For new electric and hybrid cars, Loans.com.au has launched its “lowest rate on record” for owners.
Online lender Loans.com.au launched its “lowest auto loan rate on record” at 3.29% per annum (benchmark rate of 3.89%) for new electric and hybrid cars.
In addition, Loans.com.au now offers an auto loan rate for new and used cars for up to five years at 3.99% per annum (compare rate of 4.53%).
These rates are available for customers who already have a mortgage.
For non-owners or renters, the two car loans are 1% higher – the green car loan is 4.29% per annum (comparison rate of 4.89%) and cars less than five years old are 4.99% per annum (comparison rate of 5.53%).
The online lender has also extended its auto loan offerings to cars under the age of 12.
For cars over five years old, auto loan rates start from 5.19% pa (5.74% comparison rate).
Non-owners will also have a 1% higher rate – from 6.19% per annum (6.74% comparison rate) – on cars over five years old.
Marie Mortimer, chief executive of Loans.com.au, said she was excited about what the new rates could mean for Australian owners looking to buy a new or used car.
“These are the lowest auto loan rates we have ever offered, and we are very happy to help make the process of financing and buying a car easier in what can be a difficult time for some people due to the stock levels or other reasons, ”Ms. Mortimer said. noted.
“We reward customers who go green or choose a green option like a hybrid or electric vehicle with rates as low as 3.29%.
“But we can also help you with a wider range of vehicles, from new cars to used cars up to 12 years in dealerships.”
The new rates come shortly after Loans.com.au launched its car buying service, OnlineAuto.com.au, to address common car buying issues.
Looking for a new car? The table below shows green auto loans with some of the lowest interest rates in the market for low emission vehicles.
Basic criteria: Fixed and guaranteed auto loans for “low emission” cars. Data correct as of September 1, 2020. Rates based on a loan of $ 30,000 for a loan term of five years. Products sorted by advertised price. Refunds are calculated on the basis of the advertised rates. Prices correct as of October 14, 2021. See disclaimer.
Image by myenergi on Unsplash
The entire market was not taken into account in the selection of the above products. Instead, a smaller part of the market has been envisioned, which includes the retail products of at least the Big Four banks, the Top 10 customer-owned institutions, and Australia’s largest non-banks:
Products from some vendors may not be available in all states.
In the interest of full disclosure, Savings.com.au, Performance Drive, and Loans.com.au are part of the Firstmac group of companies. To learn more about how Savings.com.au handles potential conflicts of interest, as well as how we are paid, please click on the links on the website.
*The Comparison rate is based on a loan of $ 30,000 over 5 years. Please note: this comparison rate is only true for this example and may not include all fees and charges. Different terms, fees, or other loan amounts may result in a different comparison rate.