The table below features car loans with some of the lowest fixed interest rates for low-emissions vehicles on the market.
|Advertised rate||Comparison rate||Monthly repayment||Interest Type||Vehicle Type||Maximum Vehicle Age||Ongoing Fee||Application Fee||Total Repayment||Early Repayment||Instant Approval||Online Application|
|Fixed||New||1 year||Go to site|
Green Car Loan
|Fixed||New||2 years||Go to site|
|FEATUREDQUICK APPLICATION PROCESS WITH NO FEES|| |
New Vehicle Fast Loan Low Rate
New Vehicle Fast Loan Low Rate
|Fixed||New, Used||5 years||More details|
Fixed Car Loan (with Low Emission Vehicle discount)
Base criteria: fixed and secured car loans for 'low emission' cars. Data accurate as at 01 September 2020. Rates based on a loan of $30,000 for a five-year loan term. Products sorted by advertised rate. Repayments are calculated based on advertised rates. Rates correct as of September 25, 2021. View disclaimer.
Guides and resources:
A green car is a car that is better for the environment than standard cars because it produces fewer carbon dioxide emissions. Carbon dioxide (CO2) is a greenhouse gas and one of the biggest contributors to global climate change. It is produced by burning organic and carbon compounds such as petrol so environmentally friendly cars often run on little-to-no fuel.
So essentially, lower emissions can equal lower interest rates, which means more savings.
A car needs to have significantly lower than average carbon dioxide (CO2) emissions to qualify as a ‘green car’ and this must be compared to other vehicles of its size. This means it doesn't necessarily have to be a hybrid or electric model.
According to loans.com.au, you are likely to qualify for a green car loan if the car:
This information should be displayed somewhere in the vehicle – either on the windscreen or in the service manual.
There are a number of benefits involved in driving a green car – both for the environment and for the owner. In particular, green cars:
A recent initiative to help reduce carbon emissions was the introduction of discounted loans for environmentally-friendly cars. Vehicles which meet the eligibility requirements above can receive interest rates up to 100 basis points lower, saving you money over the course of the loan.
For some people, the benefits of discounted interest rate and fuel efficiency of green cars outweigh the higher purchase price. At the end of the day, it depends on your personal financial situation.
The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered which includes retail products from at least the big four banks, the top 10 customer-owned institutions and Australia’s larger non-banks:
Some providers' products may not be available in all states.
In the interests of full disclosure, Savings.com.au, Performance Drive and Loans.com.au are part of the Firstmac Group. To read about how Savings.com.au manages potential conflicts of interest, along with how we get paid, please click through onto the web site links.
*The Comparison rate is based on a $30,000 loan over 5 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.