Finty
Heritage

Heritage Green Car Loan

SecuredFixed rate

Purchase or refinance of a new or used pure electric (EVs), plug-in hybrid electric (PHEVs), fuel cell electric vehicles (FCEVs), regenerative electric (non-plug in) (HEVs) or hydrogen vehicle up to 7 years old through a Dealer or Private Sale.

Written byDavid Boyd

5.99%

interest rate a year, from

6.34%

comparison rate, from

Establishment fee
$250
Monthly fee
None
Borrow
$20,000 to $100,000

What it would cost

At the lowest published rate of 5.99%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$608
Total repayments
$21,901
Interest and monthly fees
$1,901

Loan details

Rates

Interest rate (a year)
5.99%
Comparison rate (a year)
6.34%
Rate type
Fixed
Security
Secured

Limits and fees

Loan amount
$20,000 to $100,000
Loan term
1 year to 7 years
Establishment fee
$250
Monthly fee
None

How it compares

Against the other secured car loans we compare. Typical means the middle half of them.

Comparison rate

6.34%

From 6.34%. A typical loan starts at 7.99%.

Cost of $20,000 over 5 years

$3,444

Interest and fees at its starting rate. Typical is $4,663.

Setup fee

$250

A typical setup fee is $258.

Monthly fee

None

A typical monthly fee is $8.

Most you can borrow

$100,000

Typically you can borrow up to $130,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • A lower starting rate. Its comparison rate starts at 6.34%, below the typical 7.99%, and the comparison rate counts the standard fees too, so it's a fair guide to a lower overall cost.
  • One rate for everyone. Everyone approved gets 5.99%, so the rate you see is the rate you get.
  • No monthly fee. The cost doesn't creep up the longer you take to repay.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
  • A $100 late payment fee. Setting up automatic repayments avoids it.

Similar loans

Secured loans from other lenders that start at a similar comparison rate.