Electric Vehicle and Bike Loans in New Zealand

If you're considering making the switch to an EV, you'll need to finance the purchase of a new vehicle. Fortunately, there are a number of lenders who offer specific EV loans with competitive interest rates.

What is an EV Loan?

An EV loan is a type of car loan that is specifically designed for the purchase of an electric vehicle. These loans typically come with lower interest rates than standard car loans, making it more affordable to finance your new EV.

EV Loan Options

There are a number of different EV loan options available in New Zealand. Some lenders offer fixed-rate loans, while others offer variable-rate loans. You can also choose a loan term that suits your needs, with terms ranging from one to seven years.

Things to Consider When Choosing an EV Loan

When choosing an EV loan, it's important to consider a number of factors, including the interest rate, loan term, and fees. You should also compare the features of different loans to find the one that best suits your needs.

Lender	Interest Rate (p.a.)	Terms	Eligible Products	Eligibility
Westpac	7.99%	6 months to 5 years	Electric or hybrid car, e-moped or e-bike	18+, NZ citizen/permanent resident, loan for EV purchase
Heartland Bank	8.45% to 9.45%	6 months to 5 years	Electric or plugin hybrid vehicle or bike	18+, Full/restricted license, loan for EV purchase

An EV loan can be a great way to finance the purchase of your new vehicle. With a number of lenders offering competitive interest rates, there's sure to be a loan option that's right for you. It is important to note that these are just a few of the lenders that offer EV loans in New Zealand. It is always a good idea to compare the interest rates and fees of different lenders before you apply for a loan.