Things to consider when financing an electric vehicle

Consider your loan options before making the electric switch.

Robyn Slater
Robyn Slater 19 Jan 2024 ・ 2 min read

With more electric vehicle (EV) models and charging stations being rolled out across Australia, you may be wondering how you can get your hands on a greener car.

As the EV market continues to accelerate, there may be more lending options than you think.

Whether it’s your first EV or you’ve taken this environmentally-friendly route before, here are some things to consider when deciding how to fund your purchase.

Car loans

Whether your car is for personal or commercial use, there are many car loans available to help you get behind the wheel of your new EV sooner.

Some lenders like Liberty, even offer reduced rates on car loans for electric vehicles. To explore your options and what could work for you, reach out to your Liberty Adviser.

Personal loans

Depending on your circumstances, a personal loan is another lending option with fast approval times that could put you in the driver’s seat.

Unlike a car loan, a personal loan gives you the flexibility to buy your vehicle and use any remaining funds for either car-related expenses or another purpose.

Driving towards savings

Not only could relying on electric charging rather than fuel make a big difference to your wallet – there may also be other ways to help your hip pocket when buying an EV.

Depending on your state or territory, you may be eligible for free or discounted stamp duty and registration, or other special rebates and subsidies.

Ask those in the know

Before driving off, consider speaking with a broker or Liberty Adviser to help find a solution fit for your lending needs.

They can help you navigate the lending process from start to finish – including assisting you to secure car loan pre-approval so you can buy with confidence.

Get moving on your vehicle plans today by reaching out to your local Liberty Adviser.

Robyn Slater
Robyn Slater Author
Robyn Slater is a writer for Liberty with a passion for simplifying complex concepts using clever copy. She enjoys playing social netball and keeping up to date with all things pop culture. Robyn is currently completing a Bachelor of Business at Deakin University.