Australian
Internet Loans
Australian Credit Representative 401491
Australian Internet Loans :: News
SHARE

Share this news item!

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
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
Source: Paige Estritori

Share this news item:

Finance News

Westpac's Strategic Expansion in Business Lending
Westpac's Strategic Expansion in Business Lending
05 Oct 2025: Paige Estritori
Westpac Banking Corporation is embarking on a significant expansion of its business banking division, aiming to hire 350 new bankers over the next two years. This initiative is part of Westpac's strategy to reclaim its leadership position in Australia's business lending sector. - read more
CBA Achieves Record Profit Through Robust Lending Growth
CBA Achieves Record Profit Through Robust Lending Growth
05 Oct 2025: Paige Estritori
The Commonwealth Bank of Australia (CBA) has announced a record full-year cash profit of A$10.25 billion for the fiscal year ending June 30, 2025. This achievement surpasses analyst expectations and marks an increase from the previous year's profit of A$9.84 billion. - read more
NAB's Third-Quarter Earnings Reflect Steady Growth
NAB's Third-Quarter Earnings Reflect Steady Growth
05 Oct 2025: Paige Estritori
National Australia Bank (NAB) has reported a marginal increase in third-quarter cash earnings, reaching A$1.77 billion, up from A$1.75 billion in the same period last year. This growth is supported by improved net interest margins and increased lending volumes. - read more
Click for more Finance News


Finance Articles

The Pros and Cons of Refinancing Your Loan in Australia
The Pros and Cons of Refinancing Your Loan in Australia
Loan refinancing involves replacing an existing loan with a new one, usually to achieve better terms. It allows borrowers to access new loan agreements that could potentially offer lower interest rates, better repayment conditions, or additional financial benefits. - read more
Top Credit Repair Strategies: How to Overcome Bad Credit in Australia
Top Credit Repair Strategies: How to Overcome Bad Credit in Australia
Understanding the concept of creditworthiness is essential, especially when considering the various financial decisions you make in life. In Australia, a good credit score can open doors to competitive loan rates, favorable mortgage terms, and hassle-free approvals for financing. Conversely, bad credit can be a significant roadblock, impacting your financial well-being and limiting your access to financial resources when you need them most. - read more
Debt Management 101: Essential Tips for Millennials in Australia
Debt Management 101: Essential Tips for Millennials in Australia
Managing debt is a crucial aspect of financial health, especially for millennials in Australia. With student loans, credit cards, and personal loans, it's easy to feel overwhelmed by the debt landscape. However, understanding your options and making informed decisions can set you on the path to financial freedom. - read more
This website is owned and operated by Clark Family Pty Ltd (as Trustee for the Clark Family Trust) 43 Larch Street Tallebudgera QLD 4228, A.C.N. 010281008, authorised credit representative of Saccasan Pty Ltd, Australian Credit License 386297. Visit the ASIC website for additional licensing information.

IMPORTANT: We are neither authorised nor licensed to provide finance or financial products and we do not offer any form of credit or other financial advice. All product enquiries and requests for financial and/or other advice on this website are referred to third party intermediaries, insurers and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for vaidating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.