{"id":88524,"date":"2024-12-20T04:18:27","date_gmt":"2024-12-19T18:48:27","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=88524"},"modified":"2024-12-20T04:18:27","modified_gmt":"2024-12-19T18:48:27","slug":"ev-access-program-mb3077","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/ev-access-program-mb3077\/","title":{"rendered":"Commbank Launches EV Access Program (EVAP)"},"content":{"rendered":"

\"Commonwealth<\/p>\n

Low(er) interest loans to purchase electric vehicles and charging equipment are now available to low(ish) income individuals and certain essential workers.<\/p>\n

In an initiative backed by $150 million from the Clean Energy Finance Corporation (CEFC), Commonwealth Bank has made the loans available to individuals earning less than $100,000 a year, along with teachers, instructors, medical professionals, veterinarians, government officials and care workers. For the “essential workers” group, there are no income caps.<\/p>\n

What’s On Offer From EVAP?<\/h2>\n

The EV Access Program (EVAP)<\/a> offers a special rate of 5.49% on a secured personal loan with an energy-efficient discount for any electric or hybrid vehicle emitting less than 120g of CO2 per kilometre, and with a vehicle price and loan amount (including home EV charging equipment) less than or equal to $55,000.<\/p>\n

More Choice As EV Prices Plummet<\/h2>\n

Just a couple of years ago, vehicle choices available for $55k or under in terms of new battery EVs were mighty slim or non-existent if there was no state subsidy involved – but things have changed.<\/p>\n

“With new cheaper models coming onto the market and a growing second-hand market, it\u2019s a good time to consider an EV,” said CommBank General Manager Personal Lending Joel Larsen<\/p><\/blockquote>\n

Some of the BEV models coming in under the $55k threshold for a new vehicle are (prices until December 31, and vary depending on state and options):<\/p>\n