric or Hybrid Car:

    We also offer second-hand , so that you can easily afford to own a
    green car without having to pay the full price. Compare second-hand car loans for EVs for popular models like Nissan Leaf, BMW i3, or MG ZS EV from different lenders according to your financial needs.

  • Demo s Display EV Loans – Flexible Options for Demo Vehicles:
    If you are considering a demo and/or display electric vehicle, there are financing options available at competitive rates. We can help you find loans for models like the Hyundai Ioniq, Tesla Model 3, Kia EV6, or Polestar 2, or any other EV you choose, so, getting behind the wheel is easy and affordable.

What Types of Electric Cars Can I Get Finance For?

It has never been easier to find a suitable EV car loan in Australia. Our experts assist you in comparing various options that will fit your budget and requirements.

EV Car Loans for Electric and Hybrid Cars:

Whether you are buying a fully electric car or a hybrid, our experts link Aussies with trusted lenders. You can get interest rates that are competitive, repayment terms that are flexible, and customised finance solutions that would not hamper your current lifestyle.

  • EV Car Loans for Battery Electric Vehicles (BEVs): Going fully electric? We can guide you in finding a loan that your pocket accepts and makes the switch easy. Simple repayments, nothing complicated.
  • EV Car Loans for Plug-in Hybrid Electric Vehicles (PHEVs): Want the flexibility of electric driving but still need petrol sometimes? Plug-in hybrids are perfect, and we can assist you sort out a loan that fulfils this prerequisite.
  • EV Car Loans for Hybrid Electric Vehicles (HEVs): Hybrids are great if you want to save fuel without going fully electric. We can help you get a loan that is super simple to manage and won’t stress you out.
  • EV Car Loans for Fuel Cell Electric Vehicles (FCEVs): Hydrogen-powered cars are innovative, and getting one financed is straightforward. If you are ever unsure about which Fuel Cell EV loan is right for you, we provide 360- degree support, from comparing lenders to understanding repayments, to make your loan journey smooth.
EV Car Loan Finance

Compare EV Car Loans from Over 40 Trusted Lenders:

We make it simple to examine EV car loans from reputable lenders in the country. You can quickly find viable loan alternatives and its features as per your necessity.

  • Access multiple loan options in one place
  • Compare fees, interest rates, and reimbursement policy
  • Get loan recommendations that suffice your requirements
  • Explore exclusive deals from reliable lenders
  • Check total loan costs and payment schedules

Want to secure your EV car loan today?

Start Your Loan Comparison Now

What Determines EV Car Loan Interest Rates in Australia?

The interest that you will pay on an EV loan really depends on certain aspects. And yes, the most important factor is your credit score – the better it is, the better the chances of getting qualified are. It also matters whether you are buying a second-hand or new car, what loan tenure you are looking for, and the current market situation.

The best approach? Shop around. Consider different lenders, compare their charges, and select the option that ticks all your checkboxes. Doing a bit of homework can save you a lot in the long run.

A Closer Look at EV Loan Rates and Related Costs:

  • Excellent Credit (750+): People with credit scores in this bracket will likely be offered enviable deals, ranging from 4% to 5.5% p.a. for new electric or hybrid cars, with a slightly higher percentage for second-hand vehicles.
  • Good Credit (700-74G): Good credit record holders will likely be offered rates between 5.5% and 7% p.a. for new electric vehicles, with used or demonstrator models incurring moderately higher pricing.
  • Fair Credit (650-6GG):: This group will likely be provided a percentage that is between 7% and 9% p.a., depending on the terms and conditions of the loan agreement and the vehicle’s condition.
  • Poor Credit (600-64G): People with lower credit scores will be presented rates above 9% p.a., indicating higher levels of risk.

Beyond the advertised percentage, additional charges can affect the total amount payable, including:

  • Establishment or application costs
  • Ongoing account-keeping charges
  • Fees for closing the loan ahead of schedule

How We Help You in Getting Your EV Car Loan in Five Easy Steps

Calculate Repayments

You may use our intuitive loan calculator to calculate your loan repayments. This helps you have a better understanding of your reasonable loan repayments.

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Compare Lenders

You have the option to compare a number of loan offers from reputable lenders in Australia. We also have various loan plan and competitive interest rates that will assist you in choosing the right loan option for you.

Select Your Lender

You have the opportunity to select the loan option that fits your financial situation and your preferred vehicle type, whether new, used, or display.

Submit Your Application

Once you have chosen your loan, you can proceed to submit your loan application online in a matter of minutes. We have a streamlined loan application process, which is quick, simple, and entirely digital, ensuring that you can start your process as soon as possible.

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Get Approved

After your loan application is approved, the funds are released, and you can go to the dealership to drive away in your EV vehicle, knowing you have made the an informed choice with your loan.

Frequently Asked Questions About EV Car Loans

Find clear answers to the most frequently asked questions about EV Car loans.
interest rates are subject to variation depending on the lending institution, the amount borrowed, and the customer’s credit score. Generally, the rates are fair for an electric vehicle car loan. The client can choose the most appropriate rate based on his or her requirements.
Yes, it is. In fact, many lending institutions provide loans to buy new as well as second-hand EV vehicles. The scope of borrowing varies from $10,000 to $250,000, depending on the value of the car. Thus, it is a viable option to opt for green technology without having to pay the full price of the vehicle.
The process is quite straightforward. You will be required to input the amount borrowed, the period, and the interest rate using the vehicle loan calculator, which will then generate an estimate of the repayments. This will be a great help in planning your finances before making the application.
Yes. This is because the majority of the loans available for purchasing an electric vehicle allow the purchase to be made from either a private seller or a car dealership. Therefore, it is important to consider this before making the application.
Yes, you can make an application for an electric vehicle car loan from anywhere in Australia, and the fact that most car loan applications are done online means that you can do so from anywhere in the country.
Yes, we have specialised lenders who can offer car loans for people with poor credit. Even if your credit history isn’t perfect, you can still apply for a loan and get into your electric or hybrid vehicle.
The loan term can vary from 1 to 7 years. A shorter term may be selected to repay the EV earlier, or a longer term may be selected to reduce the monthly payments.
Yes, business owners can often apply for an EV car loan under their company. This can have tax and depreciation advantages depending on your circumstances.
You can either add a deposit or finance 100% of the vehicle price. Deposits can help reduce your monthly repayments or improve your chances of approval.
Yes, you have the option to refinance your car loan to secure a lower interest rate or simplify your finances.
A secured car loan uses the EV as collateral to secure a lower rate, while an unsecured one does not use any form of collateral but comes with a slightly higher rate.Yes, you have the option to do so in order to secure a lower rate or to simplify your finances.
Some lenders allow you to include EV chargers and installation costs in your loan. This means you can cover the total cost of your EV setup in one convenient package.

Use Our Free Car Loan Calculator

You can use our free car loan calculator to estimate your repayments before you apply. You’ll see how different loan amounts, interest rates, or terms can affect your budget and repayments. Just plug in your numbers and go: no sign-up required.
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