The rebate forms part of the NSW EV Strategy legislation announced on Thursday, which commits $490 million towards EV uptake, and also includes significant infrastructure upgrades by installing EV chargers across the state.

In order to be eligible for one of the 25,000 rebates on offer, motorists must have registered their new EV with Service NSW from 1 September.

Applications for the NSW EV rebates will open on 1 November, with eligible electric vehicles able to use Transit T2 and T3 lanes from the same date until at least 31 October 2022.

The $3,000 rebate applies to new electric cars priced below $68,750 - close to the current regular luxury car tax (LCT) threshold, even though EVs are exempt from LCT until $79,659.

The State Government will also waive stamp duty for EVs priced below $78,000.

NSW Treasurer and Minister for Energy and Environment Matt Kean said the EV Strategy is 'nation-leading' and will ensure at least 50% of new cars sold by 2030 are electric.  

"To achieve net zero emissions by 2050, the majority of new cars sold in NSW need to be EVs by 2035," Mr Kean said. 

"This is the beginning of an EV revolution in NSW, with more drivers set to benefit from lower taxes and $3,000 rebates on their next EV purchase."

The NSW Government will also roll out 'EV Tourist Drives' across New South Wales to ensure regional communities don't miss out on their share of the benefits of EVs.

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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.

Update resultsUpdate
Filters
LenderCar LoanInterest Rate Comparison Rate* Monthly Repayment Interest Type Vehicle Type Maximum Vehicle Age Ongoing Fee Upfront Fee Total Repayment Early Repayment Instant Approval Online Application TagsFeaturesLinkCompare
6.09% p.a.
7.21% p.a.
$581
Variable
New
1 year
$8
$400
$34,874
 Featured
  • Discounted rate on qualifying electric cars
  • Up to 7 yrs loan term
  • Redraw available up to $5,000/day
5.99% p.a.
7.20% p.a.
$580
Fixed
New, Used
7 years
$12
$250
$34,791
5.99% p.a.
5.99% p.a.
$580
Variable
New
No Max
$0
$0
$34,791
6.19% p.a.
6.54% p.a.
$583
Variable
New
No Max
$0
$250
$34,958
6.25% p.a.
6.52% p.a.
$583
Fixed
New, Used
3 years
$0
$195
$35,009
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 . View disclaimer.

Image by Andrew Roberts via Unsplash.