Is an EV right for you? 

Electric vehicles (EVs) are becoming more common on Tasmanian roads, and for good reason. Lower running costs, fewer emissions and a quieter driving experience are appealing to many people. And some of them look pretty smart too. But deciding whether an EV is right for you isn’t always straightforward.

The good news? You don’t need to be a “car person” to work it out. Asking a few practical questions about your lifestyle, driving habits and budget can help you decide whether making the switch makes sense for you.

 

Start with how you drive day to day

One of the biggest factors is your everyday driving routine.

If most of your trips are short commutes, school drop-offs, shopping runs or weekend drives around Tasmania, an EV could suit you well. 

Many newer EVs can comfortably travel several hundred kilometres on a single charge, which is more than enough for the average daily drive.

Think about:

• How far you usually drive each day
• Whether you regularly take long regional trips
• How often you stop for fuel now and how much you spend
• Where you could charge your vehicle 

For many households, charging overnight at home can be more convenient than visiting a petrol station, simply plug in the car like you do your mobile phone! 

 

Consider the upfront cost — and the ongoing savings

EVs can cost more upfront than petrol or diesel vehicles, although prices are gradually becoming more accessible as more models enter the market. 

Second-hand options are also becoming more available, which may help reduce the upfront cost barrier for some buyers.

But it’s important to look beyond the purchase price alone.

Running costs are often lower because EVs:

• Typically cost much less to charge than “fuel”
• Have fewer moving parts to maintain
• Don’t require oil changes
• Can have lower servicing costs over time 

Depending on how much you drive, those savings can add up over the life of the vehicle.

One thing to consider is EVs can wear out tyres faster than internal combustion engine vehicles (ICE). This is due to the extra weight of batteries and other factors that put stress on tyres like instant acceleration and regenerative braking. So you might be shelling out for tyres more often than usual. 

It can help to compare:

• Purchase price
• Estimated charging costs
• Insurance (premiums may be higher than a petrol/ diesel vehicle)
• Registration  
• Servicing and maintenance
• Potential resale value 

A higher upfront cost may still work out favourably in the long term for some drivers.

 

Think about charging access

Charging is one of the biggest questions people have when considering an EV.

If you own your home and have off-street parking, installing a home charger may be relatively simple. Even a standard power outlet can work for overnight charging, depending on your vehicle and driving needs.

If you rent or rely on street parking, charging may take a little more planning. It’s worth exploring:

• Public charging stations near home or work
• Charging options offered by your workplace
• Whether your landlord or body corporate supports EV charging 

As Tasmania’s public charging network continues to grow, and the range of EVs improves, charging is becoming increasingly convenient.

 

Ask yourself how often you take long trips

For some people, EV range anxiety is very real. For others, it turns out not to be an issue at all.

If you regularly travel long distances in one go, consider:

• The vehicle’s driving range
• Charging times
• Availability of fast chargers on your usual routes
• Do you tow a caravan or trailer? This will use extra power that can impact range.  

If you drive long distances regularly for work or visit remote locations in Tasmania, a bit more planning may be required. A road trip in an EV may involve slightly longer stops than a traditional fuel stop, but many drivers find the trade-off manageable once they adjust.

If you’re concerned about charging, a hybrid EV that uses fuel as well as electric power could be a good solution. You get many of the EV benefits, without the anxiety. 

 

Consider your lifestyle and priorities

For some people, the decision is largely financial. For others, it’s also about reducing emissions or trying newer technology.

There’s no one-size-fits-all answer. An EV may suit you if you:

• Want to reduce fuel costs
• Prefer lower-emission transport
• Mostly drive locally
• Have access to convenient charging
• Plan to keep the car for several years
• Have solar power and or batteries at home that could reduce charging costs

On the other hand, if you’re looking for a simple way to get from A to B, and you don’t do a lot of kilometres, a fuel-efficient petrol or diesel vehicle might still make more sense for the next few years. 

If you’re not quite ready to make the leap to 100% electric, a hybrid model could be the answer. 

 

Take your time and do the numbers

Buying any vehicle is a significant financial decision, and it’s okay if the answer isn’t immediately clear.

Before deciding:

• Check out user reviews online and ask EV owners (they love a chat!) about their real life experience.
• Test drive different models
• Compare total ownership costs
• Check with your insurer about premiums
• Consider how the vehicle fits into your broader financial goals
• If you don’t have solar power at home, do you want to plan for it? 

The “right” car isn’t necessarily the newest or most popular option, it’s the one that works for your lifestyle, budget and future plans.

Because whether you choose an EV now, later, or not at all, making an informed decision is what matters most.

If you decide to go down the EV path, a Bank of us Savvy Switch green personal loan could help you get there. Our team of personal lending specialists are happy to work through the options with you and see what's possible. 

 

This is general advice only and does not take into account your personal circumstances.