The green car loan is available for new and existing members who are wanting to borrow money for:
- Battery Electric Vehicles (EVs) (e.g. Tesla)
- Plug-in Hybrid Electric Vehicles (PHEVs) (e.g. Mitsubishi Eclipse Cross)
- Fuel Cell Electric Vehicle (FCEV) (e.g. Hyundai Nano)
Only cars up to 12 months old are eligible, and up to a maximum loan value of $150,000.
- Establishment fee: $0
- Annual and monthly fees: $0
- Additional repayment fee: $0
- Document preparation fee: $0
The maximum term length is five years.
RACQ allows weekly, fortnightly or monthly repayments, with unlimited additional repayments.
RACQ Group Executive Banking Michelle Winzer said the green car loan was a key initiative which aligned to RACQ’s 2030 strategy of helping Queenslanders transition to a more sustainable future.
“At RACQ we’re working hard to help our members embrace zero emission vehicles and energy,” Ms Winzer said.
“Earlier this year we launched the RACQ Bank green home loan with a rate of 0.79% comparison rate and acquired a majority shareholding in the highly awarded solar company - GEM Energy.
“RACQ also sponsors the Queensland Electric Super Highway, offers five levels of roadside assistance cover for electric vehicles as well as providing insurance products.
"Buyers can also take advantage of the Queensland Government’s $3,000 rebate on new eligible zero emission vehicles with a purchase price up to $58,000 including GST along with continuing discounts on registration, making the transition to electric mobility even sweeter."
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.
|Fixed||New||1 year||More details|
|FEATUREDApproval within 24 hours|| |
Green Car Loan Fixed
Green Car Loan Fixed
|Fixed||New, Used||7 years||More details|
Hybrid and Electric Car Loan
|Fixed||New, Used||99 years||More details|
Electric Vehicle Loan (Fixed)
|Variable||New||99 years||More details|
Green Car Loan
Image by Averie Woodard via Unsplash