Green Car Loans

Switch to an electric car with a low interest EV loan

Green Car Loans from 5.79% p.a.* (comparison rate 6.49% p.a.^)

  • Go electric with a green car loan

    Buy a pure electric vehicle (EV) with an RACV Green Car Loan to reduce your emissions and running costs.

    As long as the car you buy is an EV, you'll get a 1.5% discount on your car loan interest rate and free Total Care Roadside Assistance for 3 years (valued at $840)*. Eligibility and loan terms include:

    • New or used battery electric vehicles.
    • Minimum loan amount of $5,000.
    • Maximum loan term of 7 years.

Free roadside assistance

Get our top-end plan, Total Care, free for 3 years. So if you get a flat tyre or run out of charge, you can call for back up.

No ongoing fees

That means lower monthly repayments for the life of your loan.

Members can save more

Members get lower interest rates thanks to our Years of Membership Benefits discount** and 20% off when charging their electric vehicle with Chargefox.

Quick and easy application

You can apply online or over the phone in around 10 minutes. Then our team will review it as quickly as possible.


Your estimated monthly repayment
$293

^ Comparison rate calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments. WARNING: This comparison rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts will result in a  different comparison rate.
 

  1. Apply in around 10 minutes

    You can apply online anytime or call 13 15 60 weekdays from 9am to 5pm.

  2. We'll review the application

    We aim to give you an answer as quickly as possible.

  3. Get your funds

    Once approved, we’ll call you to work out the details. When your car is ready, you should get funds within 24 hours.

  • Satisfaction guarantee

    We know you're getting a great deal on your loan but it's important you are sure too. That's why we offer a 21-day Loan Satisfaction Guarantee.^^

    If you take out a consumer loan with RACV Finance and are not completely satisfied, you can repay the borrowed amount within 21 days and we'll cancel your loan without penalty. We'll also refund any interest and waive any fees.

  • Financial hardship support

    We understand that anyone can experience financial difficulty. Unexpected life events like illness, losing a job, relationship breakdown or a natural disaster happen, and when they do, it can be hard to make loan repayments.

    That's when our dedicated Hardship Assistance Team can help.

  • Dealers and brokers

    While it might look like they’re giving you a lower rate they often charge additional fees. These fees make your monthly repayments higher.

  • Manufacturer 0% and 2% finance

    Low interest rates sound great but there’s usually a catch. The lower the rate, the less you may be able to negotiate on the vehicle purchase price. Always negotiate on price first before advising how you will pay for your car. Remember, if it sounds too good to be true, it probably is.

  • Balloon or residual payments

    These reduce your monthly repayments but you will still owe a lump sum at the end of your loan. You get a nicer car but pay more interest on every payment to do so.

  • Adding to your home loan

    While the interest rate on your home loan might be lower, you’re paying it back over a much longer period. This can increase the total interest on your loan by thousands.

Took all the worry out of buying the car and made the process very easy.

Real testimonial extracted from the 2019 RACV Finance customer feedback survey

The process was smooth and the customer service exceptional.

Real testimonial extracted from the 2019 RACV Finance customer feedback survey

The application was straightforward and the car purchase went very smoothly.

Real testimonial extracted from the 2019 RACV Finance customer feedback survey

A Target Market Determination is a document which describes who a product is appropriate for (target market), and any conditions around how the product can be distributed to customers. It also describes the events or circumstances where we may need to review the Target Market Determination for a loan product. Read the RACV Green Car Loan Target Market Determination (PDF 202.2kB).

What is a green car loan?

A green car loan – sometimes called green car financing or an electric vehicle loan – offers a lower interest rate than regular loans to help fund the purchase of an eco-friendly car.

Electric vehicles are generally more expensive than their petrol equivalents, so a green car loan can incentivise consumers switching to an electric vehicle sooner.

* R.A.C.V. Finance Limited ABN 82 004 292 291 Australian Credit Licence No. 391488. RACV Finance is subject to RACV lending criteria. Conditions, fees and charges apply. 

Statement of notifiable matters  |  Privacy Charter (includes Credit Reporting Policy)  |  Dispute Resolution

RACV Finance also provides NRMA Car Loans.
 

^ Comparison rate calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments. WARNING: This comparison rate is only true for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts will result in a  different comparison rate.
 

**Years of Membership benefit applies to all consumer loan applications (subject to approval) made directly through RACV. Loan applications for Green Loans will not be accepted through a broker or an intermediary.

^^ If you are not completely satisfied with your RACV Finance personal loan, you can return the full loan amount and, if the loan is paid out and finalised within 21 days from the date the loan was funded RACV Finance will refund all application fees and any interest charged; waive the early termination fee (ETF); and cancel any Consumer Credit Insurance or Shortfall Insurance policy taken out and refund all premiums to the loan, product coverage will cease. The Satisfaction Guarantee is not available in conjunction with commercial loan products, leases or loans introduced by Brokers/Dealers.

RACV Finance also provides NRMA Car Loans.