Australia’s biggest financial comparison sites, Canstar and Canstar Blue today announced Pepper Money’s Electric Vehicle Loans as a winner of the brands’ first Green Excellence Awards.
According to Canstar’s judging panel, Pepper Money is enabling consumers to purchase green by reducing some key barriers to Electric Vehicle (EV) ownership. Pepper Money’s Electric Vehicle Loan offers a marketleading interest rate for borrowers who purchase an EV and provides a number of additional services to support them during their journey as an EV owner.
Submissions for the Green Excellence Awards 2022 were assessed against two overarching criteria. The first was Environmental Impact, which considered the extent to which the product creates a positive impact on the environment or society. The second was Consumer Empowerment being how effective the product is at driving consumer behaviour change or enabling consumers to choose more sustainable options.
Pepper Money impressed across the board, particularly in the consumer empowerment criterion, thanks to a number of initiatives including free public EV charging for up to 12,000 km over the course of a year. Pepper Money also partners with a car disposal service, to make it more straightforward for a borrower to sell their existing car. This service then extends to helping the borrower find and buy a new EV, including organising delivery of the vehicle.
Ken Spellacy, General Manager of Asset Finance at Pepper Money, said, “We are delighted to be recognised as one of the top performing finance products and services across Australia making a positive impact on the environment and consumers with our innovative EV loans.”
“Pepper Money was one of the first lenders to offer EV loans to Australians. Our aim is to drive and support the electrification of Australia’s auto fleet for a healthier and safer planet for everyone.”
“Since 2015, our EV loans have been helping environmentally conscious Australians contribute to a more sustainable future, by making EV an easy and accessible choice.
“We want to help more Aussies make sustainable choices every day. We want to help accelerate the switch to EVs by removing the barriers and contribute to lasting, systematic change – from finance to infrastructure and beyond,” he said.
Today, Pepper Money is the first and only finance company that is a member of the Electric Vehicle Council (EVC), the national body for the EV industry in Australia, working to accelerate the electrification of road transport in Australia.
“As a member, we hope to develop a better understanding of the barriers preventing uptake of EVs and so we can collaborate with other industry partners and develop viable solutions to overcome these,” he said.
“Through our engagement with the EVC we have identified several challenges on the path to switching to EVs. And in 2022, we’re developing products and services that help remove some of the barriers for a smoother, more enjoyable journey.
“Our EV loans are designed to help our customers drive every dollar further, with flexible conditions, no ongoing fees and market-leading rates,” he concluded.
Mitch Watson, Canstar’s General Manager, Research and Insights said, "Our Green Excellence Awards recognise the initiatives that are increasing the accessibility of sustainable products and services for Australians, and in their own way are setting a new green benchmark.
"Pepper Money's Electric Vehicle Loan is an exemplar of this through providing market leading lending rates and services that reduce the barrier to purchase and assist in making the transition to an electric vehicle easier," he said
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