Bank Australia to Reject Loans for Petrol and Hybrid Cars

Bank Australia to Reject Loans for Petrol and Hybrid Cars

A progressive-focused Australian bank has announced it will automatically decline loan applications for customers trying to buy petrol-powered vehicles. Bank Australia, formally Bankmecu, says it will now only fund loans for fully electric vehicles. “Loans for new combustion engine vehicles, including low admission and hybrid vehicles, will no longer be eligible,” the financial institution said in a statement. The lender considers any vehicle wi…

Bank Australia has ceased car loans for new fossil fuel cars from 2025 – Bank brags ‘Real climate action needs to be bold’

We’re stepping up to help protect the climate and future generations by actively supporting the shift towards a decarbonised economy. Here are five reasons we stopped providing car loans for new fo…