Finance and purchasing experience

Renault EV Interest Group
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antiscab
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Real Name: Matthew Lacey
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Finance and purchasing experience

Post by antiscab » Thu, 26 Jul 2018, 08:48

Hi guys,

Had the zoe for about 3 weeks now, and only just sorted out finance. To get the car on time, I maxed out my credit cards, and mortgage redraw. 7 weeks in all to get finance sorted.

We bought the ex demo, so paid 46k for the car with 2.5k worth of on roads.

The cheapest I could get for someone who works casual, earns 44k gross a year, and 25k loan was 5.44% with comparison rate 5.9% ,due to the $400 up front application fee. This was at loans.com.au

Ironically, the Renault zoe doesn't qualify for the green car rate, though frustratingly the petrol Megane does qualify.....
The discounted loans a provided by the clean energy finance corporation. Do we have a contact there to get this looked at?

All the other loan providers, including those with green car loans had higher advertised interest rates. Macquarie quoted an appalling 13% rate with 15.5% comparison.

Rac gave best insurance, 500 a year for 25yr old female driver, 2k excess and 51k insured value.

The car doesn't come with an evse, but $240 for a 16A plug in one from aliexpress did the trick. Just had to swap for a Australian plug. I ended up putting in a 32A station at home too. Again off aliexpress, though I bought the board and type 2 cable separately and bodged up my own enclosure.

As the car was an ex demo it had already had it's 1000km service, which is basically all inspection items. By law the warranty can't be voided by having the servicing done elsewhere, though, I can't figure out what needs servicing after just 15000km. Another round of all inspection items? Seems suss to me. The service booklet given was a generic petrol car one 😂

What has other peoples experiences been like?
Matt
2011 Blade Electron mk6
2007 vectrix - 145'000km
1998 Prius - needs batt
1999 Prius - needs batt

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jonescg
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Real Name: Chris Jones
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Re: Finance and purchasing experience

Post by jonescg » Thu, 26 Jul 2018, 11:02

Macquarie green car loans are over 7% - even with the discount it's worse than shopping around. Got me beat why the Federal Government claimed they were supporting EVs through this deal when it's clearly worse than some non-descript lender like loans.com.au.

RAC are good for car insurance, and they do offer discounts on EVs via their "less emissions mission". Limited to WA only though.
AEVA National Secretary, WA branch vice-chair

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mikedufty
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Re: Finance and purchasing experience

Post by mikedufty » Thu, 26 Jul 2018, 13:27

Rate setter do peer to peer lending for 'green' loans at lower than their standard rates, but they pay around 6.5% to lenders, so I guess must charge borrowers a lot more.
Loans.com.au were cheapest when I was looking for house loans a few years ago too. Worked out fine for me. There is a loans.com.au discussion group on whirlpool with a few people pissed off because their variable rate seems to keep going up while the rate for new applications is low.

doggy
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Re: Finance and purchasing experience

Post by doggy » Thu, 26 Jul 2018, 13:44

You did really well with the insurance. We have lifetime max no claim bonus and paid $900 with GIO in NSW. Admittedly took extra cover for windscreen and for a reduced excess but cheapest would have been around 800. So, 500 is excellent.
Regds,
Dave

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mikedufty
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Re: Finance and purchasing experience

Post by mikedufty » Thu, 26 Jul 2018, 16:25

You could probably do a lot better too, just by moving to WA. I think complusory 3rd party injury is included in rego in WA, but part of the insurance in NSW.

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