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Bank Australia Ends Financing for New Petrol, Diesel, and Hybrid Vehicles

Shift Towards Exclusive Electric Vehicle Loan Offerings

Bank Australia Ends Financing for New Petrol, Diesel, and Hybrid Vehicles?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

In a bold move towards environmental sustainability, Bank Australia has ceased offering loans for new petrol, diesel, and hybrid vehicles as of February 2025.
This policy change is part of the bank's commitment to achieving net-zero carbon emissions by 2035.

The decision reflects Bank Australia's dedication to accelerating the transition from internal combustion engine vehicles to electric vehicles (EVs). A spokesperson for the bank emphasised the urgency of this shift and the role financial institutions can play in promoting cleaner transportation options.

It's important to note that this policy applies exclusively to new vehicles. Customers can still obtain financing for second-hand petrol, diesel, and hybrid cars, recognising the current limitations in the availability and affordability of used EVs.

While Bank Australia leads with this initiative, other major Australian banks have indicated no immediate plans to implement similar restrictions. This divergence highlights the varying approaches within the financial sector regarding support for sustainable practices.

For consumers, this development underscores the growing emphasis on environmental considerations in financial decisions. Prospective car buyers are encouraged to explore EV options and consider the long-term benefits of sustainable vehicle ownership.

Published:Wednesday, 8th Oct 2025
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

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