Electric vehicles
Explore the costs and benefits of owning an electric vehicle. Learn why electric vehicles, though pricier upfront, are more economical in the long run. Discover insights on insurance, maintenance, and towing capabilities. Uncover state incentives and rebates.
Are electric vehicles more expensive to run than convectional cars?
Electric vehicles are currently more expensive to buy new than a conventional car, but they’re much less expensive to run over the course of their lifetime – which can make them cheaper overall. Charging their batteries is much cheaper than buying fuel for a conventional car, and they don’t need to be serviced nearly as often, since they don’t have an engine that needs maintaining. Another plus is that many states have rebates and incentives for buying an electric vehicle¹.
How much does it cost to insure an electric vehicle?
Insuring an electric car can cost a little more than your regular petrol or diesel vehicle².
That’s mainly because of the more specialised expertise needed to fix them, and the more expensive replacement parts required.
How much does it cost to have an electric vehicle serviced?
Electric vehicles generally cost less to service than a conventional car as there are less moving parts to make them go. A typical service of an EV can be as little as $160 for every two years to $299 per year for a car like BYD Atto 3 SUV³.
Servicing your electric vehicle
Can electric vehicles tow?
The short answer is yes – most electric vehicles should be all good to tow anything your average combustion engine car can, including light trailers, bike racks and ever smaller boats.
If you’re looking to tow something bigger, like a large boat, the vehicles you can get in Australia might not quite be there yet – but electric vehicles that can tow two or more tonnes (over 2000 kg) are likely to be available here soon⁴.
That being said, some electric vehicle manufacturers are taking their time certifying tow kits that meet Australia’s specific design rules. So if towing is important to you, it’s worth double-checking the car you’ve got your eye on can get the job done.
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