Buying an Electric Car: How to Find the Right One?
Making the switch to electric, but don’t know where to start? Don’t fret! Shopping for an electric car isn’t too different from shopping for a regular one. However, there are important things you need to keep in mind when buying an electric car. Here are a few things to consider when choosing an electric car:
Understanding the different electric car types
The first step in finding the right electric car is learning about the different kinds of EVs out there. Electric cars aren’t all the same. In Australia, there are three types of electric vehicles widely available:
- Battery electric vehicles (BEVs) - Also known as plug-in EVs or pure EVs. These cars run purely on electricity. You can charge them using a standard power outlet at home or a public charging station. Some BEVs have a regenerative braking system, as well.
- Hybrid electric vehicles (HEVs) - These cars run on both fuel and battery power. It has both an internal combustion engine (ICE) and an electric motor. HEVs use the ICE as their primary source of power, and the battery motor helps extend range. You don’t need to plug in HEVs to recharge as they use a regenerative braking system to power the battery.
- Plug-in hybrid electric vehicles (PHEVs) - PHEVs run using both fuel and battery power, similar to HEVs. But like the name suggests, PHEVs can be recharged by plugging them into an outlet at home or public charging stations. This type of EV can also go longer distances using the battery motor, unlike HEVs. PHEVs also have regenerative braking systems.
Each electric car type offers its advantages and disadvantages. Knowing the difference can help you make an informed decision and find one that suits your needs best.
Battery electric vehicles offer the environmental benefits with zero emissions and reduced noise pollution while providing a smooth driving experience with instant torque and acceleration. However, charging may be an issue as some more rural areas have limited public charging stations.
Hybrid vehicles, both hybrid electric and plug-in hybrids, may not be as environmentally friendly as a BEV, but they still offer reduced emissions, great fuel economy, and other environmental benefits.
Learn about your charging options
Before deciding on an electric car type, you need to check out your charging options first. Public charging stations aren’t readily available everywhere, unlike petrol stations. Even though there are over a thousand public charging stations in Australia, according to the Electric Vehicle Council, the distribution of these stations is not evenly spread out.
If you’re in an area without a lot of public charging stations available, it may be better to buy an HEV instead of one that requires plugging in to recharge. This way, you can still get the benefits of an electric car without needing to recharge or having to rely on at-home charging.
Consider range, performance, and lifestyle needs
Gone are the days when EVs had very limited selection and range. Now, there are heaps of electric car makes and models for you to choose from. There are also plenty of long-range electric cars available, capable of driving longer distances on a single charge.
In terms of performance and safety features, electric cars offer similar (if not the same) features you’ll find on standard cars.
When choosing an electric car, think about your commute and other lifestyle needs. For those living in the city, a small electric sedan may be the right fit. Meanwhile, those with families may find electric SUVs to be a better choice.
Set a budget and find a car loan
One of the most important things to consider when buying an electric car is affordability. Review your finances carefully to figure out a price range. Get insurance quotes as prices may vary for electiric vechicles. You can also apply for a pre-approved car loan to see how you can borrow from a lender. This could make budgeting easier and help you narrow down your options based on the possible loan amount.
Knowing your price range can also help you decide between a brand new or a second-hand EV. Used electric cars are usually a less expensive alternative and may provide more options depending on the make and model you’re looking for.
Electric cars are generally more expensive compared to standard cars. The good news is that there are EV car loans that offer discounted rates, like loans.com.au. Our green car loans offer lower rates when buying qualifying green cars or electric cars, so you can save more while saving the environment.
Apply for a green car loan today!
For more information about our green car loans, get in touch with us by calling 1300 712 070. Our friendly lending specialists will be more than happy to help you find the right car finance solution that fits your needs. You can also apply online today!
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About the article
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