Online lender loans.com.au has launched its 'lowest car loan rate ever' at 3.29% p.a. (3.89% comparison rate) for new electric and hybrid cars.

Additionally, loans.com.au is now offering a car loan rate for new and used cars up to five years old at 3.99% p.a. (4.53% comparison rate). 

These rates are available to customers that already have a mortgage.

For non home owners, or renters, both car loans are 1% higher - the green car loan is 4.29% p.a. (4.89% comparison rate), and cars up to five years old is 4.99% p.a. (5.53% comparison rate).

The online lender has also expanded its car loan offerings to cars up to 12 years old.

For cars over five years old, car loan rates start from 5.19% p.a. (5.74% comparison rate).

Non home owners will also have a 1% higher rate - starting from 6.19% p.a. (6.74% comparison rate) - on cars over five years old.

Marie Mortimer, loans.com.au Managing Director, said she is excited about what these new rates could mean for Australian homeowners looking to buy a new or used car.

"These are the lowest car loan rates we have ever offered, and we are very excited to help make the car finance and car buying process easier in what can be a difficult time for some people due to stock levels or other reasons," Ms Mortimer said.

"We’re rewarding customers for going green, or choosing an environmentally friendly option like a hybrid or electric vehicle with rates as low as 3.29%.

"But we can also help with a wider range of vehicles, from new cars, to used cars up to 12 years old from a dealership."

These new rates come shortly after loans.com.au launched its car buying service, OnlineAuto.com.au, to address common pain points of buying a car.


Advertisement

In the market for a new car? The table below features green car loans with some of the lowest interest rates on the market for low-emissions vehicles.

Lender

FixedNew1 yearMore details
Approval within 24 hours
  • Save the planet. Save thousands on your car loan.
  • 1% discount on qualifying electric cars
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
Approval within 24 hours

Green Car Loan Fixed

  • Save the planet. Save thousands on your car loan.
  • 1% discount on qualifying electric cars
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
FixedNew, Used7 yearsMore details

Hybrid and Electric Car Loan

    VariableNew99 yearsMore details

    Green Car Loan

      Important Information and Comparison Rate Warning

      All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

      The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates for car loans and secured personal loans for the relevant amounts and terms are for secured loans unless indicated otherwise. The comparison rates for unsecured personal loans are applicable for unsecured loans only. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

      Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of March 28, 2024. View disclaimer.

      Image by myenergi on Unsplash