Applications for finance are subject to the bank’s normal credit approval. Different terms, fees or other loan amounts might result in a different comparison rate.Ģ Eligible products must meet minimum system size requirements and/or specifications and be installed by an eligible retailer and/or installer (where applicable) to be eligible for the discounted interest rates.
![loan arranged through tesla loan arranged through tesla](https://i0.wp.com/beta.techcrunch.com/wp-content/uploads/2009/04/tesla.jpg)
WARNING: Comparison rate is true only for example given and may not include all fees and charges. *Comparison rate is calculated based on a secured loan of $30,000 over a term of five years. “Being a preferred finance provider for Tesla means we can provide faster and simpler ways for Australian businesses to access EVs, allowing our customers to improve efficiencies and deliver greater value to their own customers.”Ĭommonwealth Bank of Australia ABN 48 123 123 124, Australian credit licence 234945.ġ Federal Chamber of Automotive Industries facts National Report June 2023 That’s being helped by government concessions and an expanding choice of vehicles beyond luxury models,” he said. “EV usage is surging as the market matures and becomes more affordable. Looking beyond the next year, that is projected to more than double again.ĬBA’s General Manager Asset Finance, Chris Moldrich, says actual and intended EV adoption trends show an acceleration in business use that’s already far outstripped earlier expectations. New CBA data shows Australian businesses are set to continue playing an outsized role in EV adoption.Īccording to the research, 40 per cent of companies expect to use EVs or hybrids in the next 6-12 months, up from 14.7 per cent today 5. 3 Business customersĬBA is also providing a pathway for business customers to utilise CBA vehicle finance directly through the Tesla website, including the ability to access a discounted rate 4 specifically for Tesla customers. The appeal of EVs is supported by research which shows 64 per cent of customers would consider buying an electric or hybrid car if there was a financial incentive. Since October 2022, the bank has helped retail customers purchase more than $50 million of eligible sustainable products through its personal loans with lower, upfront interest rates. Through this latest announcement we can help more customers realise the benefits of electric vehicles by making finance more affordable.”
![loan arranged through tesla loan arranged through tesla](http://ww1.prweb.com/prfiles/2009/01/09/1129024/lodgewinter22v2.jpg)
2ĬBA’s General Manager Personal Lending, Joel Larsen, said: “Tesla has proven to be one of the preeminent and hallmark brands that has propelled the awareness and uptake of EV adoption in Australia.
![loan arranged through tesla loan arranged through tesla](https://www.solarreviews.com/content/images/blog/post/focus_images/4269_da381a9b-2cac-4b68-8abf-b4b8dccdc7be.jpg)
This lower interest rate is available to customers who choose to finance eligible sustainable purchases including electric and hybrid vehicles that meet certain criteria, and use their vehicle as security. Tesla customers can apply for a CBA secured personal loan with a fixed, low rate of 5.49%p.a.