Car Loans Australia :: News
SHARE

Share this news item!

Record Surge in Electric Vehicle Loan Applications in Australia

MONEYME Reports 90% Increase in EV Financing Amid Rising Fuel Prices

Record Surge in Electric Vehicle Loan Applications in Australia?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 remarkable development, fintech lender MONEYME has observed a substantial 90% month-on-month increase in electric vehicle (EV) loan applications from February to March 2026.
This surge underscores a significant shift in Australian consumer behaviour towards electric vehicles, driven by escalating fuel prices and growing environmental awareness.

According to MONEYME's data, applications for their Autopay loans for fully electric vehicles rose by 90% between February and March 2026. Year-on-year, EV loan applications have skyrocketed by 270%, while hybrid vehicle applications increased by 44% over the same period. In contrast, loan applications for petrol-only vehicles declined by 12% year-on-year.

Clayton Howes, CEO of MONEYME, attributes this trend to Australians' response to fuel price volatility and supply uncertainties. He notes that the rapid increase in EV financing reflects a structural shift in purchasing behaviour, with consumers prioritising long-term vehicle cost savings and environmental considerations.

This data aligns with broader market trends. The Australian Automotive Dealer Association (AADA) reported that battery electric vehicle sales reached 15,839 units in March 2026, accounting for 12% of total new vehicle sales for the year. This represents a 42% month-on-month and 92% year-on-year increase, highlighting the accelerating adoption of electric vehicles in Australia.

For prospective car buyers, these trends suggest a growing availability of financing options for electric vehicles. As the market continues to evolve, consumers are encouraged to explore various loan products and consider the long-term benefits of transitioning to electric vehicles, including potential savings on fuel and maintenance costs.

Published:Saturday, 18th Apr 2026
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.

Share this news item:

Finance News

Record Surge in Electric Vehicle Loan Applications in Australia
Record Surge in Electric Vehicle Loan Applications in Australia
18 Apr 2026: Paige Estritori
In a remarkable development, fintech lender MONEYME has observed a substantial 90% month-on-month increase in electric vehicle (EV) loan applications from February to March 2026. This surge underscores a significant shift in Australian consumer behaviour towards electric vehicles, driven by escalating fuel prices and growing environmental awareness. - read more
How Digital Finance is Transforming Car Purchases in Australia
How Digital Finance is Transforming Car Purchases in Australia
10 Apr 2026: Paige Estritori
The landscape of car purchasing in Australia is undergoing a significant transformation, driven by the rapid adoption of digital finance solutions. Traditional methods of securing car loans are being replaced by streamlined online processes, offering consumers faster approvals and enhanced convenience. - read more
Car Loan Interest Rates Forecast 2026: What to Expect
Car Loan Interest Rates Forecast 2026: What to Expect
10 Apr 2026: Paige Estritori
As we progress through 2026, prospective car buyers in Australia are keenly observing the trends in car loan interest rates to make informed financing decisions. Several factors are poised to influence these rates, and understanding them can aid consumers in navigating the lending landscape effectively. - read more
How Digital Finance is Transforming Car Purchases in Australia
How Digital Finance is Transforming Car Purchases in Australia
02 Apr 2026: Paige Estritori
The landscape of car purchasing in Australia is undergoing a significant transformation, driven by the rapid adoption of digital finance solutions. Traditional methods of securing car loans are being replaced by streamlined online processes, offering consumers faster approvals and enhanced convenience. - read more
ASIC Calls for Strengthened Consumer Protections in Car Finance
ASIC Calls for Strengthened Consumer Protections in Car Finance
02 Apr 2026: Paige Estritori
The Australian Securities and Investments Commission (ASIC) has conducted a comprehensive review of the nation's motor vehicle finance sector, uncovering significant issues that raise concerns about responsible lending practices. The findings indicate that some consumers are being subjected to exorbitant fees and are defaulting on their loans shortly after approval. - read more


Car Loans Articles

Understanding Car Loan Refinancing in Australia: When Is It the Right Move?
Understanding Car Loan Refinancing in Australia: When Is It the Right Move?
Car loan refinancing involves replacing an existing car loan with a new one, usually to lower the interest rate, reduce monthly payments, or modify the loan term. In Australia's fluctuating economic landscape, refinancing can be a strategic financial decision for borrowers looking to adjust their finances to more favorable terms. - read more
Top Tips for Australians Navigating the Online Car Market
Top Tips for Australians Navigating the Online Car Market
The Australian automotive landscape has witnessed a significant transformation with the rise of online car sales. The concept of browsing, selecting, and purchasing a vehicle through digital platforms has gained immense popularity, offering consumers a vast array of choices at their fingertips. - read more
The Essential Guide to Securing Affordable Car Finance in Australia
The Essential Guide to Securing Affordable Car Finance in Australia
Finding an affordable car finance option can make the dream of owning a vehicle a tangible reality for many Australians. It’s about understanding the intricacies of the loan market, interest rates, and finding a plan that aligns with your financial prospects and constraints. In a society built on the convenience of mobility, securing a car that meets both your needs and your budget is essential. - read more
Beginner's Guide to Secured vs Unsecured Car Loans in Australia
Beginner's Guide to Secured vs Unsecured Car Loans in Australia
Buying a car is a significant financial decision, and understanding the loan terms involved is crucial to navigating this process effectively. Loan terms can dramatically affect how much you end up paying over the life of your loan, and they play a pivotal role in ensuring that you are empowered during the car buying process. These terms determine your monthly payments, interest rates, and the total cost of the car in the long run. - read more
The Smart Aussie Buyer's Guide to Securing the Best Price on a New Car
The Smart Aussie Buyer's Guide to Securing the Best Price on a New Car
There's a unique thrill that comes with purchasing a new car; it's not just about getting from point A to B, but about fulfilling a dream and the freedom of the open road. However, with the excitement comes the need for careful planning and smart decision-making to ensure that your investment pays off in the long term. - read more


Need Help Finding a Loan?
Get a free car loan eligibility assessment and compare offers tailored specifically to your circumstances.

Let's help find your car loan!

Loan Amount:
Postcode:
All quotes are provided obligation-free by a participating broker from our national referral partner network. We respect your Privacy.
All finance quotes are provided free (via our secure server) and without obligation.
We respect your privacy.

Knowledgebase
Volatility:
A statistical measure of the dispersion of returns for a given security or market index. Higher volatility indicates higher risk.