Green Car Loans - frequently asked questions

FAQs

A Green Car Loan is a secured loan where a discount is offered to encourage or reward you to opt for a more environmentally friendly car, like a qualifying hybrid or electric car.

To be eligible for our Green Car Loan, you need to borrow $20,000 or more, and your vehicle must be used as security for the loan as well as, satisfy our security requirements and lending criteria. 

You can apply for a Green Car Loan the same way as any other personal loan. No extra verification or documents are required. Simply apply online, give us a call, or drop into your nearest branch. 

We’ll accept pure electric (EVs), plug-in hybrid electric (PHEVs), fuel cell electric vehicles (FCEVs), regenerative electric (non-plug in) (HEVs) or hydrogen vehicles to be eligible for our Green Car Loan. Vehicles can be up to seven years old.

No, you’re unable to refinance an existing People First Bank personal loan to our Green Car Loan.

If you have an existing loan for a green car with another financial institution, you can refinance this to a People First Bank Green Car Loan, if the lending and product eligibility criteria are met. 

Green cars are better for the environment, require less fuel and come with potential tax benefits. Not to mention, there are increasingly more options as they rise in popularity across Australia. Buying a green car could also qualify you for our Green Car Loan. 

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