Plug-in hybrid vehicles (PHEVs) are becoming increasingly popular as they allow you to reduce fuel costs and emissions while retaining the flexibility of a petrol engine.
At Loans Unlimited, our crew are committed to helping buyers find fair and affordable loans for PHEVs. We work with a panel of 40+ lenders to gain the fast approvals and flexible structures you need to make the transition.
A PHEV lets you complete shorter commutes using the electric motor alone. If you’re mainly travelling around metro areas, you’ll notice your fuel use drop significantly and the savings will start to stack up.
If the battery range is ever exhausted, the petrol engine will kick in. That means you’re less reliant on public chargers and can make longer, regional trips just as you used to.
EVs are growing in popularity, but not everyone is able to make the switch. A PHEV is the perfect option if you frequently travel long distances, don’t have access to charging at home or just feel more comfortable making a gradual transition to electric driving.
They’re like a stepping stone between your petrol car and an EV.
Plug-in hybrids operate only partly on petrol, so they produce lower emissions than your current car. This is especially true for city driving.
If you’re looking to save on fuel and do your part to reduce environmental impact – but still need the flexibility of a petrol engine – a PHEV is the option for you
Our team are based right here in WA and will take the time to understand your driving habits, budget and goals before finding you a loan. No call centre scripts or sales jargon, just real support.
You need quick answers when shopping for a car. Apply on Monday, get pre-approved within 1 hour and receive the full green light by the end of the week.
Our crew can help you finance a range of PHEVs, including:
Everyday passenger vehicles
SUVs and family vehicles
Commercial use vehicles
Business and fleet purchases
Our lenders are also open to supporting new or used vehicles and private or dealership sales. Just let our crew know what you’ve been looking at.
Move the sliders to see an estimated repayment, then proceed to apply.
This is an estimate only and not a loan offer. Actual rates and repayments depend on lender assessment, credit history, and loan conditions.
A plug-in hybrid, or PHEV, combines a petrol engine with a rechargeable electric battery. It’s different from a traditional hybrid because it can be charged externally, whether at home or via public chargers.
Boosted by external charging, the battery is more powerful and efficient and you’ll be able to make shorter trips without using any petrol.
Many of the buyers we’ve worked with see a PHEV as a middle ground between fully petrol cars and EVs. They get all the financial and environmental benefits of an EV but retain the flexibility of a petrol engine.
PHEVs provide excellent flexibility, but only to drivers whose lifestyle they suit.
Before you buy, consider these questions:
What’s your average daily driving distance?
Are you able to charge the vehicle regularly?
Do you have access to private charging at home or work?
Do you need to travel long distances regularly?
PHEVs tend to suit city drivers whose regular trips are shorter and in stop-start metro traffic. The battery powered motor performs most efficiently in these conditions.
If that’s not you, it might be worth looking at other options that suit how you drive.
A good loan application is all about preparation. Here are a few simple things you can do in the lead up to your purchase that will make the finance process a whole lot simpler:
Maintain a stable income (and employment)
Reduce any unnecessary debts
Have genuine savings you can demonstrate to lenders
Look at vehicles that fall comfortably within your budget
Have your supporting documents ready upfront
If you’re applying low doc or are self-employed, get in touch with our crew. They’ll give you some extra tips that help will help with your finance structure.
Repayments are only one part of owning a plug-in hybrid. When you budget, make sure you account for:
Electricity and fuel costs
Insurance
Registration
Servicing and maintenance – you still have a petrol engine, so these still apply
Home charging equipment (if needed)
This might seem like a long list, but there is an upside. Because you’ll be using less fuel, you’ll offset a lot of these costs over time – especially if you charge regularly.
Yes! Our lenders are open to hybrid and electric loans for new and used vehicles. Just remember that, if you’re going used, there will be some additional criteria around age and condition.
Get in touch to learn about interest rates on electric vehicle loans.
When you apply with other brokers, they lodge multiple applications with individual lenders. Each one of those applications is a hit on your credit score.
At Loans Unlimited, a single application is seen by our entire panel of 40+ lenders. We’ll discuss the options with you and your lender and ensure a deal is agreed before any formal credit enquiry takes place. That means only 1 hit to your score.
Not necessarily. Many drivers charge their PHEV frequently to maximise fuel savings, but the petrol engine can operate when the battery is low.
Just remember, an uncharged PHEV is just a heavier and less efficient petrol car. If you’re able to charge it regularly, do it!
They are! This is actually the main advantage of PHEVs over fully electric cars and traditional hybrids.
The electric motor can tackle shorter trips efficiently while the petrol engine supports longer journeys without having to rely on public charging stations. That flexibility is what gets many drivers over the line.
This will depend on your lender and loan structure, but it is possible to include charging equipment or accessories in your electric vehicle loan.
For most drivers, yes. Reduced fuel usage lowers weekly running costs during shorter metro trips. If you live in the regions or make long commutes regularly, the savings won’t be as significant.
It’s also important to consider the entire cost of ownership. A plug-in hybrid car might save on fuel, but you also need to account for maintenance, rego, loan repayments and other costs.
You sure can! We encourage self-employed applicants, sole traders and ABN holders to make the switch to electric and offer low doc options if needed.
