Finance question
Can I finance an EV or electric vehicle for my business?
Yes. An electric car, ute or van bought for business is financed the same way as any other vehicle, secured by the vehicle itself. Funding runs up to $500,000 across 40+ lenders, and clean deals are often approved in 24 to 48 hours.
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The short answer
An EV finances like any work vehicle
To a lender, an electric vehicle is still a vehicle. Whether it is a Tesla, a BYD, a Kia or an electric van or ute used for the business, the car secures the loan and the deal runs through standard motor and equipment finance. The drivetrain being electric does not change the structure, the vehicle is the security.
New EVs are strong security because they are typically bought new and hold a clear market value, which many lenders like. Prices sit across a wide band, from mid-thirties for a small electric hatch up to well over a hundred thousand for a premium SUV or electric light truck, and all of that fits inside equipment finance to $500,000.
There can be tax and running-cost reasons businesses move to electric, from fuel savings to fringe benefits treatment, but those are questions for your accountant. Our job is the finance: matching the vehicle and your profile to the lender offering the best structure, and getting it approved quickly.
Do you qualify?
What makes an EV deal fundable.
A business-use vehicle
An electric car, ute or van used for the business.
An active ABN
Sole traders and companies both qualify.
New or used
New EVs are strong security; quality used ones also fund.
A fast turnaround
Clean vehicle deals often approve inside 24 to 48 hours.
Why an EV is straightforward to finance
The vehicle secures it
An electric car holds clear value, so it is solid security for the loan.
Standard structure
It funds like any motor deal, no special product needed for electric.
Right lender, right rate
Appetite for EVs varies, so we place it where it prices best.
A real example
A consultant trades their old work car for a $62,000 electric SUV to cut fuel and running costs. Funded on a motor facility secured by the vehicle and approved inside two days on an ABN and a clean record, so the changeover was quick. Illustrative only.
Common questions
Frequently asked questions
Does the finance work differently because it is electric?
No. The vehicle secures the loan and it funds like any motor deal. Lender appetite can vary, which is why we shop it across the panel.
Can I finance a used EV, not just a new one?
Often yes. New EVs are strong security, but quality used electric vehicles can be funded too, subject to age and lender assessment.
Do I need a deposit for an EV?
Not always. Many vehicle deals fund without one, though a deposit can widen your options or sharpen the structure.
Are the tax benefits handled through the finance?
The finance secures the vehicle; any tax or fringe benefits treatment is a question for your accountant, not something we advise on.