thomasw
Member
I've done a bit of research at least for business loans and can say for sure the ANZ green one at 3.3% is by far the cheapest. However their break fees are unclear to me still - they are saying $200 plus a amount they calculate. If their cost of borrowing doesn't change then nothing more, but otherwise there may be more, I think..... But the clarity of it doesn't give me confidence at all. And they don't do personal car loans I think.
Next best I think for both personal and business is firstmac / Clean Green Car Loan - Loans.com.au
They also have a similar deal with CEFC and on a green car are 4.29% which is about as cheap as anyone apart from ANZ, but they charge a maximum of $700 break fee from the start, then prorata that down to $0 at 12 months before the end of the loan. (I was told this in reference to a business loan but I suspect the same on personal). i.e. if on a 5 year loan it will be $700 after 1 month, down to $0 break fees if 4 years in. So unusually cheap and clear for break fees. Many others make their break fees huge or unclear. I think from memory Macquarie was 70% of the remaining interest, i.e. starts from as much as $10,000 and goes down over the term.
Next best I think for both personal and business is firstmac / Clean Green Car Loan - Loans.com.au
They also have a similar deal with CEFC and on a green car are 4.29% which is about as cheap as anyone apart from ANZ, but they charge a maximum of $700 break fee from the start, then prorata that down to $0 at 12 months before the end of the loan. (I was told this in reference to a business loan but I suspect the same on personal). i.e. if on a 5 year loan it will be $700 after 1 month, down to $0 break fees if 4 years in. So unusually cheap and clear for break fees. Many others make their break fees huge or unclear. I think from memory Macquarie was 70% of the remaining interest, i.e. starts from as much as $10,000 and goes down over the term.