With a new electric vehicle on its way to Australia and a new lowest green car loan hitting the market, March may be your time to consider making a sustainable choice for your next vehicle purchase.
Over 85,000 cars were sold in February despite global supply chain issues and the impacts of the pandemic, according to the Federal Chamber of Automotive Industries. This was a 1.6% increase from February 2021.
The popularity of electric vehicles (EVs) is also on the rise, with sales of EVs having tripled in 2021 alone, according to recent Electric Vehicle Council (EVC) data. Tesla topped the EVC’s list of highest-selling battery and plug-in hybrid EVs in 2021.
And there’s a new EV coming to Australia, with the BYD Atto 3 from China expected to arrive in July. The Australian importer has ambitions to outsell Tesla as the top-seller in the first year of sales, as it is a more affordable vehicle.
Further, loans.com.au has broken green car loan records by offering a new lowest car loan rate on the RateCity database. It’s competitive car loan offering comes with an advertised rate of 2.89% for eligible customers looking to purchase a “green” vehicle.
With more banks coming on board to offer discounts to customers looking to go green with their purchases, and more affordable EVs set to hit our shores, you may be considering your financing options for an EV purchase.
Keep in mind that there is more to a car loan than the interest rate offered, and you’ll want to also compare any fees and features to ensure you’re choosing the best option for your goals and financial situation
To help you in your car loan comparison journey this March, RateCity has created Leaderboards to rank car loans in the marketplace using our Real Time RatingsTM system. Real Time RatingsTM results give each car loan a score out of five stars, based on loan costs and flexibility.
(Rankings are correct at the time of publishing. Please note lenders may trade places on the list as interest rates and fees change and RateCity’s tracker reflects these movements.)