New South Wales government pushes electric vehicle buyers and June’s best green car loans


This week’s 2021-22 NSW budget announcement revealed new measures to support the adoption of electric vehicles (EVs).

According to the NSW Budget Snapshot, the incentive package includes:

  • Motor vehicle duty exemptions for qualifying new and used zero and low emission vehicles.
  • A rebate of $ 3,000 for battery electric vehicles (BEVs) and fuel cell electric vehicles under $ 68,750 as of September 1, 2021, for the first 25,000 eligible sales.
  • An investment of $ 171 million in charging infrastructure over the next four years to ensure the accessibility of ultra-fast charging stations, focusing on major highways and regional tourist destinations.
  • Public procurement of electric vehicles for the fleet, targeting 50% of public fleet purchases by 2025-2026 and 100% by 2029-30.

The announcement also revealed that a 2.5 cents per kilometer road charge for electric vehicles will be introduced (effective July 1, 2027 or when battery electric vehicles reach 30% of new vehicle sales) to provide a sustainable and efficient source of road finance. in the future.

In his budget speech, NSW Treasurer Dominic Perrottet said: “We are legislating today to remove the stamp duty on electric vehicles, for a greener future, where the stamp duty on all cars will be a thing of the past. “

“We are putting in place a better system of financing our roads, by introducing a user charge on electric vehicles, but only once they have reached critical mass. So we are promoting adoption, not hindering it, ”he said.

Earlier this week, Federal Chamber of Automotive Industries (FCAI) chief executive Tony Weber said the direction set by the NSW government “has the capacity to launch a penetration serious electric vehicles in Australia “.

“As the future of mobility continues to transform rapidly, now is the time for governments to relieve motorists of a myriad of outdated, confusing and inefficient charges and replace them with a simplified approach to user pricing. from the road, ”he said.

“The electric vehicle incentive program is in line with actions taken by forward-thinking governments around the world. “

Currently, there are a number of auto loan providers who are incentivizing electric vehicle buyers by offering eco-friendly auto loans at rates that are often more competitive than their standard auto loan products.

For example, at the time of writing this article, Loans.com.au’s eco-friendly car loan offering has rates starting at 3.97% (4.51% compare rate), while its rates start at 3.97% (4.51% compare rate). Standard auto loans start at 4.67% (comparison rate 5.22%).

If you’re in the market for a new set of wheels and considering some eco-friendly options, you might want to compare your car loan first.

To help you with your research, RateCity has put together some of the top rated green car loans for June 2021.

(Rankings are correct at time of posting. Please note that lenders may swap places on the list as interest rates and fees change and RateCity’s tracker reflects those movements.)

Top Rated Green Auto Loans


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