Electric Car Loans

Electric Car Loans¹ up to $50,000
Save on Fuel Costs & Save The Planet
5% APR Discount^E on Electric Car Loans

5% APR Discount on Your Loan Rate^E on Electric Car Loans with Money3.
Get Started Now. Offer Only Available when You Apply Now from this Page

1. Subject to verification, suitability and affordability
E. See our Electric Car Discount Terms & Conditions for details

Recent Reviews from Money3 Customers

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 loan^E 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 page^E.

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

Be Over 18 Years Old
Have Take Home Income or Benefits over $425 a Week¹
Be an Australian Resident
Get Your Income Paid into Your Account
Be Employed or Receiving Centrelink payments¹

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.

Apply Now

Exclusive 5% OFF APR Discount

1. Subject to verification, suitability and affordability
E. See our Electric Car Discount Terms & Conditions for details

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

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

Apply Now

Exclusive 5% OFF APR Discount

Disadvantages of Electric Vehicles

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
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
Driving Range - Most of today's EVs have a range between 50 and 300 kilometers between charges
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
Home Charging Point - Depending on where you live, you may need to install a charging point in your home
Quieter to Run - although also an advantage, it may lead to accidents with unexpecting pedestrians or cyclists
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

EXAMPLE: A platinum unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,210.20 and a total repayment of $7,210.20. The Minimum loan term is 12 months and the Maximum term 24 months. The term will be 24 months if you repay monthly, 52 fortnights or 104 weeks. The Maximum APR is 19.95%. The Comparison Rate, based on a loan of $10,000 over three years, is 35.97% EXAMPLE: A platinum secured personal loan of $10,000 for 36 months has fees and charges totalling $6,802.97 and a total repayment of $16,802.97. The Minimum loan term is 13 months and the Maximum term 36 months. The term will be 36 months if you repay monthly, 78 fortnights or 156 weeks. The Maximum APR is 19.95%. The Comparison Rate, based on a loan of $10,000 over three years, is 38.18% WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases.

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

EXAMPLE: A silver unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,556.20 and a total repayment of $7,556.20. The Minimum loan term is 12 months and the Maximum term 24 months. The term will be 24 months if you repay monthly, 52 fortnights or 104 weeks. The Maximum APR is 25.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 44.43% EXAMPLE: A silver secured personal loan of $10,000 for 36 months has fees and charges totalling $7,902.74 and a total repayment of $17,902.74. The Minimum loan term is 13 months and the Maximum term 36 months. The term will be 36 months if you repay monthly, 78 fortnights or 156 weeks. The Maximum APR is 25.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 43.47% WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases.>

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

EXAMPLE: A bronze unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,766.35 and a total repayment of $7,766.35. The Minimum loan term is 12 months and the Maximum term 24 months. The term will be 24 months if you repay monthly, 52 fortnights or 104 weeks. The Maximum APR is 28.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 47.66% EXAMPLE: A bronze secured personal loan of $10,000 for 24 months has fees and charges totalling $8,576.21 and a total repayment of $18,576.21. The Minimum loan term is 13 months and the Maximum term 36 months. The term will be 36 months if you repay monthly, 78 fortnights or 156 weeks. The Maximum APR is 28.00%. The Comparison Rate, based on a loan of $10,000 over three years, is 46.62% WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases.

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.