If buying your first car is a major milestone, buying your first electric car is the next.
But switching to electric comes with layers of new considerations, from where to charge to financing and ownership expenses. The good news for first time buyers is that Australian governments are encouraging EV uptake through various incentives, rebates and tax concessions. Understanding what you may be eligible for can help you make more informed (and economical) decisions.
Here’s everything you need to know about switching to electric and receiving government assistance in 2026.
Click ‘Apply Now’ to start your electric vehicle loan in just 4 minutes.
Governments are Supporting EV Adoption
Federal and state governments have identified EVs as a key part of Australia’s long term transport strategy. There are many reasons why they’re introducing tax breaks, rebates and other incentives:
To lower total vehicle emissions
To reduce our reliance on fossil fuels
To improve energy efficiency
To support innovation and emerging transport technologies
A number of schemes have been introduced over the last 10 years. While the programs available may change, the overall goal remains the same: make EVs for accessible for first time buyers.
Rebates Aren’t the Only EV Incentives
People often think of the word “incentives” as being interchangeable with “rebates”. Some programs do include financial incentives, but government assistance can come in many forms:
Registration concessions
Tax benefits
Stamp duty relief
Fringe Benefits Tax (FBT) exemptions
Reduced ownership costs
For a first time buyer, any kind of saving is helpful. They all add up and make a meaningful impact on the affordability of your EV.
Federal Government Support
One of the best known EV incentives is the Fringe Benefits Tax (FBT) exemption for eligible electric vehicles.
This primarily benefits employees who receive EVs through salary packaging and other business arrangements, but it has helped increase awareness and adoption across all buying classes. Compared to traditional ownership, the FBT exemption could significantly reduce your total cost, assuming your employment allows.
Eligibility requirements vary, so it’s worth asking our crew for advice and consulting your employer before making a decision.
What About in WA?
The WA incentive landscape has shifted a fair bit in recent years. Earlier rebate programs have concluded, but a range of future programs have been proposed:
Registration discounts
Rebate programs
Charging infrastructure support
Other EV ownership incentives
It’s worth checking the latest information before purchasing. And if you’re ineligible for state or federal programs, don’t worry – it’s very likely the ongoing savings of EV ownership will still make a significant impact on your weekly budget.
Don’t Let Government Incentives Drive Your Decision
Government incentives are a handy bonus and they’ll certainly make your EV more affordable. But they shouldn’t be the factor behind your purchase.
What’s more important is the complete cost of electric vehicle ownership, which includes:
Vehicle purchase price
Loan costs
Charging expenses
Insurance
Registration
Long term running costs
Many buyers find the biggest financial benefits of EV ownership come from reduce fuel and maintenance costs. Government incentives are just the cherry on top.
How Finance Fits Into the Equation
Government assistance might offset the purchase price, but your loan structure is a key part of what makes your electric vehicle affordable.
As EV demand grows, more and more lenders are introducing:
EV specific finance products
Green vehicle loans
Competitive interest rates
Flexible finance structures
If you’re a first time buyer, finding the best structure for your electric car loan (including rates, term and deposit) could have a bigger impact than any incentive program.
That’s why many buyers choose to work with a broker (like us!) to explore multiple options before making their final decision.
Why First Time EV Buyers Choose Loans Unlimited
Our crew help first time EV buyers compare finance solutions across a panel of 40+ lenders. We assist with:
Exploring your first vehicle purchase
Comparing EVs and petrol vehicles
Looking for pre-approval
Interested in low-interest EV loans
Trying to understand your budget
The best part? Your single application is seen by our entire panel and, unlike other brokers, we don’t trigger any formal credit checks until a deal is locked in. That means minimal damage to your credit score.
Our crew want to help buyers understand the full financial picture and secure fair finance – not just chase the headline rate or government incentive.
Apply for an EV or Hybrid Car Loan Online Today
Government incentives make EV ownership a lot more attractive, but don’t forget that they’re only one part of the equation. Only once you understand the full picture – running costs, loan payments, maintenance and much more – will you get a clear idea of your EV savings.
If you’re considering switching to an EV and are looking to finance your first vehicle, our crew will help you explore all of the options.
Are you a first time buyer looking for an online electric car loan with a trusted, Perth based broker? Click apply now to get started.
