As Aussies are charging towards an electric future, Community First Credit Union introduces a new low rate green car loan
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.
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New Car Loan
Fixed, Secured, $5,000-$100,000
Interest rate
comparison rate
Monthly repayment6.57% p.a.to 18.99% p.a.7.19% p.a.to 21.78% p.a.based on $30,000
over 5 yearsGet 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 up to 3 months. 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.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.
CompareCompare- Interest rate
- 6.57% p.a.to 18.99% p.a.
- comparison rate
- 7.19% p.a.to 21.78% p.a.based on $30,000
over 5 years
- Interest rate
- 6.57% p.a.to 18.99% p.a.
- comparison rate
- 7.19% p.a.to 21.78% p.a.based on $30,000
over 5 years
- Upfront fees
- $250.00
- Monthly fee
- $0.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- $0.00
- Minimum loan amount
- $5,000.00
- Maximum loan amount
- $100,000.00
- Minimum loan term
- 1 Year
- Maximum loan term
- 7 Years
- Security required
- Vehicle
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New Car Loan
Fixed, Secured
Interest rate
comparison rate
Monthly repayment7.29% p.a.to 16.99% p.a.8.00% p.a.to 17.77% p.a.based on $30,000
over 5 yearsCompetitive interest rates for vehicles up to 3 years old (new and demo). Maximum loan term of 7 years. No ongoing fees. Dealer/private sale acceptable. Pre-purchase approvals available.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 7.29% would cost $36,387.95 including fees.
CompareCompare- Interest rate
- 7.29% p.a.to 16.99% p.a.
- comparison rate
- 8.00% p.a.to 17.77% p.a.based on $30,000
over 5 years
- Interest rate
- 7.29% p.a.to 16.99% p.a.
- comparison rate
- 8.00% p.a.to 17.77% p.a.based on $30,000
over 5 years
- Upfront fees
- $499.00
- Monthly fee
- $0.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- $325 if paid before last 6 months of loan term, otherwise $0.
- Minimum loan amount
- $5,000.00
- Maximum loan amount
- $150,000.00
- Minimum loan term
- 1 Year
- Maximum loan term
- 7 Years
- Security required
- Vehicle
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Better Car Loan Special Offer
Fixed, Secured
Interest rate
comparison rate
Monthly repayment6.48% p.a.6.89% p.a.based on $30,000
over 5 yearsGet a fixed rate car loan for amounts over $20,000 with Police Credit Union. Make additional repayments at any time without penalty. Free online redraw. Available for new and used cars. Can also be used for motorcycles, boats, caravans, trailers or any registrable vehicle.
Repayment terms from 1 year to 5 years. Representative example: a 5 year $30,000 loan at 6.48% would cost $35,497.21 including fees.
CompareCompare- Interest rate
- 6.48% p.a.
- comparison rate
- 6.89% p.a.based on $30,000
over 5 years
- Interest rate
- 6.48% p.a.
- comparison rate
- 6.89% p.a.based on $30,000
over 5 years
- Upfront fees
- $295.00
- Monthly fee
- $0.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- $0.00
- Minimum loan amount
- $20,000.00
- Maximum loan amount
- -
- Minimum loan term
- 1 Year
- Maximum loan term
- 5 Years
- Security required
- Vehicle
Read reviews and learn more about Police Credit Union car loans
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New / Demo Car Loan
Variable, Secured
Interest rate
comparison rate
Monthly repayment6.24% p.a.7.36% p.a.based on $30,000
over 5 yearsLow 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.
Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 6.24% would cost $35,880.27 including fees.
CompareCompare- Interest rate
- 6.24% p.a.
- comparison rate
- 7.36% p.a.based on $30,000
over 5 years
- Interest rate
- 6.24% p.a.
- comparison rate
- 7.36% p.a.based on $30,000
over 5 years
- Upfront fees
- $400.00
- Monthly fee
- $8.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- $700.00
- Minimum loan amount
- $5,000.00
- Maximum loan amount
- $150,000.00
- Minimum loan term
- 3 Years
- Maximum loan term
- 7 Years
- Security required
- Vehicle
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*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.
* 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.
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