Forbes Advocate

Make your next vehicle electric with a green car loan

Make your next vehicle electric with a green car loan

This is branded content for Driva.

If you've been wondering about the benefits of electric cars, you're not alone. In recent times, the number of new electric vehicles (EVs) in Australia has nearly tripled, a reflection of the growing interest in green cars and their advantages.

With the petrol price growth rate at a 31-year high, it's easy to see why so many drivers are pursuing the path to purchasing an EV.

Demonstrating the significance of this growing motoring trend, a recently-published Carbar Future Finance and Mobility report found that 33 per cent of survey respondents, the equivalent of 5.9 million Australians, said they were likely to consider an electric vehicle in the next two years.

According to the Australian Renewable Energy Agency (ARENA), the potential benefits of electric vehicles include: reduced fuel and lower maintenance costs, enhanced energy security, reduced air pollution, and an improved driving experience.

Those wanting to achieve a more environmentally-friendly lifestyle may also appreciate that greenhouse gas emissions can be eliminated if EVs are charged using renewable energy.

For those deciding to make the switch to an electric vehicle, the right financing option is paramount. Thankfully, whether you're on a budget or looking to splash some cash, Driva can help you find a green car loan at a competitive rate.

What is a green car loan?

According to Driva, green car loans are similar to regular car loans but with one very positive difference-some lenders offer an incentive for getting a green car in the form of a lower interest rate.

To add a cherry to the sustainably-baked cake, Driva are also able to offer a 0.7 per cent discount on green car loans with select lenders.

Who should consider a green car loan?

If you're environmentally conscious or already in the market for an electric or hybrid vehicle, then a green car loan is a great choice for you.

Nervous about the process? You can rest assured that all Driva's car loans are fixed rate. In other words, the amount you pay each month won't change over the course of the loan.

That means less nasty surprises and more time spent cruising past petrol stations without needing to pull over ever again. You may miss the snacks, but we guarantee you'll love the savings.

I want in. But, what is a green car?

Not all vehicles will qualify as green cars, so it's important to do your research. According to Driva, vehicles must emit significantly lower than average CO2 emissions when compared with other vehicles the same size to be considered "green".

Make your next vehicle electric with a green car loan

Need some guidelines? Driva says you'll be likely to qualify for a green car loan if you can tick off the following checklist:

  • The car is a new vehicle (or demonstration vehicle)
  • It's either an electric or a hybrid vehicle
  • The car is more fuel-efficient than average

Where can I find a green car?

To start your search, you can compare a range of environmentally friendly vehicles using the Green Vehicle Guide, an initiative by the Australian Government.

I've found my dream vehicle, how do I secure my green car loan?

You could spend hours comparing financing options online, but you'll probably end up paying in time what you currently pay in dollars at the petrol station-way too much.

Make your next vehicle electric with a green car loan

When you choose to engage a company like Driva, on the other hand, your perfect green car loan rate is only a few clicks away.

Basically, the Driva team will compare loan rates from over 30 lenders to find the options that suit you best while you focus on what's important; picturing yourself behind the wheel of the green car that will soon be yours.

To start your application process, the only documents you'll need on hand are your driver's license and two recent payslips. Driva will then walk you through the process and before you know it, you'll be driving towards a sustainably-fuelled future that's free of petrol bowsers.

Not sure you'll ever see the day? Driva will help to make sure that you do.

To get started, visit www.driva.com.au