Electric car finance, RyRo Asset Finance

EV Car Loan Sydney: Finance a New or Used Electric Car

Some lenders price electric cars below their standard car loans, and dealer finance is rarely the sharpest deal. Rohan Joshi at RyRo Asset Finance compares both for your EV and gets you approved before you sign.

New and used EVs, dealer or private sale
Green car loan products compared where lenders offer them
Based in Norwest, Sydney. Phone and email for the rest of Sydney

5.0 from 13 Google reviews for RyRo Asset Finance
Authorised Credit Rep 565295

RyRo Asset Finance Pty. Ltd., (ABN 69 682 063 896) an Authorised Credit Representative (ACR #565295) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.

Updated November 2026

EV finance explained

What is an EV car loan?

An EV car loan is a car loan you use to buy an electric vehicle. In most cases it is a secured car loan: the car is the security, you repay it over a set term, and the lender assesses your income, expenses and credit file the same way it would for any car.

The difference is in the products on offer. Some lenders run a green or EV car loan with discounted pricing for eligible low emissions cars. Others treat an EV like any other car. A manufacturer may also offer finance through the dealer. Which one is cheapest depends on the car, the lender’s rules and your profile, which is why electric car finance is worth comparing before you sign anything.

Quick answer

Is a green car loan always the cheapest EV finance?

No. A discounted green car loan can be a good deal, but fees, the comparison rate and your own credit profile decide the real cost. Rohan compares green products, standard car loans and your dealer’s quote side by side.

Battery electric carsFinanced like any other car, with the car as security.
Plug-in hybridsIncluded by some green car loan products, not all.
New or usedDealer and private sale, within each lender’s age limits.

Electric car loan vs standard car loan

How electric car finance differs from a standard car loan

Less than you might think. As a car finance broker in Sydney, Rohan sees four real differences when the car has a plug instead of a fuel cap.

Green loan products
Some lenders discount eligible EVs against their standard car loan. Eligibility rules differ, so we check your model against each one.
Same check on you
Income, expenses and credit file are assessed the same way as for any car loan. The car changes the product, not the assessment.
Often a bigger loan
Many EVs cost more upfront than a similar petrol car, so the loan and the repayment can be larger. Check them first with our repayment calculator.
Charger and extras
Whether a home charger can go into the loan is lender specific. We confirm it with the lender before you order one.

Work out the repayment on the full drive-away price with the car loan repayment calculator.

Check green loans for my EV

Free, no obligation. Bring the model and price.

Check the repayment on your EV

Type the drive-away price, deposit, term, rate and any balloon. The example rate is not a quote: use the one you were offered.

Open the full car loan calculator

Monthly repayment with a $8,000 balloon

$702

60 repayments over 5 years at 8% a year

Loan amount: $40,000
Total interest: $10,131
Repayment with no balloon: $811 a month

With and without the balloon

Car loan with and without a balloon
Measure	With balloon	No balloon
Repayment a month	$702	$811
Total interest	$10,131	$8,663
Balloon owed at the end	$8,000	$0
Total cost (repayments plus balloon)	$50,131	$48,663

The balloon cuts your repayment by $109 a month, but adds $1,467 in interest over the loan, and you still owe $8,000 at the end.

Estimate only, not a quote or an offer of credit. It assumes the rate stays the same, repayments at the end of each period and no fees or add-ons. Your lender's rate, fees and maximum balloon depend on your situation, the car and a credit assessment.

Figures last checked November 2026.

This is an estimate, not financial advice. Results are a guide only. Speak to a broker for accurate figures based on your situation.

Free, no obligation. Your numbers go with your enquiry.

5.013 RyRo Asset Finance reviews

RyRo Asset Finance Pty. Ltd., (ABN 69 682 063 896) an Authorised Credit Representative (ACR #565295) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.

Case study

A new BMW iX3: dealer finance vs a second opinion

This client was about to sign the dealer’s finance on a new electric car. Client details are kept private; the numbers and the review are real.

Compare my EV dealer quote

Free, no obligation.

Car loan
New car
Electric vehicle

Dealer offered 7.5% on a new BMW iX3. We found 6.64%

Dealer finance offer: 7.5%
Rate we secured: 6.64%
Same loan term: 5 years

1. The situation
A client buying a brand new BMW iX3 was about to sign up for the dealer's finance at 7.5%.
2. What we did
Compared lenders on the same 5-year term.
+2 more in the full story
3. The result
6.64% instead of 7.5%.
+2 more in the full story

“Rohan provided exceptional service, was communicative and transparent through the entire process. I ended up with a far better deal than I would have got on my own.”

Google review from the client

Read the full story

The situation

A client buying a brand new BMW iX3 was about to sign up for the dealer's finance at 7.5%. Dealer finance is convenient, but it is rarely the best deal on the table.

What we did

Compared lenders on the same 5-year term.
Found a sharper rate with a lower repayment.
Handled the application from start to finish.

The result

6.64% instead of 7.5%.
A lower monthly repayment over the same term.
The keys to a new iX3, with no extra running around.

Compare my car finance

Arranged by Rohan, RyRo Asset Finance

RyRo Asset Finance Pty. Ltd., (ABN 69 682 063 896) an Authorised Credit Representative (ACR #565295) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.

Rates shown are the rates this client was approved for. Your rate depends on your circumstances.

RyRo Asset Finance Pty. Ltd., (ABN 69 682 063 896) an Authorised Credit Representative (ACR #565295) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.

New vs used EVs

New or used: financing an electric car in Sydney

Both can be financed. What changes is how the lender treats the car as security, and which products you can use.

New EV

Green car loan products most likely to apply
Dealer and manufacturer offers to compare
Longest terms usually available
Loan amount set by the drive-away price

Used EV

Dealer or private sale
Lender age limits can shorten the term
Some green products apply to newer cars only
Ask for service history and battery reports

Buying a used EV from a private seller

There is no finance manager in a private sale, so get approved first. Rohan checks the car fits the lender’s age and condition rules, confirms there is no finance still owing on it, and arranges the payout to the seller once the lender is satisfied.

Before you commit, ask the seller for the logbook, service history and any battery health report they have. A car you are unhappy with is still a car you owe money on.

Rohan · 0:31

Extended warranty options when you financeRohan Joshi, RyRo Asset Finance · extended warranty options when you finance

Electric car connected to a public fast charger at night — Lenders look at the car as security; the battery is the buyer’s check. Photo: YRKA PICTURED / Unsplash

Battery and resale

Battery health and resale: what it means for your loan

We do not make claims about battery life: that is between you, the manufacturer and the warranty. What we do look at is how the loan behaves if you sell or trade the car early. A balloon lowers your repayments but leaves a lump sum at the end, and it only works if the car is likely to be worth more than that amount.

Lenders assess an EV’s age, price and value as security, as they do for any car
Fewer years of resale history for many EV models, so keep any balloon conservative
Match the loan term to how long you plan to keep the car
On a used EV, check the battery before you sign, not after

Talk through my EV loan

EV novated leases

EV novated leases and the FBT electric car exemption

Many people searching for EV finance are really weighing a novated lease. A novated lease runs through your employer and a salary packaging provider. Under the ATO electric cars exemption, no fringe benefits tax is payable on the private use of an eligible electric car, including through salary packaging. The benefit is still reportable on your income statement.

The car must be first both held and used on or after this date.: 1 July 2022; Source: ATO, Electric cars exemption (updated 1 April 2026, checked 4 Nov 2026)
Luxury car tax must never have been payable on the car’s import or sale, including for a used EV.: No LCT; Source: ATO, Electric cars exemption (updated 1 April 2026, checked 4 Nov 2026)
From this date a plug-in hybrid is not a zero or low emissions vehicle under FBT law (some earlier arrangements continue).: 1 April 2025; Source: ATO, Electric cars exemption (updated 1 April 2026, checked 4 Nov 2026)

Car loan or novated lease?

A novated lease suits some employees and not others, and it ends when your job does. If you are weighing one up, Rohan can price the car loan side so you compare real numbers. Read our car loan vs novated lease guide too.

Check the tax with your accountant

The ATO also says a home charging station is not an exempt car expense under this rule. The government plans to review the exemption by mid-2027. We recommend consulting your accountant for advice specific to your situation.

Price the car loan side

Free, no obligation.

Wall-mounted home EV charger on a timber-clad house, with an electric car parked beside it — A wall charger needs a quote from a licensed electrician before a lender will look at it. Photo: go-e / Unsplash

Home charging

Can you add a home EV charger to your car loan?

It depends on the lender, so treat it as a question to ask, not a given. The cost of a charger and its installation varies with your switchboard, the distance from the board to the garage and the charger you choose, which is why a written quote matters.

Some green car loan products allow the charger and installation; many standard car loans finance the car only
Get a written quote from a licensed electrician first
Rohan confirms with the lender before you order, so nothing is assumed

Ask about adding a charger

Car with keys and coins, representing car finance — Business car finance is set up in the name of the business or sole trader.

Business use

Electric vehicle finance for ABN holders

If the EV is mainly for business, a business loan is often a better fit than a consumer car loan. See ABN car finance for the documents lenders ask for, or ute finance if the work vehicle is an electric ute.

Chattel mortgageThe business owns the car from day one, with the car as security.
Low doc optionsBAS or business bank statements for some lenders.
Tax pointsGST and deductions depend on your use. We recommend consulting your accountant.

Talk through business EV finance

Free, no obligation.

Rohan · 0:20

New business? Car finance under your ABNRohan Joshi, RyRo Asset Finance · lenders that support new businesses

Rohan Joshi

Asset finance broker, RyRo Asset Finance, ACR 565295

Who you will deal with

Rohan handles your EV finance from start to finish

You deal with one person. Rohan reads your details, compares lenders including their green car loan products, prepares the application and keeps you updated until the money is paid to the dealer or seller.

He works from the RyRo office in Norwest, so if you live in the Hills District you can sit down with him in person, or do it all by phone and email from anywhere in Sydney.

“I would definitely recommend RyRo Asset Finance as Rohan is amazing and I got a great rate. Fast and efficient service. Thank you.”

Jonathan Low · Google review of RyRo Asset Finance

Ask Rohan about my EV

Free, no obligation.

RyRo Asset Finance Pty. Ltd., (ABN 69 682 063 896) an Authorised Credit Representative (ACR #565295) of Fintelligence Pty Ltd (ABN 80 625 017 174), Australian Credit Licence # 511803.

Google reviews

What RyRo Asset Finance clients say

Real Google reviews of RyRo Asset Finance, word for word. Rated 5.0 from 13 reviews.

5.0

From 13 Google reviews for RyRo Asset Finance

Rohan · 0:23

Under 25? Finance for your first car or truckRohan Joshi, RyRo Asset Finance

Read them on Google

N M
a month ago on Google
I had an excellent experience with Rohan for my car loan. He was professional, responsive and extremely helpful throughout the entire process. He explained all the options clearly, found a competitive loan that suited my circumstances and made the paperwork simple and stress-free. I highly recommend RYRO services to anyone looking for a reliable and trustworthy car loan broker.
N M
a month ago on Google
I had an excellent experience with Rohan for my car loan. He was professional, responsive and extremely helpful throughout the entire process. He explained all the options clearly, found a competitive loan that suited my circumstances and made the paperwork simple and stress-free. I highly recommend RYRO services to anyone looking for a reliable and trustworthy car loan broker.
David John
8 months ago on Google
We had a great expreience dealing with Rohan for vehicle finance. I would highly recommend him. He was very professional and easy to deal with.
Sumit Garg
a year ago on Google
Rohan been nothing short of excellent for us. Being proactive, professional and keeping things very simple and easy to deal with. Gave us an excellent deal and whole process was easy as. Thank you for being so helpful is getting us over the line in getting the new car
Sumit Garg
a year ago on Google
Rohan been nothing short of excellent for us. Being proactive, professional and keeping things very simple and easy to deal with. Gave us an excellent deal and whole process was easy as. Thank you for being so helpful is getting us over the line in getting the new car
Gurmit Singh Bhooi
a year ago on Google
We had a great experience working with Rohan Joshi. He was professional, responsive, and made the entire process of securing our car loan smooth and stress-free. He took the time to understand our needs, explained everything clearly, and got us a competitive rate without any hassle. We really appreciated how straightforward and efficient he was from start to finish. Highly recommended if you’re looking for someone reliable to help with a car loan.
Gurmit Singh Bhooi
a year ago on Google
We had a great experience working with Rohan Joshi. He was professional, responsive, and made the entire process of securing our car loan smooth and stress-free. He took the time to understand our needs, explained everything clearly, and got us a competitive rate without any hassle. We really appreciated how straightforward and efficient he was from start to finish. Highly recommended if you’re looking for someone reliable to help with a car loan.

How it works

How to get an EV car loan with Rohan in 4 steps

Step 1
Tell us about the car
Model, new or used, price, dealer or private sale, and whether a charger is part of the plan.
Step 2
We compare lenders
Green car loan products, standard car loans and your dealer’s quote, on the comparison rate and total cost.
Step 3
We prepare the application
We collect your ID, payslips and bank statements, submit to the chosen lender and handle the follow-up.
Step 4
Approval and settlement
Funds go to the dealer or private seller. For private sales we manage the payout.

Start step 1

Step 1 takes about two minutes.

Run the numbers first

FAQs

EV car loan FAQs

Have a question not covered here? Ask Rohan directly.

Battery electric and plug-in hybrid cars
Charger finance checked lender by lender
Personal and business use

Rohan Joshi of RyRo Asset Finance at the Norwest office — Rohan answers EV finance questions from the Norwest office.

What is an EV car loan?

An EV car loan is a car loan used to buy an electric vehicle. Most work like any secured car loan: the car is the security, you repay over a set term, and the lender checks your income, expenses and credit file. Some lenders also offer a green or EV car loan product with discounted pricing for eligible low emissions cars. Rohan compares those against standard car loans and dealer finance, so you see which one actually costs less over the term.

Do lenders offer cheaper rates for electric cars?

Some lenders do. A few banks, credit unions and specialist lenders have green car loan products that price eligible electric cars below their standard car loan. Not every lender has one, the eligibility rules differ, and a discounted product is not always the cheapest loan once fees and your own profile are counted. Compare the comparison rate and the total cost, not the headline rate. That is the comparison Rohan runs for you.

Can I get a car loan for a used EV?

Yes. Used electric cars are financed the same way as other used cars: the lender looks at the car’s age, price and value as security, plus your income and credit. Each lender sets its own limit on how old a car can be at the end of the loan, which can shorten the term on an older EV. Get approved before you buy, and ask the seller for the service history and any battery health report they have.

Are plug-in hybrids covered by green car loans?

It depends on the lender. Some green car loan products cover battery electric cars only; others also include hybrids or plug-in hybrids, sometimes with an emissions test. For tax, the ATO says that from 1 April 2025 a plug-in hybrid is not a zero or low emissions vehicle under FBT law, so new arrangements for one are not eligible for the electric cars exemption (some earlier arrangements can continue). Tell Rohan the exact model and he checks it against each lender.

Can I include a home charger in my EV car loan?

Sometimes. Whether the charger and installation can go into the loan is lender specific: some green car loan products allow it, many standard car loans finance the vehicle only. If yours does not, you pay for the charger yourself or use other savings. Get a written quote from a licensed electrician first, then Rohan checks with the lender before you order it, so you know what is covered before you sign.

Is an EV novated lease exempt from FBT?

It can be. The ATO says no FBT is payable on an employer-provided electric car if it is a zero or low emissions vehicle, was first held and used on or after 1 July 2022, and luxury car tax has never been payable on it. Salary packaging arrangements are included, but the benefit is still reportable on your income statement. We recommend consulting your accountant for advice specific to your situation.

Can I finance an electric car through my business?

Yes. If the car is mainly for business use, a business car loan such as a chattel mortgage may suit better than a consumer loan. Lenders look at your ABN, how long it has been registered and your recent trading. GST credits and deductions depend on how you use the car, so we recommend consulting your accountant for advice specific to your situation. See our ABN car finance page for the documents lenders ask for.

Does the battery affect my EV car loan?

Not usually on its own. Lenders mostly assess an electric car the way they assess any car: its age, price and value as security. The battery matters to you as the buyer. On a used EV, ask for the service history and any battery health report before you commit, and be cautious with a large balloon, because a balloon is only comfortable when the car is likely to be worth more than the amount left owing.

Is dealer finance on an EV a good deal?

Sometimes, but check it first. Dealer finance is convenient, and manufacturer offers can be sharp, yet the rate on the paperwork is not always the best you can get. One RyRo Asset Finance client buying a new BMW iX3 was offered 7.5% by the dealer and was approved at 6.64% over the same five-year term after Rohan compared lenders. Your rate depends on your circumstances, so bring your dealer quote and compare.

Hero photo: go-e / Unsplash. FBT points from the ATO electric cars exemption page, checked 4 November 2026. Rates in the case study are the rates that client was approved for; your rate depends on your circumstances.

Talk to Rohan

Ready to compare EV car loans?

Green car loans, standard car loans and your dealer’s quote, side by side. RyRo Asset Finance in Norwest, for buyers across Sydney.

We generally respond within an hour. Prefer to pick a time? Book your strategy call online or contact us.

Rohan Joshi

Asset finance broker, RyRo Asset Finance

Rohan reads your details and calls you back
No obligation to go ahead
Compare against your dealer's offer before you sign

Rohan · 0:31

Extended warranty options when you financeRohan Joshi, RyRo Asset Finance

EV Car Loan Sydney: Finance a New or Used Electric Car

What is an EV car loan?

Is a green car loan always the cheapest EV finance?

How electric car finance differs from a standard car loan

Green loan products

Same check on you

Often a bigger loan

Charger and extras

Check the repayment on your EV

A new BMW iX3: dealer finance vs a second opinion

Dealer offered 7.5% on a new BMW iX3. We found 6.64%

1. The situation

2. What we did

3. The result

New or used: financing an electric car in Sydney

New EV

Used EV

Buying a used EV from a private seller

Battery health and resale: what it means for your loan

EV novated leases and the FBT electric car exemption

Car loan or novated lease?

Check the tax with your accountant

Can you add a home EV charger to your car loan?

Electric vehicle finance for ABN holders

Rohan handles your EV finance from start to finish

What RyRo Asset Finance clients say

How to get an EV car loan with Rohan in 4 steps

Tell us about the car

We compare lenders

We prepare the application

Approval and settlement

Run the numbers first

EV car loan FAQs

What is an EV car loan?

Do lenders offer cheaper rates for electric cars?

Can I get a car loan for a used EV?

Are plug-in hybrids covered by green car loans?

Can I include a home charger in my EV car loan?

Is an EV novated lease exempt from FBT?

Can I finance an electric car through my business?

Does the battery affect my EV car loan?

Is dealer finance on an EV a good deal?

Ready to compare EV car loans?