How to buy an electric car

Buying a green car has many benefits for the environment and for your wallet. If you’re in the market for a new or used car that is environmentally friendly, here is your quick guide to buying a green car in Australia: 

What is an electric car? 

Buyers need to understand that there are 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. They have 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 as 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. 

How to identify if a vehicle is green? 

The Australian government, using its Australian Design Rules, identifies if a vehicle is green and publishes its findings in a green vehicle guide. It has a system rating that assesses the vehicle’s environmental impact. It measures the car’s emissions, external noise level, fuel and energy consumption, and the air pollution standard. It ranks cars by tailpipe C02 emissions. The highest-ranked cars have the lowest C02 emissions and the lowest carbon footprint. 

This information should be reported on the vehicle, usually on the windscreen. It should include the result for fuel consumption (combined, urban and extra-urban) and tailpipe C02 emissions, an estimate of fuel life cycle, C02 emissions, annual fuel costs, and also stationary noise. This can help consumers make a more informed decision about the impact of a green car on the environment and the cost of owning the vehicle. 

What are the benefits of driving an electric vehicle? 

Owning a green vehicle has a number of benefits. Here are some of them:  

• It helps clean up our environment: As mentioned, cars produce greenhouse gases that contribute to global warming. Green cars emit fewer harmful gases than conventional cars. This means that you can move around in a more sustainable way. 
• It is not solely dependent on petroleum: It’s expected that petrol and diesel prices it will increase in the coming years. With a green car, you are not fully dependent on petrol. If you drive a hybrid car, it also uses less fuel than regular vehicles, so you can save money. 
• It can save you money in the long run: An eco-friendly car can initially cost more than a regular vehicle. However, the return on investment can be seen instantly, they use less fuel or no fuel at all, and stamp duty is reduced. 

What do you need to know before buying an electric car? 

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:  

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 electric vehicles. 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.  

Ready to buy an electric car? 

Get your car finance ready with loans.com.au’s competitive rate car loans. Get in touch with us by calling 13 10 90. 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! 

Disclaimer: The information provided in this article is general in nature and does not constitute financial or legal advice. Please seek professional advice tailored to your personal circumstances before making any financial decisions.

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