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Online lender pitches for mass market green car buyers

16 March 2018 5:59PM
Online lender loans.com.au has teamed up with the Clean Energy Finance Corporation to cut its car loan interest rate by 0.7 per cent for buyers of fuel efficient and electric vehicles. Managing director Marie Mortimer said the preferential rate was timed "to accelerate the adoption" of electric vehicles from Tesla, Nissan, BMW, Hyundai and other carmakers, which she said are "flooding into the Australian market this year". Taking the Tesla 3 and 2018 Nissan Leaf electric cars as examples, each with expected price tags of A$50,000, a "Green Car" buyer with a five year loan will pay $963 less in interest than the buyer of a "regular car".As well as electric and hybrid vehicles - which all qualify for the green loan discount - many low-emissions petrol vehicles are also on the loans.com.au list. The online lender said current cars which fit its low-emissions criteria included certain models of Mazda 3, Ford Fiesta, Honda Jazz and a range of models from major German carmakers.

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