Westpac logo

Westpac Hybrid or Electric Car Loan

Advertiser disclosure
Interest rate from
5.49% p.a.to 12.49% p.a.
Comparison rate from
6.70% p.a.to 13.65% p.a.based on $30,000
over 5 years
Upfront fee
$250.00

Mozo editorial review Westpac Hybrid or Electric Car Loan - last updated: 5 July 2023

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What's hot
  • Competitive fixed rate starting at 5.49% p.a. (6.70% p.a. comparison rate*)
  • Repayment terms from 1 to 7 years
  • Loan amount from $10,000 - $100,000
What's not
  • $12 monthly fee
Mozo snapshot

If you’re looking for an electric car loan, this low fixed rate loan might be for you. With interest rates from 5.49% p.a. to 12.49% p.a. (6.70% p.a. to 13.65% p.a. comparison rate*) and the promise of a 60-second application response, it could get you started on your green car journey quickly.

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Key features

If you’ve got your eye on an eco-friendly car it’s worth checking out a loan with a low rate. With fixed rates from 5.49% p.a. to 12.49% p.a. (6.70% p.a. to 13.65% p.a. comparison rate*), the Westpac Electric Car Loan does just that. The loan amounts on offer range from $10,000 to $100,000, giving you a good range to grab almost any eco-friendly car. 

According to Westpac, the application only takes about 15 minutes and you’ll get a response in 60 seconds! That means you can start hunting for your dream green car as soon as you want. 

Not only that but you can choose your repayments to be weekly, fortnightly or monthly so it can match up to when your paycheck rolls in. You also have the option to make free extra repayments to pay off your loan quicker and save on interest. 

The loan terms range from 1 to 7 years. However, be mindful that if you choose a term longer than 2 years and pay it out before the term finishes you’ll get a $175 penalty fee.

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Who is it good for

Anyone who wants to invest in an environmentally friendly vehicle without breaking the bank.

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Any catches

While there is a lot to love about this loan, there is a $250 upfront fee you need to keep in mind. Also, there is a $12 monthly account fee you must add to your budget.

Details

Rates and fees information correct as at 5 March 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

Fixed

5.49% p.a.to 12.49% p.a. fixed

6.70% p.a.to 13.65% p.a.based on $30,000
over 5 years

Fees

$250.00

$12.00

$15.00

$0.00

0

Other financial bits

$10,000.00

$100,000.00

1 Year

7 Years

Vehicle

Features

-

Weekly, Fortnightly, Monthly

yes

no

$175 prepayment fee if you choose a term >2 years and pay it out in less than 2 years.

none

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.

Customer Reviews

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About Westpac

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6.75% p.a.to 26.95% p.a.

6.75% p.a.to 26.95% p.a.based on $30,000
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Unsecured Personal Loan

5.76% p.a.to 24.03% p.a.

6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years

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Debt Consolidation

5.76% p.a.to 24.03% p.a.

6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years

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6.57% p.a.to 8.48% p.a.

7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years

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14.95% p.a.to 27.95% p.a.

29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years

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11.20% p.a.to 14.64% p.a.

11.68% p.a.to 15.13% p.a.based on $30,000
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Unsecured Personal Loan

6.75% p.a.to 26.95% p.a.

6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years

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Debt Consolidation

5.76% p.a.to 24.03% p.a.

6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years

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Unsecured Personal Loan

6.75% p.a.to 26.95% p.a.

6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years

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Harmoney

Unsecured Personal Loan

5.76% p.a.to 24.03% p.a.

6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years

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Low Rate Personal Loan

6.57% p.a.to 8.48% p.a.

7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years

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Debt Consolidation

5.76% p.a.to 24.03% p.a.

6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years

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Low Rate Personal Loan

11.20% p.a.to 14.64% p.a.

11.68% p.a.to 15.13% p.a.based on $30,000
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