Car buying options: 3 ways to get an electric vehicle

By Paige Sutton · · 2 min read
Fact Checked
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Man charging electric vehicle

Electric vehicles (EVs) and eco-friendly cars are the ‘it girl’ of the automotive world at the moment. They’re sleek, expensive, and on the rise - not to mention they have a great publicist. 

The Federal Chamber of Automotive Industries (FCAI) says that EVs accounted for 8 per cent of sales in April 2023, showing a sharp increase compared to the 1.1 per cent in April 2022. 

Eco-friendly options are definitely trending, with 5 out of the top 10 models sold in April offering some form of electrification. You aren’t alone if you are wanting to get a piece of the EV pie.

If you’re interested in driving an electric vehicle, chances are you googled for some tips, maybe a few rough figures and a plan of attack. You probably saw that EVs aren’t cheap, but there are a few options you can consider if you don’t have a brief case of cold hard cash to buy it outright. Depending on your lifestyle and financial goals, consider these options:

  • Novated leases 
  • Energy subscriptions 
  • Green car loan 

Novated lease 

A novated lease is an alternative way to finance your car that you may not have heard of. 

Here’s how a novated lease works into four simple steps:

  1. First, you get a lease agreement with a finance provider.
  2. Your employer sets you up with a ‘salary sacrifice’ arrangement to cover repayments under the novated lease from your pre-tax salary.
  3. Your employer makes repayments to your finance provider on your behalf from your pre-tax salary.
  4. Take the car with you if you change jobs and continue to make repayments directly or transfer your agreement to your new employer.

You may be interested in this you’re looking to reduce your taxable income and increase your tax savings. You can also include your car running costs in the payments which is convenient. There are terms and conditions as to what happens at the end of the lease, so always do research to see if this option is right for you.

Energy subscriptions 

Electric vehicle energy subscriptions are for those looking for less commitment but are still wanting to get in on the action. In this subscription you will pay a weekly fee to rent an EV, and may be subject to conditions like a kilometre limit. The rental term can go for 3, 6 or 12 months, or, month by month plans. 

This option gives you flexibility to try an EV without ownership, and can save money on fuel - or lack thereof. There are also bonus offers where you can trade in your rental car for a newer model every 6 months to stay on top of current technology.

Green car loan 

Green car loans are now offered by lenders to encourage the sale of more eco-friendly vehicles. They differ from standard car loans as they may come with lower interest rates or certain waived fees. There are eligibility terms and conditions that vary lender to lender regarding the car model and what constitutes an eco-friendly car. Electric vehicles fall under the eco-friendly category and could be the option for you if you’re looking to build equity in the car and have consistent repayments. 

You can still buy an EV with a regular car loan if that suits your needs. Choosing the right car loan comes down to having the best research available, at Mozo we crunch all the numbers for you. Check out our options below to compare which car loans may be right for you.

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Important disclosures and comparison rate warning*
RACV - Green Car Loan (Fixed)
  • Fixed rates from 5.49% p.a. (6.19% p.a. comparison rate*)
  • Free roadside assistance with 3 years included RACV Total Care (T&Cs apply)
  • No ongoing service fees
Find out more

Helping you go electric, the RACV Green Car Loan offers competitive fixed rates from 5.49% p.a. (6.19% p.a. comparison rate*) on eligible vehicles. Borrow from $5,000 for terms between 1-7 years with no ongoing service fees and extra repayments available. There is a $499 application fee, and there is no redraw facility on this car loan. Borrowers can also score 3 years free roadside assistance with included RACV Total Care (T&Cs apply). RACV Members may also be eligible for discounted interest through the Years of Membership Benefits Program (T&Cs apply).

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can search our database of 91 car loans using the filters.
Last updated 14 November 2025 Important disclosures and comparison rate warning*

Car loan comparisons on Mozo

  • Promoted

    Car Loan

    • Variable, Secured
    Interest rate from
    5.99 % p.a.
    Comparison rate from
    7.12 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Low variable car loan rate for purchasing new and demo vehicles from dealers. Personalised loan amounts between $5,000 and $150,000. Flexible repayment options. Choose between the 3 to 7 year loan terms. Good credit history. Stable employment history and Australian citizenship or PR required.

  • Promoted

    New Car Loan

    • up to 4 years old, Fixed, Secured
    Interest rate from
    5.99 % p.a.
    Comparison rate from
    6.34 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Fast online conditional approval. No monthly account fee. Unrestricted additional repayments. No penalty for early payout, and a fast application process. Borrow up to $125,000. Apply online in under 10 minutes.

  • Promoted

    Used Car Loan

    • Fixed, Secured, No vehicle age limit, $5,000-$100,000
    Interest rate from
    6.28 % p.a.
    to
    18.99 % p.a.
    Comparison rate from
    6.28 % p.a.
    to
    21.78 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $611
    Go to site

    Get a competitive fixed interest rate on a secured used car loan of up to $100,000 depending on your credit score. No vehicle age limits. Easy online application. Fast pre-approval. Pre-approved funds held for 1 month. No monthly account keeping fees, no exit fees and no early repayment fees. Flexible weekly, fortnightly or monthly repayments on terms from 1 to 7 years.

  • Promoted

    Express Personal Loan

    • Secured
    Interest rate from
    16.95 % p.a.
    to
    29.95 % p.a.
    Comparison rate from
    32.99 % p.a.
    to
    45.5 % p.a.
    Based on $10,000 over 3 years
    Monthly repayment
    $713
    Go to site

    Access fast finance on loans from $3,000 to $25,000 with a Jacaranda Finance Personal Loan. Terms from 25-36 months. Check if you qualify with no impact on your credit score. Enjoy a speedy, online approval.

  • Promoted

    New Car Loan

    • Fixed, Secured, $5,000-$100,000
    Interest rate from
    6.28 % p.a.
    to
    18.99 % p.a.
    Comparison rate from
    6.28 % p.a.
    to
    21.78 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $611
    Go to site

    Get a competitive fixed interest rate on a secured new car loan of up to $100,000 depending on your credit score. Easy online application. Fast pre-approval. Pre-approved funds held for 1 month. No monthly account keeping fees, no exit fees and no early repayment fees. Flexible weekly, fortnightly or monthly repayments on terms from 1 to 7 years.

  • Promoted

    Car Loan

    • Fixed, Secured
    Interest rate from
    6.54 % p.a.
    Comparison rate from
    7.67 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $613
    Go to site

  • Unsecured Personal Loan

    • Fixed
    Interest rate from
    5.76 % p.a.
    to
    24.03 % p.a.
    Comparison rate from
    5.76 % p.a.
    to
    24.52 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $606
    Go to site

    Fast, easy and 100% online, this is a low cost loan with no ongoing fees or extra repayment penalties. It's perfect for savvy borrowers with great credit. If you’re over 18 and earn above $30,000, you could qualify (other eligibility criteria may apply).

  • Debt Consolidation Loan

    Interest rate from
    5.76 % p.a.
    to
    24.03 % p.a.
    Comparison rate from
    5.76 % p.a.
    to
    24.52 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $606
    Go to site

    Roll multiple debts into one loan to streamline your finances with one set of repayments and one interest rate. Competitive fixed interest rates with no monthly or early repayment fees and flexible repayment options. Easy online application and funding in as little as 24 hours (subject to approval).

  • New Car Loan

    • up to 4 years old, Fixed, Secured
    Interest rate from
    5.99 % p.a.
    Comparison rate from
    6.34 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Fast online conditional approval. No monthly account fee. Unrestricted additional repayments. No penalty for early payout, and a fast application process. Borrow up to $125,000. Apply online in under 10 minutes.

  • Car Loan

    • Variable, Secured
    Interest rate from
    5.99 % p.a.
    Comparison rate from
    7.12 % p.a.
    Based on $30,000 over 5 years
    Monthly repayment
    $608
    Go to site

    Low variable car loan rate for purchasing new and demo vehicles from dealers. Personalised loan amounts between $5,000 and $150,000. Flexible repayment options. Choose between the 3 to 7 year loan terms. Good credit history. Stable employment history and Australian citizenship or PR required.

Showing 8 results from 91 car loans. Use the filters to see more

* 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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