Electric Car Finance. Green Rates for EV and Hybrid Buyers.
Electric and hybrid vehicles qualify for dedicated EV finance products and green rate discounts from a growing number of Australian lenders. Morella Finance compares them all.
Car loans from 6.20% p.a. Comparison rate 6.63% p.a.*
EV-friendly lenders · EV and hybrid finance · Fast pre-approval
EV vs ICE FINANCE
How electric car finance differs from standard car loans.
Standard car finance vs EV finance
Green rate products specifically for EVs
Some lenders offer dedicated green products for electric and eligible hybrid vehicles. These products don't appear in standard comparison results. A broker accesses them directly.
Higher purchase prices, higher loan amounts
Where an EV purchase calls for a larger loan, that sits within the panel's lending capability. Your broker matches the amount you need to the lenders comfortable writing it.
Balloon and residual values need more care on an EV
EV technology is moving quickly, which affects resale values differently to petrol cars. Setting a balloon too high can leave you owing more than the car is worth at term end. Your broker helps you structure a realistic residual.
One application, full EV panel compared
We compare all green rate lenders alongside standard options in one application so you see whether the EV-specific products or standard loans offer the better overall deal.
The process
From EV Selection to Ownership. In 4 Steps.
Tell us the EV you want
Make, model, battery size and whether it's from a dealer, Tesla direct or a private seller.
We compare green and standard rates
Your broker finds all applicable EV-specific products and compares them to standard options.
Review and choose
See green rate vs standard comparison with fees, terms and total cost side by side.
Settlement handled
We pay the dealer or seller and manage any EV-specific settlement requirements.
Electric car finance, from EVs to plug-in hybrids.
Step 1 of 5
How electric car finance works
An EV or plug-in hybrid is financed the same way as any other car with a fixed-term loan, usually secured against the vehicle, repaid over an agreed period. Running on electricity doesn't change the loan structure itself.
What changes from lender to lender is how each one treats EVs, particularly on residual values and maximum terms, because the second-hand EV market has not settled into the same predictable patterns as petrol and diesel.
Why finance an electric vehicle rather than pay cash
Financing an EV preserves your savings the same way financing any car does, and lets you time the purchase around the right model and price rather than waiting until you've saved the full amount.
If you are buying for business, an EV can be financed under a chattel mortgage in the same way as a conventional vehicle, though the exact tax treatment depends on the model and how it is structured. Confirm the specifics with your accountant before you commit.
Choosing the right structure for an EV loan
For a new or near-new EV, secured finance is generally the starting point, no different from a petrol or diesel car. What your broker weighs when lining up lenders is the particular model's price and its expected resale value.
Because the EV market is still young, lenders do not all treat every model the same way. Matching the exact EV you want to a lender whose policy fits it is the part a broker handles for you.
Applying for electric car finance
EV finance is compared across our lender panel with the specific model you're after in mind, not a generic vehicle profile.
Most EV applications receive a pre-approval decision the same day. Once you've chosen the car, we take over the dealer paperwork and manage settlement.
Tips for financing an electric vehicle
Sort your pre-approval before you shop, exactly as you would for any car, so your budget holds regardless of which model you end up choosing.
Ask about each lender's policy on the vehicle's age and expected residual value, since that varies more for EVs than for conventional cars. Confirm the tax treatment with your accountant if the car is going into the business.
Electric car finance at a glance
- EVs and plug-in hybrids are financed the same way as any other vehicle
- Lender policy on EVs varies more than it does for petrol or diesel cars
- Business buyers can look at a chattel mortgage, with the tax treatment one for your accountant
- EV options are compared across our lender panel with the specific model in mind
- Most EV applications get a pre-approval decision the same day
EV Finance That Reflects the Value of Going Electric
The finance market has adapted to the EV transition. Green rate products, charger-inclusive loans and EV-aware balloon structuring are all part of the picture. We navigate all of it for you.
Get my quoteGreen Rate Access
Several lenders on our panel offer discounted rates specifically for EV and hybrid vehicle purchases.
All EV Brands Considered
Tesla, BYD, MG, Kia, Hyundai, Mercedes, BMW and more. All makes and models financed.
Novated Lease Coordination
For employer-provided EVs, we can coordinate with your employer's novated lease provider.
High-Value EV Finance
Luxury EV purchases at $80,000-$150,000 are well within the panel's lending capability.
EV-Aware Balloon Structuring
EV resale values behave differently to petrol cars. We help you set a balloon or residual that reflects realistic end-of-term value.
Charging Infrastructure Finance
Some lenders allow the cost of home charging installation to be included in the vehicle loan.
Car Finance Repayment Calculator
Estimate your repayments. Adjust the sliders to match your situation.
Monthly repayment
$580
per month
Weekly
$134
Total repayment
$34,799
Estimates only. Your actual rate depends on your profile and lender. Get a real comparison.
Get my quoteAbout the starting rate
6.00% p.a. is a starting point for estimating repayments only. It is not a quote, not an offer of finance, and not a rate available to every applicant. Your actual rate depends on the lender, the asset, the loan term, the loan amount and your circumstances. Adjust to model scenarios.
More Car Finance Options
Finance first.
Then the car.
Your broker compares the market against your car, your deposit and your profile, so any offer you are shown becomes something you can measure rather than something you have to accept.
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Who We Help with EV Finance
EV First-Timers
First electric car, navigating green rates and loan structures.
Environmental Buyers
Prioritising sustainability alongside the right finance structure.
Business EV Buyers
Chattel mortgage structures for business-use EVs.
Luxury EV Buyers
High-value Tesla, BMW or Mercedes EV finance.
ICE-to-EV Switchers
Transitioning from petrol to electric, financing the difference.
18 years or older
Australian citizen, permanent resident, or eligible visa holder
Regular income: PAYG, self-employed or ABN considered
Valid driver's licence
Vehicle must be a recognised EV or eligible hybrid for green rate products
Electric Car Finance. Common Questions.
Rates on our panel start from 6.20% p.a. (comparison rate 6.63% p.a.)*. The rate you're offered depends on your credit history, the electric car's age and the loan term. Tell us what you're buying and we'll compare lenders to find you the best rate we can. The comparison rate example and warning are at the bottom of this page.
Some lenders offer dedicated green products for electric and eligible hybrid vehicles. Not all lenders offer these products and not all EVs qualify. Your broker will identify all applicable green options for your specific vehicle.
Yes. Tesla sells direct and has its own finance product. Your broker will compare Tesla Finance against the open market to confirm how it compares against the open market for your situation. We regularly finance Tesla vehicles through third-party lenders.
A balloon lowers your monthly repayment by deferring a lump sum to the end of the loan. On an EV the right balloon size matters more than usual, because EV resale values move with battery technology and new-model pricing. Your broker helps you set a residual that reflects a realistic end-of-term value.
Most lenders on our panel can comfortably finance EVs up to $150,000 or more. Luxury EVs including high-spec Tesla, BMW and Mercedes models are well within standard lending limits for qualified borrowers.
Some lenders allow the cost of a home EV charger installation to be added to the vehicle loan. This is not available across all of the panel. Your broker will identify lenders who offer this option.
Yes. Most lenders accept current-model EVs as security without restriction. For older or less common EV models, the vehicle's residual value may affect some lenders' willingness to take security. Your broker will identify whether any restrictions apply to your specific vehicle choice.