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