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  • Electric Car Loans1 up to $50,000
  • Save on Fuel Costs & Save The Planet
  • 5% APR DiscountE on Electric Car Loans
5% OFF - Discount APR Rate
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Exclusive 5% OFF APR Discount

Electric Cars

Latest Loan Reviews

Electrifying Offer - Get 5% Off Your Electric Car Loan APR Rate

Help save the planet, save money on fuel costs and take advantage of our '5% OFF' your loan APR rate, when you get an electric car loanE with Money3.

How Does it Work?

The offer is only available for electric car loans, when you apply online using the special 'Apply Now' links on this pageE.

You'll need to ensure you pass our general criteria (as below) before you apply1.

When your loan has been pre-approved1, we'll let you know how much you could borrow to finance your electric car, as well as the regular loan rate and then your 5% off discounted rate.

Next, you'll need to find an electric car you'd like to drive and provided everything checks out and your loan is approved, you could be driving away with a new (or used) electric car. With 5% off your loan rate, you'll start saving money, you'll also be saving on your weekly fuel costs and doing your part in creating a cleaner environment, helping save the planet.

Sounds good? Get started and Apply Now for Your Electric Car loan.

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Exclusive 5% OFF APR Discount

Electric Cars Advantages & Disadvantages

It's a big decision buying a new car. With environmental concerns and EV technology improving every year; is now the right time for you to buy an electric car?

Advantages of Electric Vehicles

  1. Lower Fuel Costs - Electric fuel costs about a third per kilometre, compared to petrol for similar vehicle types
  2. Zero CO2 Emissions - unlike petrol, EVs do not pump carbon dioxide into the environment
  3. Cheaper Maintanance Costs - EVs don't have as many moving parts and are less likely to have problems. Servicing is also easier or cheaper
  4. Quieter to Run - which means lower noise pollution
  5. Government Incentives - No stamp duty in ACT and $100 annual reduction in registration fees for Victoria (Nov.2019)
  6. Improving Technology - Means cheaper EVs with a better running range with some EVs now up to 300 kilometres
  7. Cleaner Better World - As well as no CO2, EVs do not emit other environmental polutants into the air
  8. Off the Grid - It's possible to go 100% solar and off the grid
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Exclusive 5% OFF APR Discount

Disadvantages of Electric Vehicles

  1. Cost of New EVs - Prices are coming down, but like for like, they are more expensive than petrol vehicles to buy new, but cheaper to run
  2. Fewer Recharge Points - With fewer places to charge your EV than petrol vehicles, long trips may need to be planned in advance. The good news is more and more recharge points are being added every week
  3. Driving Range - Most of today's EVs have a range between 50 and 300 kilometers between charges
  4. Time to Charge - It may be inconvenient to wait five or six hours for your EV to fully charge, but quick charges up to 80% of your battery may only take around 40 or 50 minutes
  5. Home Charging Point - Depending on where you live, you may need to install a charging point in your home
  6. Quieter to Run - although also an advantage, it may lead to accidents with unexpecting pedestrians or cyclists
  7. Peak Electric Costs - Charging your EV during peak electricity hours may push costs up, but off peak costs are significantly cheaper than using petrol

Example Electric Car Loans Costs Chart

Platinum
19.95% APR
Silver
25.00% APR
Bronze
28.00% APR
Borrow Costs Repay
$5,000 $2,211 $7,211
24 Months at 19.95% APR & 35.97% Comparison Rate
$7,500 $3,316 $10,816
24 Months at 19.95% APR & 39.00% Comparison Rate
$10,000 $6,803 $16,803
36 Months at 19.95% APR & 38.18% Comparison Rate
$12,500 $8,252 $20,752
36 Months at 19.95% APR & 37.19% Comparison Rate
$15,000 $9,701 $24,701
36 Months at 19.95% APR & 36.53% Comparison Rate
Borrow Costs Repay
$5,000 $2,557 $7,557
24 Months at 25.00% APR & 44.43% Comparison Rate
$7,500 $3,835 $11,335
24 Months at 25.00% APR & 44.43% Comparison Rate
$10,000 $7,903 $17,903
36 Months at 25.00% APR & 43.47% Comparison Rate
$12,500 $9,627 $22,127
36 Months at 25.00% APR && 42.51% Comparison Rate
$15,000 $11,351 $26,351
36 Months at 25.00% APR & 41.87% Comparison Rate
Borrow Costs Repay
$5,000 $2,767 $7,767
24 Months at 28.00% APR & 47.66% Comparison Rate
$7,500 $4,150 $11,650
24 Months at 28.00% APR & 47.66% Comparison Rate
$10,000 $8,577 $18,577
36 Months at 28.00% APR & 46.62% Comparison Rate
$12,500 $10,469 $22,969
36 Months at 28.00% APR && 45.68% Comparison Rate
$15,000 $12,361 $27,361
36 Months at 28.00% APR & 45.05% Comparison Rate

Common Electric Vehicle Questions

Are electric cars cheaper to run than petrol cars?

The cost of electricity varies with each provider, however studies (in the USA) have shown that you should expect to pay around a third of the costs per kilometer for electricity than with petrol. Remember that peak electricity costs will eat into this cost saving. If you generate your electricity yourself via solar, it could be free.

How far can an electric car travel before a recharge?

Distances are getting better as the technology advances, but you can expect anything between 50km and 300km depending on the electric car model you choose. Do your research before you buy.

How can I find out where to charge my EV near me?

A Google Maps search for EV charging stations will show you an updated list of charging points in your area. Myelectriccar.com.au has an interactive map of Australia for you to see EV coverage in your area. Once you have your EV, check the SatNav or download a mobile app for everyday coverage.

How long does it take to charge an EV?

A super fast charge will take about 45 minutes, when you are out and about. This will give you about an 80% charge of your battery. When charging at home for a 100% charge overnight will generally take about 5 or 6 hours. Check your prefered vehicle specifications for details on that particular model as times may vary.

How do I get a 5% discount on my electric car loan?

Please see our Electric Car Discount Terms & Conditions.

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Exclusive 5% OFF APR Discount

Do hybrid cars or other Evs qualify for the electric car discount?

Sorry, only 100% electric cars qualify for the discount. Please see our Electric Car Discount Terms & Conditions.

Do cars retrofitted or converted qualify for the electric car discount?

Sorry, only cars manufactured as 100% electric qualify. Please see our Electric Car Discount Terms & Conditions.

Do EV repairs qualify for the electric car discount?

Sorry, only electric car purchases (used or new) could qualify for the discounted loan rate. Please see our Electric Car Discount Terms & Conditions.

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Exclusive 5% OFF APR Discount