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4.99% p.a.~ fixed rate (comparison rate 6.21% p.a.^)​

When you use a Westpac Car Loan to buy an eligible electric or hybrid vehicle

In the market for a new or used car? Looking to reduce emissions as well as running costs?​

We're offering a fixed rate of 4.99% p.a.~ (comparison rate 6.21% p.a.^) when you use a Westpac Car Loan to purchase an eligible electric or hybrid vehicle.

Why choose our loan for your hybrid or electric car?​

  • Loan amount of $10,000 - $100,000 for an eligible new or used hybrid or electric car
  • Fixed interest rate of 4.99% p.a. ~ (comparison rate 6.21% p.a.^) over 1-7 years​
  • Online application response in 60 seconds​
  • Fixed interest and set loan term make it easier for you to plan ahead​

Other things you'll love


Borrow 10% extra​

You can borrow an extra 10% of the car's value to cover on-road costs. ​

Free car history check​

Buying used? This checks if your car's valued correctly, and hasn't previously been written off or stolen.​

Fast funds​

Once you've signed your online contract, you can have the funds sent straight to the seller.

About secured loans

Securing your loan with the car you're buying gives you a better rate than other loan types. However, if your financial circumstances change and you're unable to make your car loan repayments - and you haven’t applied for financial hardship consideration - we may have to reclaim your car to help pay your loan with us. If you don't want to secure the loan, or your car isn't eligible to offer as security, check out our Unsecured Personal Loan.

How to buy a low-emission vehicle with a Westpac Car Loan​

Get conditional approval

By applying online and getting ‘conditional approval’, you’ll know your budget – great for negotiating.

The application takes around 15 minutes and you’ll get a response in 60 seconds.

Before you get going, it’s worth using our borrowing power calculator to check you’re asking for a realistic loan amount.

Find the right car

With conditional approval, you have 30 days to find the right car.

As this is a secured loan for a hybrid or electric vehicle, the car needs to be eligible. Read our list of eligible vehicles and the ‘Before you apply’ tab below for details.

If the car you want isn't eligible, our Car Loan at a regular interest rate or our Unsecured Personal Loan may be more suitable.


Final loan approval

Once you’ve found the car, you’ll need to add its details into your application. We’ll even run an automatic check to make sure its history and value are as claimed.

Note we might also ask for more information to verify your application, before finalising your loan’s approval. Credit criteria and terms and conditions apply.


Getting the funds

Once you've signed the online contract, you can get the funds sent electronically, direct to the seller.


Common questions about loans for hybrid and electric vehicles

What if I have to wait for my car to be delivered? 

Once you’ve validated all your vehicle’s details, you can finalise your loan and begin repayments – even if you need to wait a short period for the car to be delivered to you. 

Is a green loan the same as an electric car loan? ​

In essence they are the same things. Green car loans are simply personal loans for green cars (not only electric vehicles, but also hybrids - which are considered low emissions vehicles).​

What's more significant than the name is whether they're secured or unsecured loans (secured against the car); what the interest rate is, and whether that's a fixed or variable rate. 

Can I refinance my current 'green car loan'?

If you already have an electric or hybrid vehicle under finance with Westpac or even with a different lender, you could refinance with our secured personal loan. Your car will still need to fit all our eligibility criteria and you'll also need to provide a statement from your current lender of how much is left owing.

Why are the Westpac hybrid and electric car loan interest rates preferential? ​

One of the ways we can show our support for Australia's shift to hybrid and electric vehicles is by offering preferential rates for those vehicles. New or used, dealer or private sale, if the car you're after is less than 7 years old and fits our other eligibility criteria, you could benefit.​

Which hybrid or electric cars qualify for this preferential rate?​

Take a look to see if the car you want is on the list of eligible hybrid or electric cars.

The details

Our Hybrid and Electric Car Loan comes with a fixed rate, meaning that you have the certainty of a set repayment amount throughout the life of the loan. You can also make extra repayments to pay off your loan faster (prepayment fee may apply#).

Key rates and fees

Rate or fee Amount
Petrol/diesel/LPG fixed rate 6.49% p.a.
Comparison rate 7.69% p.a.^
Electric/hybrid fixed rate 4.99% p.a.~
Comparison rate 6.21% p.a.^
Lending establishment fee   $250
Monthly loan account fee $12

Other fees and charges may be payable. 

Things you should know

This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice. Please consider your individual circumstances before applying for a Westpac Personal Loan. Credit criteria, fees, charges, terms and conditions apply. Information correct as of 4 July 2022. 


^Comparison rates: Comparison rates help you understand the true cost of a loan. All comparison rate examples shown are for a personal loan amount of $30,000 and a term of 5 years. WARNING: Comparison rates apply only to the example or examples given and may not include all fees and charges. Different loan 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.

  • Car Loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on a personal loan of $30,000 borrowed for 5 years with the interest rate of 6.49% p.a. (comparison rate 7.69% p.a.), the estimated total amount payable including fees is $36,224. 

#Prepayment fee: If you choose a term greater than 2 years for a Westpac Personal Loan, and pay it out in less than 2 years, there is a prepayment fee of $175. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan.

**Repayment calculator: Any calculations made by you using this calculator is intended as a guide only.  It is for illustrative purposes only and is based on the accuracy of the information provided.  The calculator does not take into account a lending establishment fee that maybe charged for a personal loan application.  The calculation is not an offer of credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified.  The calculations should not be relied on for the purpose of making a decision whether to apply for a personal loan.

##The lending establishment fee will be added to your loan amount. Please read full terms and conditions before making a decision to apply for a Westpac Personal Loan.

^^To qualify for a Car Loan, applicant must meet all credit criteria and the car offered as security must meet all criteria - either new or if used, cannot be older than 7 years at time of application, registered under the applicant’s name, has been made locally or imported by the manufacturer, has never been written off (even if it was repaired), has a paid, fully comprehensive insurance policy with Westpac noted as the financier and is for personal use only. If you’re using a Westpac Car Loan to buy an electric or hybrid car, check our list of eligible vehicles.

~4.99% p.a. (comparison rate 6.21% p.a.) available for eligible electric and hybrid car models only. ​Offer available for customers who apply, are approved and accept their contract by 29 August 2022.​ Offer may be varied or withdrawn at any time. Interest rates are subject to change.

Credit provided by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.