As Aussies are charging towards an electric future, Community First Credit Union introduces a new low rate green car loan

By Ava Crawford · · 2 min read
Fact Checked
Advertiser disclosure
woman holds her car keys out the window of her electric car that she just got insured at a low rate

Australia has seen an increase in electric vehicle sales over the last few years, especially now that increasingly affordable options are available. According to ABS data in 2021, electric vehicle registrations increased by 62% from the previous year.

To match this rapidly growing demand, Community First Credit Union has launched a Green Car Loan, specifically designed for brand new electric and hybrid vehicles.

The Community First Green Car loan offers a competitive rate of 3.99%p.a. (4.99% p.a. comparison rate*), a low $5 monthly fee and a $295 application fee. The loan also offers terms of up to seven years with the option of fixed or variable rates, offering consumers flexibility.

John Tancevski, chief executive of Community First Credit Union, said of the loan, “We have introduced our Green Car Loans when governments in Australia have started recognising the value of electric and hybrid vehicles.”

NSW leading the charge with electric car revolution

In July 2021, the New South Wales Government passed the Electric Vehicles Bill that provides almost a half a billion-dollar investment in tax cuts and incentives to NSW motorists to switch to electric vehicles.

As part of its Electric Vehicles Strategy, the NSW Government aims to have electric vehicles making up more than 50% of the new car market by 2030. Additionally, in September the NSW Government launched the strategy by waiving stamp duty for eligible EVs under $78,000.

“For families looking to upgrade their car to retirees planning a road trip around Australia, these government incentives will make electric vehicles accessible and more affordable for all NSW residents,” said Tancevski.

“By introducing our Green Car Loans with a competitive rate of 3.99% p.a. (4.99% p.a. comparison rate*), we are providing affordable funding for motorists to take advantage of electric and hybrid vehicles.”

If you are thinking about buying a car soon, check out Mozo’s car loan repayment calculator to figure out how much you can afford in your budget. If you want to learn more about car loans, you can also head over to our car loan guide page.

Top new car loans - last updated 7 July 2022

Search promoted car loans below or do a full Mozo database search . Advertiser disclosure
  • New Car Loan - Prime Special

    Home Owner Discount, Including Demo, Variable, Secured

    Interest rate
    comparison rate
    Monthly repayment
    3.74% p.a.
    4.28% p.a.based on $30,000
    over 5 years

    Low variable car loan rate for purchasing new and demo vehicles from dealers. Extra low 3.74% rate (4.28% comparison rate*) for qualifying homeowners. Personalised loan amounts between $5,000 and $100,000. Flexible repayment options. Choose between the 3 to 5 year loan terms.

    Repayment terms from 3 years to 5 years. Representative example: a 5 year $30,000 loan at 3.74% would cost $33,338.96 including fees.

    Go to site
    Details
  • Car Loan

    Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    5.35% p.a.
    5.65% p.a.based on $30,000
    over 5 years

    Available for all New and Used cars up to 7 years. A quick and easy, 100% online application with loans up to $75,000. No printing. No paper. No fuss. No monthly account keeping fees, no exit fees and no early repayment fees.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 5.35% would cost $34,507.61 including fees.

    Go to site
    Details
  • Car Loan

    Fixed

    Interest rate
    comparison rate
    Monthly repayment
    6.99% p.a.to 10.49% p.a.
    7.55% p.a.to 11.06% p.a.based on $30,000
    over 5 years

    Enjoy competitively low rate car loans from 6.19% (comparison rate 6.74% p.a.) between $10,000 and $100,000 for new, demo and used vehicles. Take advantage of flexible 3, 5 or 7 year loan terms. No early repayment or exit fees. You must be 21 years or over to qualify and earn above $35,000.

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 6.99% would cost $36,032.67 including fees.

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    Details
  • Clean Green Car Loan

    New or Used, Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    5.89% p.a.
    6.44% p.a.based on $30,000
    over 5 years

    No monthly or ongoing fees. Get a 0.70% discount on your car loan interest rate if you buy a qualifying green car. Winner of Mozo's Experts Choice Green Car Loan 2021 award^.

    Repayment terms from 3 years to 5 years. Representative example: a 5 year $30,000 loan at 5.89% would cost $35,107.05 including fees.

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    Details
  • Featured Product
    Secured Car Loan

    Fixed

    Interest rate
    comparison rate
    Monthly repayment
    5.59% p.a.to 13.24% p.a.
    6.42% p.a.to 12.12% p.a.based on $30,000
    over 5 years

    Low personalised rates, ideal for borrowers with excellent credit. No monthly account fees, no early payout fees, so you can pay off your loan sooner. Borrow between $5,000 and $79,000. Easy online application, receive a response in minutes and approved funds within 24-48 hours!

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 5.59% would cost $35,061.92 including fees.

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    Details

*WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. 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.

^See information about the Mozo Experts Choice Personal Loan Awards

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