Green auto loans are part of a loan program enacted by the federal government to encourage the purchase of environmentally friendly automobiles, such as electric and hybrid cars. If you qualify for a green loan, you may receive a reduced interest rate on the loan, up to 0.5% APR. Interest rates are also determined by taking the car's emission, fuel consumption, and pollution into consideration.

With the help of the loan, your acquisition of a green car will likely qualify you for an extra tax credit. In addition to saving money through the credit, you will also save a great deal of money through the car's efficient fuel consumption. Eco-friendly cars that qualify for green loans traditionally get great gas mileage; in fact, the better the mileage, the more you may save on your loan. Additionally, you are also helping the environment with a green vehicle because it produces far less waste and emissions. Overall, the loan will allow you to purchase a green car, thereby providing you with the following benefits: tax credits, lower interest rates, improved gas mileage, and lower gas emissions. For more information on green car loans, take some time to browse through our selection of helpful article and advice.