(22 September 2023 – Australia) Commonwealth Bank has announced a deal with Tesla for electric vehicle (EV) loans at a discounted rate direct from the Tesla website.
The deal allows Tesla purchasers to apply for a CBA personal loan as they order an EV online. As with other EVs the bank will offer loans at a fixed rate of 5.49 percent, a discount of up to one percent on the price of a standard vehicle loan.
Commonwealth Bank General Manager Asset Finance, Chris Moldrich, said he expected many loan applications to come from businesses after a study for the bank from East & Partners showed 40 percent of companies expected to deploy electric and hybrid vehicles in their fleets within 12 months.
“All customers I'm talking to on the business side are interested in what's happening in electric vehicles, how they can think about the transition, how they can adapt their buildings to charge. Provided the flow of stock continues to come into the country, I think we'll continue to see substantial increases on the business side” Mr Moldrich said.