Guide to buying an electric car

In recent years, the interest in owning an electric car in Australia has increased by leaps and bounds. With the number of Electric Vehicles (EVs) expected to grow significantly in years to come, many car owners are considering making the switch to electric.

What are some benefits of owning an electric car?

Environmental

One of the most cited benefits of using an electric car is its potential to lessen the carbon footprint of drivers. EVs allow drivers and passengers to get from A to B with fewer negative impacts on the environment, compared to petrol-powered vehicles.

Smoother performance

Electric motors deliver power more efficiently than internal combustion engines. You receive instant torque, providing smooth and rapid acceleration, making driving an EV more responsive, especially when driving in a city or merging on a highway.

Reduced noise pollution

Electric vehicles are much quieter than petrol-powered vehicles. The absence of a noisy internal combustion engine means EVs produce much less noise while driving. This contributes to a more silent and peaceful driving experience for you and your passengers, and helps reduce noise pollution in urban areas.

Costs of owning an electric car in Australia

Upfront costs

When it comes to upfront costs, electric vehicles can be pricier than their petrol counterparts. This is mainly due to the cost of the battery technology. However, it’s important to consider available government incentives, tax credits and rebates that may help offset these initial costs. Over time though, as technology advances and economies of scale come into play, the upfront cost gap is expected to decrease, making them more affordable for the everyday Aussie.

Running costs

Electric vehicles could offer lower running costs compared to traditional gasoline cars. The primary reason is electricity is generally cheaper than gasoline. Charging an EV at home is more cost-effective than refuelling at a petrol station, especially if you have solar power installed. EVs also have fewer moving parts, reducing the need for maintenance (when compared to conventional vehicles). This could translate to long-term savings and potentially become a cheaper choice for daily commuting.

Repair and maintenance costs

Electric vehicles have fewer complex components like transmissions and exhaust systems compared to internal combustion engines. However, EVs require specialised maintenance for their electric drivetrains and battery systems, which may offset some of the savings. But EV batteries last an estimated eight to nine years, and replacement costs are predicted to drop in the next (conveniently) eight years. Like all vehicles, conducting recommended servicing is the key to long-term use.

Insurance premiums

Insurance premiums for electric vehicles, like all vehicles, can vary based on factors like the vehicles make and model, your driving history and your location. Discover the car insurance policy that’s right for you – and your EV – today!

Explore Suncorp Car Insurance

Read more:

• The cost of car ownership in Australia
• Top best modern car safety features
• The future of the automotive industry

Insurance is issued by AAI Limited ABN 48 005 297 807 trading as Suncorp Insurance. Please read the relevant Product Disclosure Statement before considering this insurance. The Target Market Determination is also available. This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it. 

The information is intended to be of general nature only. Subject to any rights you may have under any law, we do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, incurred as a result of reliance upon the information. Please make your own enquiries.