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Save Money & The Environment With An Electric Car

electric car boq personal loan

The average monthly expenditure on fuel for a single car in Australia is $143.54 according to Canstar Blue data. Queenslanders spend the most per month at $162 while South Australians spend the least at $122. Now imagine your monthly fuel expenditure – is it more or less than the average? Go one step further and imagine if your monthly fuel expense was $0.

Over a year, using an EV could save you $1,722.48 based on the Australian average.

We’re not suggesting everyone starts riding a bike to work or takes public transport, because it’s just not practical for some people. A better option for those who need a car is to buy an electric vehicle (EV). There are so many benefits of electric cars including cutting down your fuel usage entirely. Over a year, using an EV could save you $1,722.48 based on the Australian average. That’s a lot of money you could be using to save for a home deposit or to pay off your credit card debts.

While you will save on fuel, you’ll still have to charge your car at home. This can cost up to $4.50 per 100 kilometres, according to Ergon Energy, but could be even less if you charge only at off-peak times (like overnight). That’s still an enormous saving when compared to fuel charges.

Getting behind the wheel of an electric vehicle is easy with a BOQ unsecured personal loan (our current low rate is available until 25 February, 2018). Here’s why you need an EV:

You’ll save time on filling up

Instead of having to fuel up every week or so, all you’d have to do with an EV is plug in at home or work. Take the Nissan Leaf, for example, which has a battery range of 240 kilometres per charge. Even if you do the school run in the morning and after work, plus commute into the city, plus have to run some chores during the day, that’s more than enough range for two or three days of driving.

When you’re getting a little low, plug into your home power or pull into a supercharger station for 20 minutes (if you’re really stretched). Most of your charging should be done at home though, meaning you can leave it on overnight.

Curb your carbon emissions

Reducing your carbon footprint with an EV might be one of the primary reasons you want one in your life. There’s no emissions as you drive, and power usage when charging is minimal. It still has to be manufactured like any other car, so there is some environmental cost during that process, but once it’s in your garage that’s basically where it stops. A similarly sized Nissan Micra (2015 model) emits 154 grams of CO2 per kilometre – the Nissan Leaf emits nothing.

If you’re concerned about how much CO2 you’re releasing by driving around in your big SUV, an EV might be the solution.

Treat yourself to a smoother ride

In an electric car, 100 per cent of the torque from the engine is available at all times. When you accelerate, there’s no delay between getting energy from the engine to the transmission to the wheels, meaning a faster take-off and a smoother transition between being stopped and getting to speed.

In an electric car, 100 per cent of the torque from the engine is available at all times.

In a petrol/diesel car, 0 per cent of the torque is available when you’re stopped. Torque only becomes available when you press down on the accelerator and the revs increase. Only then can the transfer of energy start, meaning there’s more of a delay between pressing your foot down and moving off the line.

There’s no engine noise from an EV either, so the ride is significantly quieter.

You can save money on your car purchase with BOQ

Buying an EV with a BOQ unsecured personal loan is a smart move. Once you get into your EV, your fuel spending (along with your carbon footprint from burning fuel) becomes nil.

Make the move today to get behind the wheel of an electric car. It’ll change the way you drive and it could be very beneficial to your bank balance. For more information about buying with a BOQ unsecured personal loan, get in touch with BOQ today.

This blog post is for general information purposes only and is not intended as financial or professional advice. It has not been prepared with reference to the financial circumstances of any particular person or business and should not be relied on as such. You should seek your own independent financial, legal and taxation advice before making any decision about any action in relation to the material in this article.

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