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Top-rated green car loans for your electric vehicle purchase

Top-rated green car loans for your electric vehicle purchase

New car sales figures have seen an overall decline for the first time in 11 months, but electric vehicle (EV) sales continue to rise.

According to the latest figures from the Federal Chamber of Automotive Industries (FCAI), 74,650 new vehicles were sold in October, a year-on-year decrease of 8.1 per cent.

FCAI chief executive Tony Weber said it was clear manufacturers were having challenges with supply chains.

“Automotive manufacturers like all those in the global manufacturing sector are dealing with a microprocessor shortage which is leading to longer wait times to get products to market,” Mr Weber said.

“Australians are continuing to purchase vehicles, and car makers are working to deliver products to our shores.”

Despite a drop in overall sales, FCAI reported an increase in EV sales in October, in line with new state and territory incentives for EVs being revealed throughout the country.

More recently, the federal government released details of the first national Future Fuels and Vehicles Strategy, supported by an expanded $250 million Future Fuels Fund investment. Of this, $178 million is set to be rolled out towards the development of EVs and hydrogen infrastructure.

If you’re looking to make the switch to an EV or other low-emissions vehicle or are shopping for a car with a standard petrol engine, RateCity’s car loan leaderboard could help you find some of the most competitive green, new, or used car loan products to finance your purchase.

To get you started with your research, RateCity has put together some of the top-rated car loans for November 2021.

(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.)

Top-rated green car loans

Top-rated new car loans

Top-rated used car loans

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This article was reviewed by Personal Finance Editor Alex Ritchie before it was published as part of RateCity's Fact Check process.

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