Car loans for EV and hybrid vehicles | Green car loans - NAB

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Ditch the pump and get a discounted interest rate

Don’t want to worry about petrol prices? With a 0.75% interest rate discount on loans for all-electric and plug-in hybrid vehicles, you can save on petrol and get a better rate.

Find out how to get started

Why choose a NAB Car Loan for an electric vehicle?

Save on interest

Discounted fixed interest rates from 5.99% p.a. to 12.79% p.a. (comparison rate from 7.55% p.a. to 14.29%p.a.) for all-electric and plug-in hybrid vehicles.

Zero exit fees

Save money and pay off your loan early with no exit fees or penalties.

Shop with confidence

Power up and get a rate quote without impacting your credit score.

Offer

$0 loan establishment fee

We’ll waive the $350 establishment fee when you apply for a NAB Car Loan for the purpose of refinance. You’ll need to select the ‘refinancing’ option in your quote form.

Offer available for a limited time only and may end at any time. Other fees and charges apply.

All our car loans include

Fee

  • $0 exit fee
  • $7 weekly late payment fee
  • $15 monthly loan service fee
  • $350 loan establishment fee, waived when refinancing

Features

  • Get your rate quote without impacting your credit score

  • Borrow from $10,000 to $100,000 with up to 7-year terms repaid monthly .

  • Receive funds within one business day of agreeing the loan.

  • No penalties or exit fees if you pay off your loan early.

  • No lump sum payments at the end of your loan.

  • Additional repayments available with no additional fees.

Considerations

  • Your car will be used as security for repayment of the loan 
  • The interest rate will be fixed for the loan term
  • Repayments are required monthly by direct debit
  • No redraw is available from extra funds

 

Getting started The application process

Step 1

Get your rate quote

  • Getting a quote won’t impact your credit score.
  • Login to your NAB Internet Banking to start.
  • Tell us a few things about yourself and when you’re looking to purchase your vehicle.
  • Once you have your quote, you can customise your loan details to get an estimate of your monthly repayments.
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Step 2

Submit your application

  • Tell us about your income, expenses, debts and the car you’re looking to purchase.
  • We’ll review your application and let you know what additional information we need to finalise your loan, typically within one business day.

Step 3

Review and sign your contract

  • To finalise your loan offer, you’ll need to review and sign the loan contract.
  • Funds will then be transferred to the vendor within one business day of us agreeing to the loan.
  • You’re ready to pick up your vehicle and drive away!

Already got a loan with NAB?

Log in to NAB Internet Banking to manage your loan.

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Go electric with an award-winning provider

NAB has partnered with Plenti, an award-winning fintech lender, to provide faster secured car loans. Plenti’s smart, paperless borrowing experience means you can spend more time cruising the open road and less time on your loan application.

More information about car loans for electric vehicles

  • You’re eligible to apply online if:

    • You’re an existing NAB personal customer and registered for NAB Internet Banking.

    • You’re 21 years or older.

    • You’re purchasing an eligible new or used car up to 12 years old at the time of application (based on build date).

    • You’re an Australian citizen, New Zealand citizen or Australian Permanent Resident.

    • Your residential address is in Australia.

    • You’re receiving a regular income.

    • You’re a sole borrower.

  • No, getting a rate quote will not impact your credit score.

  • Securing a car to your loan means the vehicle serves as collateral for the loan. This may give you access to lower interest rates and higher borrowing limits than unsecured loans, making it more affordable. However, if you don’t meet your repayment obligations, the lender can repossess the car to recover the outstanding debt.

  • Once you have provided all required documents, we aim to provide you with an outcome within one business day.

  • While the NAB Car Loan is a NAB product, Plenti will manage your loan on behalf of NAB. This means we can provide you with a faster and paperless borrowing experience.

Common questions about electric vehicles

What’s the difference between an electric vehicle (EV), a hybrid and a plug-in hybrid (PHEV)?

  • An electric vehicle (EV) runs purely on electricity, so you’ll never visit a fuel pump again. Just plug in, charge up and enjoy zero emissions.
  • A hybrid vehicle (HEV) runs of a mix of petrol or diesel and electric power. Hybrids use a petrol or diesel engine with an electric boost for better fuel efficiency. No need to plug in – the battery charges as you drive.
  • A plug-in hybrid (PHEV) gives you the best of both worlds. PHEVs drive short trips on electric power, then switch to petrol for longer journeys. Charge at home or on the go for maximum flexibility.

Is buying and financing a hybrid more expensive than a conventional car?

Hybrids can cost a little more upfront than traditional petrol or diesel cars but NAB makes going green easier. If you’re financing an eligible EV or PHEV, you’ll get a discounted fixed interest rate on a NAB Car Loan, plus no exit fees. It’s our way of helping you choose a cleaner, smarter drive.

More about EVs and hybrids

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Help and support

We have guides and support to help you apply for a loan or manage an existing one.

Get in touch

Call an expert

Speak with one of Plenti’s loan specialists.

1300 768 700

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Closed on weekends and National Public Holidays

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