Author Topic: Sell petrol family car and buy EV? Australia.  (Read 514 times)

goindeep

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Sell petrol family car and buy EV? Australia.
« on: October 12, 2022, 07:52:56 PM »
Hi all,
We have 2 family cars both paid off so that is good. Well technically one was thrown into the home mortgage but by my rough calculations that is now paid off.

A small Toyota Yaris that runs on fumes and is only really filled once every 2-3 weeks.
And the Hyundai Tucson 2020 model which I think from memory has a 60L tank and so at fuel prices at the moment it's become more expensive to run (back of the napkin calculation is its costing us 44k per 10 years to run) and so I am now considering whether we should sell it and put the money towards something more economical or an EV.
EVs are obscenely expensive in Australia as brand new and so I would be looking at a used one of which there are not many and I may need to go interstate to buy one.

My dad has an EV (Tesla) and loves it. Costs him about $1.40 to charge I think he said and a charge gets him to and from work 3 times.
Looking at the figures and considering EVs are far more economical to drive considering the major factor being zero petrol use but also less servicing that is the way I am leaning and it looks like once I fix the odd dent and scuff on the Hyundai I may be able to sell it for a really good price and potentially not have to put any money down on a used EV.

The only cons I can think of are that we would most likely lose some space, mileage obviously becomes a problem on long road trips which we like to take a couple of times a year and I hate dealing with anything to do with used cars, buying or selling and the time involved.

Gremlin

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Re: Sell petrol family car and buy EV? Australia.
« Reply #1 on: October 12, 2022, 11:51:31 PM »
Not sure if you're still working or not, but it may be worth considering a novated lease if you are. 

Normally I would run from a novated lease faster than Usain Bolt, but the Federal Govt have legislation currently with the senate that will make EVs much more attractive when packaged as part of a novated lease (if the legislation passes, it would be cheaper for Mrs G to get an EV on a novated lease and pay the balloon at the end than to buy it outright - by a fair bit).  Novated leases are complicated and they may not stack up for your own circumstances.  Also, the legislation hasn't yet passed (Greens plus Pocock want to limit it to full EVs only, whereas the Govt's legislation also includes PHEVs), but it's just something you may want to suss out...