Hybrids and electrics: why loans.com.au think owning a green car is a no-brainer

Ceyda Erem   |   21 Nov 2018

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For some Aussies, using a reusable coffee cup is the way we do our bit for the environment, but others prefer to think bigger - four wheels bigger.

According to Roy Morgan research from July 2018, 51.6% of Aussie drivers over the age of 18 agreed they ‘would seriously consider buying’ a hybrid vehicle, up from 48.7% three years earlier.

If you didn’t know, a green car is a type of vehicle that produces less CO2 emissions - minimising the impact on the environment.

Hybrid cars use a combination of both electricity and petrol to function, while electric cars use only electricity for power.

RELATED: Here’s how to find the best car loan in 2018 

And despite the growing number of Aussies considering an eco-friendly car, it appears that going green is steadily become a trend among drivers.

“A green car should not be seen as a radical choice. It is simply a car that produces less emissions than most other cars in the same category. They generally do that by using less fuel, so you save money on running costs at the same time as you help the environment,” said loans.com.au Managing Director, Marie Mortimer.

“Instead of asking why we should drive a green car, I think we should be asking why we would drive anything but an efficient green car.”

The top of the line

When it comes to the types of vehicles that dominate the green car market, government website, greenvehicleguide.gov.au, found that the top five CO2 Performers in 2018 were:

- BMW i3

- Renault ZOE

- Renault Kangoo ZE

- Tesla Model S

- Tesla Model X

RELATED: Taking out a car loan is about to get a whole lot fairer, thanks to ASIC’s latest ban

But while everyone wants to do their bit for the environment, it can often be pricey to do so. With the cost of an electric vehicle ranging from $30,000 - $40,000, it’s not surprising that more Aussie drivers are looking to car loans to help cover the cost.

And since electric and hybrid cars are a bit different than everyday vehicles, many providers have started playing catch up, designing loan products that are a better fit for the new wave of vehicles.

Only last week, the loans.com.au Green Car Loan was awarded the 2018 Mozo Experts Choice Award for Best New Loan Product, a product which according to Mortimer, is already producing notable results.

“We are really proud to receive this expert recognition for an innovative product that took a lot of work to develop. Our Green Car loan has been well received by borrowers already but hopefully this will convince even more people to make the right choice for the environment and their hip pocket,” she said.  

So if you’re ready to get yourself a new set of wheels, you can check out the rest of our award winning car loans by looking through the full winners list for this year’s Mozo Experts Choice Personal Loan Awards

5 car loans to help fund your dream car - rates updated daily

  • Promoted

    loans.com.au

    loans.com.au

    New Car Loan (Up to 2 years old, Fixed, Secured)

    5.44% p.a.to 5.94% p.a.

    5.99% p.a.to 6.5% p.a.based on $30,000
    over 5 years

    $400.00upfront and $0.00/month

  • Promoted

    Australian Military Bank

    Australian Military Bank

    Car Loan - Excellent Credit (Up to 5 years old, Variable, Secured)

    5.71% p.a.to 8.66% p.a.

    6.57% p.a.to 10.07% p.a.based on $30,000
    over 5 years

    $100.00upfront and $10.00/month

  • Promoted

    MyState Bank

    MyState Bank

    Secured Personal Loan (vehicles up to 2 years old, Variable)

    7.99% p.a.

    8.96% p.a.based on $30,000
    over 5 years

    $200.00upfront and $10.00/month

  • Promoted

    loans.com.au

    loans.com.au

    Clean Green Car Loan (New, Fixed, Secured)

    4.74% p.a.to 5.24% p.a.

    5.29% p.a.to 5.8% p.a.based on $30,000
    over 5 years

    $400.00upfront and $0.00/month

  • Promoted

    CUA

    CUA

    Secured Car Loan (Fixed)

    6.79% p.a.

    7.16% p.a.based on $30,000
    over 5 years

    $265.00upfront and $0.00/month

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