Calculate your EV loan with Westpac

Loan amount
Loan term
6.70%
Per month
Pros
  • Flexible repayment options
  • Suitable for both new or used car
  • Approval is instant
Cons
  • Service fee charged
  • Higher than average application fee

What I love about Westpac

Westpac’s Electric Vehicle (EV) finance program stands out for several compelling reasons. Here’s what makes it an attractive choice for those seeking to invest in an electric vehicle:

  1. Competitive Interest Rates: Westpac offers competitive interest rates on EV loans, ensuring affordability and cost savings for borrowers.
  2. Diverse Loan Options: Westpac provides a variety of loan options, allowing customers to tailor their financing to their specific needs and budget.
  3. Eco-Friendly Initiatives: The bank has a strong commitment to sustainability, reflecting its support for the transition to electric vehicles and a greener future.
  4. Customer-Centric Approach: Westpac’s customer service is known for its expertise in EV financing, helping clients navigate the complexities of incentives, tax benefits, and other EV-specific aspects.

Other deal-sweeteners and perks

Westpac’s EV finance program offers additional incentives and benefits to sweeten the deal:

  1. Online Application Convenience: Applying for EV financing with Westpac is made easy through a user-friendly online application process.
  2. Exclusive Discounts and Offers: Westpac may partner with automakers and dealerships to offer exclusive discounts or incentives for their EV finance customers, helping you secure a better deal on your electric vehicle.
  3. Extended Warranties: Some EV financing packages from Westpac may include extended warranties or maintenance packages, providing peace of mind and reducing the long-term cost of ownership.
  4. Green Driving Rewards: Westpac’s dedication to sustainability extends to a mileage rewards program, offering incentives for eco-conscious driving.

What’s not so great

While Westpac’s EV finance program is feature-rich, there are some aspects that may not suit everyone:

  1. Credit Requirements: To access the most favorable interest rates, a good credit score may be necessary. Those with less-than-perfect credit may face higher costs.
  2. Availability: Westpac may not have branches or financing options in all locations, limiting accessibility for some customers.

Overall Rating

Westpac’s Electric Vehicle finance program is a strong choice for individuals looking to make the switch to electric transportation. Competitive rates, flexible options, and a strong environmental commitment make it a solid choice. The additional perks, while attractive, should be weighed against credit requirements and regional availability.