The lender's electric vehicle financing will have interest rates at least 50 basis points (0.50%) lower than its existing 'highly competitive' car loans.

Plenti has also opened up additional lending for those purchasing EV-related equipment including chargers, downloadable vehicle upgrades and other accessories.

Plenti's existing car loan rates start from 4.89% p.a. (5.44% p.a. comparison rate*), subject to the borrower's credit rating.   

Taking 50 basis points off that implies its electric vehicle financing rates could start from an advertised rate of 4.39% p.a, which is competitive among other green car loan providers.

Plenti CEO Daniel Foggo said this product offering comes as EV uptake starts to soar in Australia.

"The adoption of EVs is critical to Australia achieving its carbon emission reduction targets," Mr Foggo said.

"Not only can they reduce transport emissions, but their ability to integrate with the home and energy grid mean they are poised to play a significant role in helping households reduce power bills and support grid stability."

Through the Plenti EV portal customers can also access discounted EV-specific insurance, which features battery and charger damage cover; the portal also offers access to an EV buying service.

This new car loan offering will be available directly and through Plenti's broker channel.

"With sales of electric vehicles doubling in the year to date since 2020 and forecast to grow strongly over the next decade, our entry into the EV market will help propel our short and longer-term growth," Mr Foggo said.

According to 'VFACTS' data released last week, electric vehicle sales in October were up 243.5% compared to October 2020, attributed to state incentives to encourage uptake.

Plenti is a peer to peer loan provider where clients can not only borrow money but invest.

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

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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 TagsFeaturesLinkComparePromoted ProductDisclosure
5.94% p.a.
7.07% p.a.
$579
Variable
New
$8
$400
$34,749
  • Available for purchase of new/demo vehicle
  • Get a personalised rate, won't impact your credit score
  • Borrow from $10k to $150k, 3 to 7 yr loan term
  • Unlimited additional repayments, flexible repayment options
 Disclosure
5.67% p.a.
6.10% p.a.
$575
Fixed
New
$0
$350
$34,524
  • A leading Australian Finance Broker with proven experience you can trust
  • We've assisted more than 150,000 customers access over $8 billion in finance!
  • We are the experts at getting the keys in your hands
 Disclosure
5.95% p.a.
5.95% p.a.
$579
Fixed
New
$0
$0
$34,757
  • No vehicle age limit
  • No ongoing or early exit fees
  • 1-7 years loan terms. Pay monthly, fortnightly, or weekly
 Disclosure
Important Information and Comparison Rate Warning
Important Information and Comparison Rate Warning
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