Electric Vehicle Finance

Electric Vehicle Finance for Australian Businesses

Electric vehicles can provide businesses with another option when replacing or expanding their vehicle fleet.

At My Finance Consultants, we compare electric vehicle finance across a broad range of bank and non-bank lenders.

We help sole traders, companies and business owners finance new and used electric vehicles with structures designed around business cash flow and vehicle requirements.

What Electric Vehicles Can Be Financed?

Finance is available for a broad range of eligible electric vehicles used for business purposes.

This can include passenger cars, SUVs, commercial vans and selected electric commercial vehicles.

Both new and used EVs may be considered.

Dealer purchases generally provide the widest lender choice.

Private-sale vehicles can also be financed with selected lenders, subject to vehicle and ownership verification.

The vehicle's age, value, battery condition and intended business use can affect the available finance terms.

Electric Vehicle Finance Options

Chattel Mortgage

A chattel mortgage is commonly used where your business wants to purchase and own the electric vehicle.

The lender provides funds towards the purchase while registering security over the financed vehicle.

Repayments are made over an agreed term.

Balloon Payments

Selected lenders allow a balloon payment to remain at the end of the finance term.

This can reduce regular repayments and help preserve working capital.

A larger balloon also leaves a larger final amount to repay, refinance or clear when the vehicle is sold.

We compare different repayment structures before you proceed.

Leasing Options

Selected businesses may prefer to lease an electric vehicle rather than purchase it outright.

Leasing can suit businesses that regularly replace vehicles or prefer different end-of-term options.

Availability depends on the lender, vehicle and proposed arrangement.

Your accountant should confirm the tax treatment of the chosen finance structure.

New & Used Electric Vehicle Finance

Both new and eligible used electric vehicles can be financed.

Used EV lending may be influenced by the vehicle's age, kilometres, battery condition and expected resale value.

Older vehicles may attract shorter finance terms or different lender requirements.

Private-sale EVs can also be considered with selected lenders.

Additional checks may be required to confirm ownership, vehicle details and the purchase transaction.

Charging Equipment & Other Costs

Purchasing an electric vehicle can involve costs beyond the vehicle itself.

You may also need charging equipment or electrical work at your business premises.

Selected lenders may consider eligible charging equipment where it forms part of the broader vehicle purchase.

Other installation or infrastructure costs can require separate funding.

We review the complete purchase before determining which costs can be included in the finance.

What Lenders Consider

The lender will assess both your business and the electric vehicle being financed.

This can include your trading history, existing liabilities, credit profile and ability to meet the proposed repayments.

The vehicle's age, purchase price and resale market may also influence lender policy.

Established businesses may qualify for streamlined documentation with selected lenders.

Newer businesses can also have options where relevant industry experience, income and other lender requirements are satisfied.

Related Business Vehicle Finance

For broader commercial vehicle options, explore Business Vehicle Finance.

For passenger vehicles, visit Business Car Finance or Business Car Loans.

Businesses considering electric commercial vans can also explore Van Finance.

For our complete range of commercial asset-finance solutions, visit Business Equipment Financing.

Our Electric Vehicle Finance Process

Review Your Vehicle Purchase

We discuss the electric vehicle, supplier, purchase price and intended business use.

We also review your preferred finance term, contribution and repayment structure.

Compare Suitable Lenders

We compare suitable vehicle lenders based on your business and the EV being purchased.

We assess rates, fees, documentation requirements, balloon options and vehicle policy.

Application & Approval

We prepare your finance application and coordinate the supporting documents required by the selected lender.

We then manage lender questions and approval requirements.

Settlement

Once approved, we coordinate settlement with the dealer or approved seller.

This helps keep payment and vehicle handover progressing smoothly.

Frequently Asked Questions

Can I Finance a Used Electric Vehicle?

Yes. Many lenders finance used electric vehicles, although age, kilometres, battery condition and value can affect the available loan term.

Can I Finance an Electric Vehicle From a Private Seller?

Yes. Selected lenders finance private-sale EVs.

Additional ownership and vehicle verification may be required before settlement.

Do I Need a Deposit?

Not always.

Some established businesses may qualify for finance covering the full eligible purchase price, while other applications may require a contribution.

Can I Include a Balloon Payment?

Yes. Balloon payments are available with selected lenders.

A balloon can reduce regular repayments but leaves a larger balance payable at the end of the finance term.

Can a New Business Obtain Electric Vehicle Finance?

Yes, with selected lenders.

Your business history, industry experience, credit profile and available contribution can affect the options available.

Can Charging Equipment Be Included in the Finance?

Yes, in selected transactions.

Eligible charging equipment may be included where it forms part of the vehicle purchase and satisfies the lender's requirements.