Buying your first vehicle or switching to electric is a big step – congratulations!
You might have found that opting for electric has left you with more questions than answers. How will I charge the car? How much will I actually save? Will the battery range be long enough?
But don’t worry, we’ve got good news: electric vehicle loans aren’t complicated at all.
At Loans Unlimited, our crew help you navigate the EV market and find an ideal loan structure. Whether you’re a salaried employee or a small business owner, we’ll secure you affordable repayments, fast approval and access to 40+ lenders.
Ready to get started? Click ‘Apply now’ and complete our online EV loan form in just 4 minutes.
A few years ago, electric vehicles were reserved for the early adopters. Today, they’re starting to dominate the market and are becoming a realistic option for all Australians.
That includes first time buyers, who are often attracted to EVs because of:
Lower fuel costs
Reduced servicing requirements
Modern technology and safety features
More predictable running expenses
Growing availability across different price points
There’s also been a shift in the way people budget for cars – from the purchase price to the ‘total cost of ownership’. When it comes to EVs, a slightly higher purchase price is offset by the savings above to provide greater value in the long term.
It’s the classic trip up for first time buyers: choosing a vehicle before understanding what they can actually afford. It’s easier said than done, but don’t get carried away with new technology or battery range before you know what you can actually borrow.
Our crew always recommend starting with pre-approval. We’ll review your financial situation and speak with our lenders and they’ll offer a provisional finance figure. With that, you’ll be able to:
Browse dealerships with a clear idea your budget
Estimate your weekly or monthly repayments
Compare vehicles more confidently
Move quickly when you find the right EV or stock becomes available
Even if you’re a first time buyer, your idea of car ownership is probably skewed to petrol vehicles. But when you switch to electric there are plenty of other things you need to consider.
Ask yourself:
Where will I charge the vehicle?
How far do I typically drive each week?
Will the vehicle suit my lifestyle in five years?
What are the ongoing ownership costs?
Most of our clients find that these questions only reinforce their decision to choose an EV. They can charge at home, make weekly metro commutes ideal for electric vehicles and know that the savings will stack up in good time.
Our crew work with a panel of 40+ lenders and can help first time buyers finance all kinds of electric vehicles:
Fully electric passenger vehicles
Electric SUVs and family vehicles
Used electric vehicles
Plug-in hybrid electric vehicles (PHEVs)
Entry level models
Dealership or Facebook Marketplace, we’ll find you a tailored finance solution.
An electric vehicle protects you from petrol prices that just keep on rising. Apply now, confirm a few details with our team and get pre-approved within 1 hour.
Not always. A deposit does strengthen your application and reduce repayments, but plenty of buyers secure finance without forking out upfront.
Lenders will assess your credit history, but it’s only one part of the equation. Income, employment, expenses and existing debts also play a role.
Absolutely! The used EV market is really starting to mature and you’re likely to find some steals. Lenders see that and they’re willing to provide the financing that makes it happen.
Everything comes down to preparation. Put in the hard yards here and you’ll get access to the best rates available.
Here are the easiest ways to improve your position:
Maintain a stable income
Reduce any unnecessary debts
Demonstrate genuine savings
Choose a realistic vehicle (budget wise)
Prepare all of your documents upfront (this one’s important – it cuts out a lot of waiting time and delays)
Don’t cut corners here. The stronger your application, the more competitive your EV finance options will be.
Purchasing your first vehicle is a significant milestone and we congratulate you for it!
Our crew are here to find the right loan structure that takes the stress and fuss out of the process. We’ll run you through all of the options clearly and get your EV finance application seen by 40+ lenders.
Click ‘Apply Now‘ to apply for an electric car loan and receive tailored assistance from our Perth crew.
When you apply with other brokers, they trigger a formal credit check each time they speak with a lender. That means countless hits to your credit score.
At Loans Unlimited, your single application is seen by each of our 40+ lenders and we won’t start any formal finance assessments until a deal is in place. Our crew put in the hard yards to be sure your credit score isn’t damaged.
