Westpac is launching a new green car loan

More and more Australians want to buy electric vehicles and now many car lenders are offering competitive interest rates.

For example, Westpac has announced a new green fixed car loan for eco-friendly vehicles.

The new car loan starts at an affordable 4.99% pa (comparative interest rate 6.21% pa*) and comes with free special repayments. You can rent anywhere from $10,000 to $100,000, which is a good range if you’re looking to buy an eco-friendly car.

To qualify for Westpac’s new green car loan, your car must be up selectable vehicle listfor personal use, locally made or imported by the manufacturer and less than seven years old at the time of application.

How does Westpac’s green car loan compare?

First off, the green car loan is 99 basis points below the average fixed car loan rate of 5.98% in the Mozo database. It’s also 16 basis points below the average fixed green car loan rate of 5.15% in our database.

Westpac is one of the many lenders now offering green financial services to clients looking for greener options to help fight the climate crisis.

If you’re looking to buy a new wheelset soon, check out Mozo’s Auto Loan Guides to learn more about electric vehicles. Alternatively, you can start comparing car loans below.

Mozo provides general product information. We do not consider your personal goals, financial situation or needs, and we do not recommend any particular product. You should make your own decision after reviewing the PDS or offering documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we do not cover every product on the market. If you decide to apply for a product through our website, you are dealing directly with the supplier of that product and not with Mozo.

About Meredith Campagna

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