Plenti to Offer Discounted Auto Loans for Electric Vehicles


Peer-to-peer loan provider Plenti is launching low-cost auto finance specifically for electric vehicles.

The lender’s electric vehicle financing will have interest rates at least 50 basis points (0.50%) lower than its “very competitive” auto loans.

Plenti has also opened additional loans for those who buy equipment related to electric vehicles, including chargers, downloadable vehicle upgrades and other accessories.

Plenti’s existing auto loan rates start at 4.89% per annum (comparison rate 5.44% per annum *), subject to the borrower’s credit rating.

The removal of 50 basis points, implying that its electric vehicle finance rates could start from an advertised rate of 4.39% per annum, which is competitive with other green car loan providers .

Plenti CEO Daniel Foggo said this product offering comes as electric vehicle adoption begins to soar in Australia.

“The adoption of electric vehicles is essential for Australia to meet its carbon emission reduction targets,” Foggo said.

“Not only can they reduce transport emissions, their ability to integrate into the home and energy grid means they are ready to play an important role in helping households lower their electricity bills and supporting stability. network. “

Through the Plenti EV portal, customers can also access insurance specific to electric vehicles at a reduced price, which includes coverage against damage to the battery and charger; the portal also provides access to an EV purchasing service.

This new car loan offer will be available directly and through the Plenti brokerage channel.

“With electric vehicle sales doubling year-to-date since 2020 and expected to experience strong growth over the next decade, our entry into the electric vehicle market will help propel our growth in the short and long term. long term, ”said Mr. Foggo.

According to “VFACTS” data released last week, electric vehicle sales in October were up 243.5% from October 2020, which is attributed to state incentives to encourage adoption.

Plenti is a peer-to-peer loan provider where clients can not only borrow money, but also invest.


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Lender

Type of interest Vehicle type Maximum vehicle age Ongoing charges Registration fees Total refund Prepayment Instant approval Online application

Fixed New 1 year More details

Green car loan

Fixed New, used 99 years old More details
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Car loan

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Fast New Vehicle Loan Low Rate

  • Fast application process with no monthly fees
  • Low fixed interest rates with terms of up to seven years
  • New car loans cover cars for up to 3 years
Fixed New 1 year More details
No ongoing charges

Plenti Car Loan

  • Interest rates ranked in the top 20%
  • No ongoing charges
  • Can apply online

Plenti Car Loan

  • Interest rates ranked in the top 20%
  • No ongoing charges
  • Can apply online
Fixed New, used 7 years More details
No ongoing charges

Plenti car loan (refinancing)

Rates based on a $ 30,000 loan for a five-year term. Products sorted by advertised price. * The comparison rate is based on a loan of $ 30,000 over 5 years. Please note: this comparison rate is only true for this example and may not include all fees and charges. Different terms, fees, or other loan amounts may result in a different comparison rate. Prices correct as of December 12, 2021. See disclaimer.


Photo by dcbel on Unsplash

The entire market was not taken into account in the selection of the above products. On the contrary, a small part of the market has been envisaged. Products from some vendors may not be available in all states. To be considered, the product and the price must be clearly published on the website of the supplier of the product. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au and Performance Drive are part of the Savings Media group. In the interest of full disclosure, the Savings Media Group is associated with the Firstmac Group. To learn more about how Savings Media Group handles potential conflicts of interest, as well as how we are paid, please visit the website links at the bottom of this page.


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