Joining the EV Revolution on the Gold Coast? Your Financial Checklist

Electric Vehicles (EVs) are no longer a rare sight on Gold Coast roads; they are rapidly becoming a mainstream choice for savvy buyers. With our abundance of sunshine for home solar charging and a growing public charging network, the Gold Coast lifestyle is perfectly suited to EV ownership.

If you're one of the many people planning to go electric, here's a financial checklist to consider before you buy.

1. Calculate Your 'Total Cost of Ownership'

‍The purchase price of an EV can be higher, but your running costs will be dramatically lower. Factor in:

• Fuel Savings: Calculate your current weekly petrol bill versus the small cost of overnight charging. The savings can be enormous.
• Lower Maintenance: EVs have far fewer moving parts than a petrol engine, meaning no oil changes and significantly lower servicing costs.
• Insurance: Get a few insurance quotes, as premiums can differ for EVs.

2. Plan Your Charging Solution

‍The cheapest and most convenient way to run an EV is to charge it at home. Will you need a special high-speed wall charger installed in your garage? This is an upfront cost that needs to be factored into your budget.

• Pro Tip: We can help you access a Green Loan to finance the installation of a home charger, sometimes bundled with your car finance.

3. Secure the Right Finance‍

Financing an EV can be different from a petrol car. Some lenders are still getting used to the new technology and may have less favourable terms regarding battery life and residual values. It's crucial to work with a broker who knows the market. We have access to specialist lenders with competitive and flexible EV car loan policies, ensuring you get a great deal.

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