loans.com.au Clean Green Car Loan

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

loans.com.au Clean Green Car Loan Review

Review published: 23 January 2018

What's hot:

  • Low 4.74% interest rate

  • Flexible repayment options

What's not:

  • $400 application fee

Mozo snapshot:

If you are in the market for a green car loan this budget friendly option comes with a low fixed interest rate starting from just 4.74% (5.29% comparison rate). You also have the ability to choose whether you want to make repayments weekly, fortnightly or monthly. However if you’re after a smaller loan the $400 application fee is something to keep in mind.

Key features:

If you’ve got your eye on an environmentally friendly car then it's worth checking out a loan that offers a low rate in return for your eco efforts. 

With rates coming in from 4.74% (5.29% comparison rate) the loans.com.au Clean Green Car Loan does just that.The loan amounts on offer range from $5,000 to $100,000, a pretty broad range for you to grab almost any set of wheels you’re looking to get. Loan terms range from 3 to 5 years.

You’re able to choose from weekly, fortnightly or monthly repayments so you can personalise your repayment options to match up to when your paycheck rolls on in. You also have the option to make free extra repayments in order to pay off your loan quicker and save on interest - just remember that if you pay off the whole thing, an early repayment penalty may apply.


Who it's good for:

People who want to invest in an environmentally friendly vehicle without breaking the bank to do so. If you’ve fallen in love with a diesel guzzling half-car, half-tank then this car loan is not for you.

Any catches?

While there’s a lot to love with this loan, there is a hefty $400 application fee to keep in mind. So if you are looking for a smaller loan then this could really add to the total price.

Also if you are able to pay back the loan early, you’ll have to pay a $700 early repayment penalty to do so. Although this doesn’t apply in the last year of the loan.

The Mozo community has not yet rated loans.com.au for this personal loan.

Rates

  • Fixed

  • 4.74% p.a.to 5.24% p.a. fixed

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

Fees

  • $400.00

  • $0.00

  • $20.00

  • $0.00

  • $700.00

Other financial bits

  • $5,000.00

  • $100,000.00

  • 3 Years

  • 5 Years

  • Vehicle

Features

  • Weekly, Fortnightly, Monthly

  • yes

  • no

  • Loan for approve green cars only. $700 early repayment penalty applies on pro-rata basis. No penalty charged in the last year of the loan.

  • none

About loans.com.au

100% Australian owned, loans.com.au opened its doors in 2010 with a vision of "making it easier for people to own and invest in property". loans.com.au offers a winning combination of low interest rates and fees and a commitment to excellent customer service. loans.com.au runs its own call centre and caters to home, investment and personal finance borrowers.

*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. WARNING: 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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