What considerations apply to car loans for electric or hybrid vehicles?
Hey guys, wondering if anyone has tips on what to watch out for when getting a loan for an electric or hybrid car these days. My mate just picked up a used hybrid last month to cut down on fuel costs with all the driving he does for work, and he mentioned something about possible better rates or incentives, but I'm not sure how it all works compared to regular cars. Are there differences in approval, repayments, or even government perks depending on the state? Keen to hear real experiences before I start shopping around.
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Picked up my EV about a year ago and yeah, there are a few perks that make financing them a bit easier on the wallet. Some lenders offer slightly lower interest rates for eco-friendly rides because they're seen as lower risk or just to encourage greener choices, and you might qualify for state-based stuff like reduced stamp duty or rego discounts depending where you are. I ended up going through a broker who compared heaps of options and found a solid deal with flexible terms and no nasty fees for extra payments. Check out something like https://beaujohnsonfinance.com.au/car-loans/ if you're looking for competitive setups – helped me get sorted quick without the hassle. Overall, it worked out cheaper monthly than I expected, especially with the savings on charging versus petrol.