Knowledge base
Is Now a Good Time to Buy an EV in Australia?
This is one of the most common questions people ask, and it is a fair one. EV technology is improving, new models are arriving, and prices are shifting. So should you buy now or hold off?
Here is an honest assessment.
Reasons To Buy Now
Prices have come down significantly. Just a few years ago, affordable EVs barely existed in Australia. Now there are multiple options under $40,000 (drive-away deals vary by state), and competition between manufacturers is driving prices lower. The affordable end of the market is the most competitive it has ever been.
Found an EV that fits your budget? The finance path needs to fit too.
We help you compare the main options for the vehicle you are considering — personal, business and novated where it applies.
Specialist EV finance brokers.
Government incentives are available now but may not last forever. The FBT exemption, import duty exemption, and various state-level rebates are all currently in play. These incentives have a real impact on the cost of going electric, but governments can scale them back or remove them as EV adoption grows. For the current status, see our guide on EV government incentives.
Running cost savings start immediately. Every day you drive a petrol car instead of an EV, you are paying more for fuel and servicing than you need to. The savings from switching are real and they start from day one. See our breakdown of EV running costs vs petrol.
The charging network is usable now. It is not perfect, and it is still expanding, but for the vast majority of daily driving and even most long-distance routes, the infrastructure is there. See our guide on road tripping in an EV.
Shopping under $50k often means trade-offs on range and spec — your loan term should match those trade-offs.
A broker can help you avoid a mismatch between how long you keep the car and how the loan is structured.
Resale values are stabilising. Early concerns about EV depreciation are easing as demand for used EVs grows and battery longevity proves better than expected.
Reasons To Wait
You might get a better deal in six to twelve months. More models are arriving, and increased competition tends to push prices down. If a specific model you want is about to be updated or replaced, waiting could get you a better price on the outgoing model or improved features on the new one.
Battery technology continues to improve. Newer models tend to offer longer range, faster charging, and potentially longer battery life. If you are not in a hurry, the technology will keep getting better.
Test drove something in this price bracket? Mention the model and we will tailor the conversation.
Different lenders have different appetites for brands and ages — brokers shortcut the guesswork.
The charging network will keep expanding. If you live in an area where charging coverage is currently thin, waiting a year or two may bring more convenient options.
The Honest Answer
There is never a perfect time to buy any vehicle. Technology always improves, and there is always something newer around the corner. If you wait for the perfect moment, you will wait forever.
The practical question is: does an EV make sense for your life right now? If you have access to charging, your daily driving is within the range of available EVs, and the numbers work for your budget, there is a strong case for buying now and starting to benefit from the lower running costs immediately.
If your situation does not quite suit an EV yet, maybe because charging is difficult where you live, or the specific vehicle you want has not arrived in Australia, then waiting is sensible. In the meantime, a hybrid might bridge the gap. See our comparison of EVs vs hybrids.
How Finance Fits In
Finance lets you get into an EV now and spread the cost, while benefiting from current incentives and lower running costs from day one. If you are unsure about depreciation, your broker can structure the loan with a balloon payment that aligns with the vehicle's expected future value.
For a broad overview of asset finance, visit Aussie Finance Hub.