20 Reasons Not To Buy An Electric Car – By now, we all know that electric vehicles (EVs) are the way forward – literally. With fuel prices skyrocketing and inflation hot on our hands, we’re all looking for ways to lower the cost of owning a car, especially those of us who drive a lot. Also, the environmental requirements for initial investment in electric vehicles are inadequate.
However, until recently, owning an electric car was only possible in relatively high income Australia. But thanks to recent government legislation and a range of incentives, the average Australian car buyer no longer has to choose between an electric car or a petrol or diesel car.
20 Reasons Not To Buy An Electric Car
But before we close our eyes and dive into BEV ownership, we think everyone should know the following:
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Buying a new car is always an investment. Therefore, it remains a valid question to consider whether now is the right time to invest in electric vehicles. Especially considering that the starting price of an electric car is still higher than a gasoline or diesel model.
However, the long-term financial savings of EV ownership are beginning to overcome many buyers’ reluctance. So it makes the answer simple and easy. Is now a good time to buy an electric car? Yes, maybe.
Owners of electric vehicles can save significantly on fuel costs. Especially if they are subtly oiled. If you charge a pure electric vehicle that runs overnight at home during off-peak charging periods – the cost is much lower.
According to Australia’s Electric Vehicle Council (EVC), electric vehicles are around 70% cheaper on fuel than vehicles with internal combustion engines. This saves EV owners an average of $16,000 per year in fuel costs.
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One of the biggest savings for electric vehicle owners is lower operating costs. Electric vehicles do not have as many moving parts as vehicles with internal combustion engines, which greatly reduces maintenance and repair costs.
EVC estimates that electric vehicle owners save about $300-$400 per year compared to gasoline vehicles.
Emissions from electric vehicles used nationwide are on average 29-41 percent lower than fossil fuel vehicles. Australia will eventually need to own electric vehicles to meet the nation’s zero-emission target by 2050.
Currently, EV emissions vary from state to state due to variations in power sources. But if renewable energy improves in every state, the switch to electric vehicles could bring Australians a few steps closer to their zero-emissions goals.
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The effect is cleaner air and water, especially in populated areas. By switching to electric vehicles, you can greatly reduce the amount of particulate matter emitted from your nose, as well as the waste gases, oil and tires required to drive them. This will result in billions, if not trillions, in reductions in health care spending ahead of the 2050 target. You can read more about the environmental benefits of electric vehicles here.
There is a general consensus that electric cars are less fun to drive than their petrol or diesel predecessors. But in fact, it is not.
Electric vehicles are superior in terms of power, instant torque and acceleration. Thanks to the battery mounted on the chassis, they also have a low center of gravity and therefore better handling. Because EVs do not need to store gasoline like fossil fuel vehicles, they can reach peak torque from standstill.
The quieter sound of an EV makes for a more pleasant experience for most drivers, and certainly for pedestrians in construction zones. But if
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Losing the roar of a supercar, you can put a kit on your EV to make it sound like a v8, it’s the perfect compromise.
With these ambitious targets to achieve by 2050, it is in the best interest of the Australian government to make electric vehicle ownership as attractive as possible to car buyers.
So there are several state and local benefits to sweeten the deal. Below we will talk about state incentives in more detail. But at the federal level, the electric vehicle strategy, which will be completed between September 2022 and November 2022, aims to increase sales of electric vehicles. The former offers up to $2,000 off the purchase price of battery electric and plug-in hybrid vehicles.
Amendments to the Finance Act also include abolition of flat fringe benefits and renewal of leases. Therefore, purchasing an electric vehicle through a renewable lease can save owners $9,000 per year compared to an ICE vehicle.
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One of the main barriers to EV adoption in Australia is ‘range anxiety’, and this concern goes beyond distance. With so few models to choose from, EV options are naturally limited.
That limitation has been attributed to Australia’s lack of mandatory fuel efficiency targets, combined with a lack of national purchase incentives. But with recent federal legislation and increased state incentives, available models will increase.
As a result, the number of electric vehicles on Australian roads has almost doubled in the past year, with the Tesla Model 3 far ahead of its rivals. The market is expected to grow by 22.64% by 2027.
Nationally, the recent Electric Vehicle Rebates Act proposed to eliminate the Fringe Benefits Tax (FBT) on eligible vehicles (less than $84,916) provided by employers to current employees for private use. And, usefully, the exemption will also apply to used electric vehicles.
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In addition, from July 1, 2022, the 5 percent tax on electric, plug-in hybrid and hydrogen fuel cell cars and trucks (which qualify) will be eliminated for all vehicles permitted for domestic use. There are exceptions for electric vehicles imported from Russia and Belarus.
Discounts, rebates and subsidies are available for electric car buyers in Australia, but they vary. Each state has identified different ways to encourage electric vehicles to its residents. As such, the EV Council offers a state-by-state review of what’s good for potential EV buyers.
There are many types of electric vehicles and it is important to understand the differences between them in order to choose the one that best suits your needs.
BEVs are pure electric vehicles that run entirely on rechargeable batteries. They do not have a gasoline engine, which means they do not produce exhaust gases. BEVs are ideal for short and medium distance drivers as they typically range between 160 and 480 kilometers on a single charge. If you’re looking for the best electric vehicles on the market right now, check out our list of recommendations.
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PHEVs are hybrid electric vehicles that can use both gasoline and electricity. They have a rechargeable battery and an internal combustion engine. The PHEV can travel 48 km on electricity alone and then switch to petrol, extending the range. PHEVs are ideal for those who need more range than BEVs, but still want the benefits of electricity.
Want to know more about the best hybrid cars on the market? Check out the 21 best hybrid cars in Australia.
HEVs are also hybrid electric vehicles that have an electric motor and an internal combustion engine. However, the electric motor is only used to assist the gasoline engine and cannot be used to plug into the car to charge the battery. HEVs are more fuel efficient than conventional gasoline vehicles, but do not provide the same environmental benefits as BEVs and PHEVs.
As you can see, things are looking up for electric car buyers in Australia more than in any previous year. But everything has its drawbacks, and electric cars are no exception.
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Filana Kwan is the company’s marketing coordinator, she has extensive experience in excellent customer service and is well versed in all things automotive and financial related. When not working, Filana enjoys learning new things and keeping up with the latest trends in marketing and technology.
Is it worth buying an electric car? Lower fuel costs Lower maintenance costs Lower emissions and cleaner air Better vehicle performance Incentives for electric vehicle owners Is it worth buying an electric car in Australia? What are the national incentives for electric vehicles? What are the national incentives for buying electric cars? Types of Electric Vehicles Available Battery Hybrid Electric Vehicles (BEVs) Hybrid Electric Vehicles (PHEVs) Hybrid Electric Vehicles (HEVs) What Are the Disadvantages of Electric Vehicles?
Find your best auto loan in 60 seconds Use our free loan matching tool to review your options. Start now Poor infrastructure/charging is a major reason some Californians choose not to purchase electric vehicles.
By now we know many ways to get people to buy electric cars. In Europe and China, it’s simple: implement it. US policymakers aren’t nearly as brave, so we’ve relied on subsidies for early adopters and the fact that a test drive is often enough to convince someone to plug in.
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Few people know why someone might buy an electric car, but then decide to go back to using fossil fuels as an energy source.