Macquarie Bank offers new electric vehicle loans at rates close to home loans of just 2.99%

If you try to buy a car with finance you will face interest rates with a 6 up front, but buy an EV and Macquarie Bank will give you a rate of only 2.99% per annum with a loan term. of 5 years. It’s close to mortgage rates, which is crazy for what is essentially a personal loan.

By purchasing an ICE vehicle with Macquarie cash, you will pay around 3.95% for a car loan. Westpac is currently offering 6.49%, and Commbank and NAB will charge you 6.99% for secured loans. This means that the discounted rate of 2.99% represents a significant saving compared to other loan options.

The new rate is just part of Australia’s first specialist electric vehicle buying service, helping your family easily switch to an electric car. Macquarie Vehicle Select makes buying an electric vehicle easier by helping you with the following tasks:

  • find the right electric vehicle
  • negotiate the price on your behalf
  • access financing options
  • organize road tests of electric vehicles
  • negotiate the trade-in of your old car
  • depending on where you live, we may even be able to deliver your new car, charged and ready to go.

The website points out that over the next decade the true extent of climate change will be revealed and one way to help reduce transportation emissions is to make a different choice the next time you upgrade your car: buy a electric vehicle.

There is an excellent FAQ service on the site, which answers many common questions from potential electric vehicle owners.

Can I save money by switching to an electric vehicle?

While the purchase price of an electric vehicle may be higher than that of an equivalent gasoline or diesel vehicle, ongoing operating costs are generally lower due to reduced maintenance requirements and lower fuel costs. lower.
No matter where you are on the electric road, if you want to better understand your options, request a call with our Macquarie Vehicle Select team.

What are the other advantages of electric vehicles?

In addition to reducing your carbon footprint, driving an electric vehicle has other benefits.
A High Quality Driving Experience: Performance is underpinned by advanced and modern technology, resulting in a smooth and quiet ride.
Increased Affordability: Electric vehicles are becoming more affordable as more and more automakers switch to electric.
More places to charge: Public charging stations are being installed in more areas, and the latest models of vehicles are able to drive further.

How can I be sure that my electric vehicle is sufficiently charged?

Before starting your trip in an electric vehicle, it’s important to plan ahead so that you know where you can access a charging station along the way to recharge your charge if you need to.
The network of ultra-fast charging stations is growing steadily along the highways. Once in place, these super-fast chargers can add 200 km to 400 km of range to a modern EV in 15 minutes, making planning easier for EV drivers.~.

Is the Macquarie Vehicle Select service available to anyone who wants to purchase an electric vehicle?

Yes, this is a free service offered by Macquarie. We would be happy to assist you on your car buying journey.

This is a really positive initiative from the Macquarie Group, which offers incentives for a lower interest rate and will certainly make people choose differently when considering their next vehicle. Combining a lower rate and therefore a lower reimbursement, combined with incentives from the state government and the full cost of electric vehicles is really shaping up to be an attractive offer in the second half of 2021.