EV Car Loan 5.49% p.a. (6.92% Comparison Rate) for Essential Workers or Gross Income Below $100,000 @ Commbank EV Access Program

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EV Car Loan 5.49% p.a. (6.92% Comparison Rate) for Essential Workers or Gross Income Below $100,000 @ Commbank EV Access Program
Go to Deal
bemybubble on 19/12/2024 - 12:18 commbank.com.au (1678 clicks)
Last edited 19/12/2024 - 12:29 by 2 other users

The government just announced low interest loans for essential works or those with gross income <$100k.

Given the EV deals coming through I have no doubt this will appeal to those who are in the market for one and need to finance it.

CommBank EV Access Program

The CommBank EV Access Program offers a special rate of 5.49% p.a. (comparison rate 6.92% p.a.) on a Secured Personal Loan for eligible electric or hybrid vehicles.

Key Points

  • Eligibility:

    • Essential workers: Individuals employed as teachers, instructors, medical professionals, veterinarians, government officials, or care workers, OR
    • Individuals with a gross income of $100,000 p.a. or less

  • Vehicle Criteria:

    • Electric or hybrid vehicles emitting less than 120g of CO2 per kilometre
    • Price and loan amount up to $55,000

Financial Car Loan Electric Vehicle Loan

Related Stores

Commonwealth Bank
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Clean Energy Finance Corporation
Clean Energy Finance Corporation

Comments

  • littlesoldier on 19/12/2024 - 12:21
    +5

    Is it better to get car loan or novated lease?

    • bemybubble on 19/12/2024 - 12:22
      +12

      Like most answers. It depends. Not all employers offer a novated lease.

      • WhyAmICommenting on 19/12/2024 - 12:57
        +4

        If you can get a decent interest rate and are on over 80k I would say lease

      • JsMIT on 19/12/2024 - 13:13
        +6

        If you really want a new car then NL is an option but be careful which lease company you go through. Some will allow you to purchase the car for the depreciated value at the end of the lease and some won't allow that. Pick your leasing company very carefully. Most of the time, buying the car after the lease is the best value as you have already pay for the depreciation through the NL. But if the leasing company won't allow that option then they are pocketing the 'profit'.

        • WhyAmICommenting on 19/12/2024 - 13:31
          +5

          That’s news to me. I thought final payout cost was determined by ATO and mandatory.

          • JsMIT on 19/12/2024 - 13:54

            @WhyAmICommenting: You are correct in saying the ATO depreciation amount is usually the final payout cost. For a 3 yr lease its around 45% of purchase cost. However, some lease company won't allow you the option of a final buy out as part of the lease contract. They keep the car, sell it and pocket any profit. You loose if the car is worth more than the final buy out cost but you have already paid the 55% depreciation on it during the 3 year lease cost. This is why you need to read the lease contract and ask the right question before signing it.

            • WhyAmICommenting on 19/12/2024 - 16:24
              +2

              @JsMIT: I went 5 years on an mg4 - less than 10k payout

              • JsMIT on 19/12/2024 - 17:06

                @WhyAmICommenting: That sounds about right. Based on a $35K car leased for 5 yrs. The ATO residual value of that is around 28% of $35K
                and that is you balloon payment amount at the end of the lease. Best bang for buck and if you can afford it, is to get a 1 yr lease as the residual amount is 66% (big depreciation in 1st yr), if the car is worth more than that amount after 1 yr then you can pay the balloon amount and sell the car and repeat the lease for something similar. Like I've mentioned lower in this thread. Your best bet is try to get an associate lease. 1 yrs lease and you could actually make money from buying a new car every year.

                • cheaptech20 on 28/12/2024 - 08:15

                  @JsMIT: I've never seen one that didn't allow payment of the balloon at the end to take ownership. I have experience them PUSHING you to opt for the other options (renew the lease, new car trade in etc) but that's been it.

      • Frozensage on 19/12/2024 - 13:34

        isn't car loan just one part of a novated lease? So in theory you could get this car loan and also a NL, long as the NL manager/provider is happy to deal with cba for the loan.

        • d3ft on 19/12/2024 - 13:36

          Novated lease requires a loan with a balloon payment, which this one doesn't offer.

    • tcommy79 on 19/12/2024 - 12:22
      +11

      I would say definitely novated lease but happy to hear otherwise.

      • littlesoldier on 19/12/2024 - 12:32
        +2

        What I am considering is
        EV has significant more depreciation compare to ICE car (eg. resale value after 3 years)
        and the EV price are still going down hill

        So instead of owning a car via car loan (which you get the ownership from day 1)
        At the end of novated lease
        it might be more beneficial just to end the lease and get another EV car (likely to be even cheaper compare to 3 years ago)

        • whyisave on 19/12/2024 - 13:23
          +2

          So instead of owning a car via car loan

          Check the new subscription model, for EVs, from AGL
          https://next.agl.com.au/ev-subscription/salary-packaging

          You just 'rent' the EV from them, for 1-month, 6-month or 12-month periods.
          You can change the car to whatever you like, after those time periods.
          You don't pay for registration, stamp duty, insurance, nor maintenance (eg. tyres).
          Then, AGL also give their "competitive rates" for EV charging, between 00:00 - 06:00 all night.

          • WhyAmICommenting on 19/12/2024 - 13:33
            +1

            @whyisave: Only $45 a fortnight cheaper than my mg4 lease but worth checking I guess

            • whyisave on 19/12/2024 - 13:40

              @WhyAmICommenting: Is your MG4 lease a novated lease or just your own car financing ?

              With the AGL offering, there is no residual / balloon payment.

              • WhyAmICommenting on 19/12/2024 - 16:25
                +1

                @whyisave: True, my payout after 5 years is about 9k.

                Novated lease.

                • whyisave on 19/12/2024 - 16:33

                  @WhyAmICommenting: Your payout figure is probably $9K + GST, ie. ~$10K

                  So, the AGL product is interesting in the sense that you don't need to have enough money in your account, to cover the balloon / residual payment, and you don't have the issue of needing to recoup the cost of the EV by selling the EV at the end.

                  Imagine if you didn't get the MG4, and it the "T-brand" EV, the residual would be about $30K for a 2023 model, after 3 years, and not everyone might have that ca$h at the end to pay out.

                  Then again, you're paying about $300 - $400 weekly, for an annual spend of about $15K - $20K every year, to be able to switch & drive cars as you like, and always driving something 'new'.

                  I think it's a matter of time, you will see more and more novated companies, offer "EV Subscriptions".

                  • serpserpserp on 19/12/2024 - 21:01

                    @whyisave:

                    I think it's a matter of time, you will see more and more novated companies, offer "EV Subscriptions".

                    I haven't read the fine print but from what everyone is posting here it sounds like the risk of selling 3 year old cars (or whatever age) lies with AGL which is a massive risk. Only takes a popular lemon to occur before AGL are sitting on a mass of cars they can't sell.

          • Nalar on 19/12/2024 - 13:38
            +1

            @whyisave: This doesn't give you equity for your outlay, not sure it's a good idea to replace a car you own, but if your on the fence about if a EV is good for you, this might help make the decision.

        • gromit on 19/12/2024 - 13:43

          most novated leases are only lease in name, you have a balloon payment at the end that you are liable for, you don't just get to hand the car back. Many of the vehicle brands do do guaranteed buyback at a set value (assuming good condition) but you pay through the ring for those deals.

          • BlinkyBill on 19/12/2024 - 13:52
            +1

            @gromit: That's not true, I had operating leases for many years and many cars. At the end of lease, I would buy it out and flip it if the lease company buy-out offer had enough buffer or hand the car back if I wasn't confident.

            Sure many leasing companies will steer you towards a finance lease, but many of the bigger ones will do up the numbers quite happily if you ask for an operating lease.

            • gromit on 19/12/2024 - 13:58
              +1

              @BlinkyBill: "generally" an operating lease is different to a novated lease. operating lease is between you and finance, common for businesses. novated is a 3 way deal between your work, you and a finance company.

          • Nom on 19/12/2024 - 22:22
            +1

            @gromit:

            most novated leases are only lease in name, you have a balloon payment at the end that you are liable for, you don't just get to hand the car back.

            This is completely incorrect, you have an optional balloon payment at the end and you can absolutely hand the car back if you like.

            Many of the vehicle brands do do guaranteed buyback at a set value

            This is irrelevant for a Novated Lease - the depreciation percentages are fixed and set by the ATO.

      • JsMIT on 19/12/2024 - 13:27
        +5

        Once again NL is an option but not the best if you can get an associated lease. Very similar to a NL but you are leasing the car from an 'Associate' partner, parent, sibling etc who earns less than about $75K and they buy the car and lease it to you via a leasing company that will set up the associated lease with you employer for a fee. The associate will need to get an ABN and lodge a BAS but everything they get from you for lease cost is fully tax deductible to you and your associate. This works out way better than a NL They can then give you the total least cost back as a gift…

        • gumbs on 19/12/2024 - 14:15
          +1

          You can also stack this deal with an associate lease. So the low income associate (partner, parent etc) pays for the car on this loan, claims interest and depreciation against the lease payments and only pays tax on the difference. You can also generally package a second vehicle that might not be worth leasing normally so they can then claim depreciation for that vehicle and any interest payments.

          The only downside of this method is household reportable taxable income goes up quite a bit which affects hecs and child care subsidies etc.

          In my personal case I weighed up 4 options.
          1 keep my 15 year old car
          2 buy a 7 year old car
          3 novated lease for an $82k tesla m3
          4 associate lease for an $82k tesla m3 at 4% and my existing 7 year old 4wd.

          Option 4 & 1 worked out the same cost over 5 years when I did the exercise 2 years ago. However I massively under estimated depreciation. So it's now equivalent to option 2 (option 2 was biased as the car I was going to buy has very good depreciation).

          Associate leases should be the standard way of doing a lease. They are so much better then novated leases let alone when you can get discounted finance like this.

          • CacheHunter on 19/12/2024 - 15:29
            +1

            @gumbs: My 20 year old car is a perfect example for an associate lease. New engine paid for with pre tax dollars, move income from my top marginal rate income to spouse on 0%.

            The problems come when people use the savings to buy a better or newer car than they would have without a NL/AL and then have to break the lease unexpectedly.

            • gumbs on 19/12/2024 - 15:43
              +3

              @CacheHunter: That's fair, but breaking an AL is easy, unless you bought a tesla and it depreciated far faster then you paid it off because Elon dropped the price of new ones by $10k…..

              In my case the associate is in the 30% tax bracket and has a hecs debt, so it didn't make sense unless it was on an FBT exempt vehicle.

              I definitely used it to justify buying an $80k car vs a $25k one. But there wasn't options for a 7 year old (FBT exempt) $25k mid size performance ev so there was plenty of benefit in spending the extra money.

              • JsMIT on 19/12/2024 - 17:18

                @gumbs: The only way you can make any lease deal work is to get an EV or plug in EV (before April 25). Otherwise, FBT is the killer for any lease deal. I calculated for an ICE vehicle, even if you're on the top tax rate, its not worth it even if you buy a car around the $30K mark let alone anything nearer to the LCT range. You might as well catch Uber everywhere as its actually cheaper.

        • Nom on 20/12/2024 - 10:20

          who earns less than about $75K and they buy the car

          How does this part work ? Surely if they earn less than $75K then they couldn't possibly afford to buy the car ?

          • JsMIT on 20/12/2024 - 15:59

            @Nom: You buy the car in their name. You're the puppet master and they are the puppet. All legal though.

    • randomdude14 on 19/12/2024 - 12:23
      +7

      very different things and depends a lot on your circumstances and what you want to achieve.

      Car Loan:
      -Ownership: You own the car outright once the loan is paid off.
      -Flexibility: No restrictions on car usage or modifications.
      -Costs: Interest payments on the loan; no employer involvement.
      -Tax: Payments are made with after-tax income; no tax benefits.
      -Suitability: Better if you want full control and long-term ownership.

      Novated Lease:
      -Ownership: The car is leased and returned or purchased at the end of the term.
      -Tax Benefits: Payments are made with pre-tax income, reducing taxable income.
      -Inclusions: Running costs (fuel, maintenance, insurance) can be bundled into payments.
      -Restrictions: Employer must offer this option; rules may apply for usage.
      -Suitability: Ideal if you want tax savings and bundled car expenses.

      Decision Factors:
      -Go for a novated lease if you’re eligible and want tax benefits with bundled costs.
      -Opt for a car loan if you prioritize ownership and flexibility.

      • whyisave on 19/12/2024 - 13:27

        One thing about novated lease is that, if you do decide to end the lease early, you still have to pay the contracted amount "owing".

        Example:
        During a 24-month lease, you decide to end it in month number 19, then you will pay out the residual / balloon amount
        PLUS
        the 5 months (24 - 19 months) of weekly/fortnightly payments which were budgeted at the start of your lease.

      • serpserpserp on 19/12/2024 - 21:15

        Ownership: The car is leased and returned or purchased at the end of the term.

        I don't think you can just return a car and walk away. If you want out of your novated lease arrangement you have to pay it off. Otherwise the car gets sold and you still pay the gap anyway?

        • drewbytes on 20/12/2024 - 07:10

          My understanding is from my previous leases, you can return it and they will then sell the vehicle (likely at auction). They pocket any profit, and if it sells for less than the end of lease payout figure, you pay the difference.

    • dasher86 on 19/12/2024 - 12:24
      +1

      It depends on individual circumstances.
      Novated lease benefits are greater if you're on a higher income..and is also risky if as it's an agreements between you, your employer and a third party.
      This loan is pretty good on the surface. I haven't looked into residuals and loan length etc.
      If this was available when I got my EV I would definitely have considered it.

    • abs898 on 19/12/2024 - 12:37
      +1

      NL interest rates are higher but when salary sacrificed let's say you are in the 30% bracket, the real I terest will drop. Also running costs are fully sacrificed as well atm. So completely depends on how much you make, drive and what car you get

      • matyd on 19/12/2024 - 18:42

        Apologies if it's been mentioned but another major bonus is for the EV NL all repayments are taken out pre-tax.

    • ozisaver on 19/12/2024 - 13:43

      DiY novated lease where you can choose your own financier . But most NL companies are scummy and won’t allow this

      • BlinkyBill on 19/12/2024 - 13:56
        +3

        It would be awesome to collate a list of these providers because some of the interest rates offered are criminal and they never reveal them, they just quote you a weekly/fortnightly/monthly post-tax amount.

        When pushed to reveal the interest the lease people do mental gymnastics not to disclose the number, then it's even crazier when you ask if they're getting upfront or trailing commissions on the finance arrangement.

    • Jayphen on 19/12/2024 - 13:50
      +1

      Very much depends on how much of it will come out of which tax bracket.

      If your salary is high enough that the whole thing comes out of the highest tax bracket, it's a no-brainer. That's almost 50 cents on the dollar you are saving. You also roll in electricity, maintenance (e.g. car wash), tyres and insurance in to the novated lease, pre-tax and no GST.

      At the end of it (I went for 3 years), you pay a residual (I will pay 19k for my model Y) and either keep it or sell it and start again.

      • whyisave on 19/12/2024 - 16:44

        At the end of it (I went for 3 years), you pay a residual (I will pay 19k for my model Y)

        Which year is your Model Y ?
        You'll find that over the 3-years, you will have 'lesser' take-home pay because of it.

        • Jayphen on 19/12/2024 - 17:26
          +3

          Yes of course there is an impact to take-home pay - about $800/month comes out of my pocket in total (includes the car, rego, electric and maintenance costs).

          2024 Model Y w/ upgraded rims, interior, paint, and EAP.

          https://docs.google.com/spreadsheets/d/1CtpBXmuhRW3HrBjqJqnP… helped me make the decision.

          Using the above, my total out of pocket over 3 years is around 63.5k vs 96k with a normal loan @ 6%. Selling my PHEV in the meantime to increase liquidity. It made sense for me, but YMMV.

          The novated lease over 3 years costs me 20k less out of pocket than the driveaway price (including the residual)

          • whyisave on 19/12/2024 - 18:20

            @Jayphen: I've seen that spreadsheet before.

            I think it works well for very high income person,…but what is "high income" these days? ha.

            Also, Tesla prices dropped this year, so the Model Y is more attractive, but Chinese EV are really bringing the prices down next year.

            I was just trying to figure out your sums, because I thought that residual was quite low, but then I have to presume you got the Model Y RWD or Long Range (unless you got the Performance after April 2024).
            I looked into all this myself, a few weeks ago.

            So, as per the guidance, the residual value amount owing, will be based on around this.

            Year Term — Residual Value Of Purchase Price
            1 Year — 65.63%
            2 Years — 56.25%
            3 Years — 46.88%
            4 Years — 37.5%
            5 Years — 28.13%

            The EV lease looked better but just be mindful of the reduction in income, the electricity costs (depending on which method the lease company will calculate), the balloon payment (including GST), your credit rating, the price of the car at the end of the lease, because you may want to recoup the costs at the end of it all, but there's going to be a glut of EVs on the market by then.

            • serpserpserp on 19/12/2024 - 21:30

              @whyisave:

              1 Year — 65.63%

              Where can I find these 12 month old model Y's at 40k? I seriously want one.

              • valco on 20/12/2024 - 08:46

                @serpserpserp: You can't, it just means the person selling it pockets the profit. So if the person with NL sells it for $50k, they owe the the NL firm $40k. Works the other way though if the price you sell is less than the amount owed to the NL firm.

    • kungfuman on 19/12/2024 - 14:10
      +1

      can they do the same rate for home loans?

    • ilikeit on 19/12/2024 - 15:40

      How long is a piece of string? Many variables at play.

    • naruto128 on 19/12/2024 - 16:03
      -5

      Always better off paying cash. If going NL the interest is higher n you better be sure you can complete the term as the break lease fees/penalties are horrendous. eg if you sign a 5yr NL and lose your job after 1 year and cannot transfer the NL to the new employer, you need to continue paying the lease payments without the tax benefits. If you break the lease you need to pay up the remaining 4 years plus penalty fee.

      • Jayphen on 19/12/2024 - 17:31
        +4

        Definitely not always better off paying cash. If you have a secure job and a high income, it's far better to NL.

        If you cannot continue the NL due to change of employer and the new one doesn't offer NL, you take on the lease yourself. At that point you are paying more than a lease would have otherwise cost, but the savings you already made probably outweigh it unless you got the sack less than halfway through your NL. If you are on a high enough salary for NL to make sense, you'll be fine.

        • 1st-Amendment on 20/12/2024 - 07:54
          +1

          If you have a secure job and a high income, it's far better to NL.

          Terrible advice.

          Everyone circumstance are different which is why you shouldn't get financial advice from strangers on the internet.

          FWIW my accountant advise me against NL, said it's a waste of money if you have the cash as you are simply losing money to interest.
          But your circumstances maybe different so seek your own advice.

          • Jayphen on 20/12/2024 - 15:01
            +1

            @1st-Amendment: Yes, that is why I prefaced it with "not always". Of course everyone's circumstance is different; I was replying to the other person who said that it is "always" better paying cash.

            FWIW my accountant advised me the opposite to you, because the tax savings are immense in my circumstance.

    • CasinoChunks on 19/12/2024 - 20:03

      "Novated lease" will always invite lots of opinions.
      When doing the numbers for me with my car use, salary and how long I wanted to keep the car. I was better off with a credit union green car loan.
      But I have had friends that novated lease has worked great for them.

  • musai on 19/12/2024 - 12:23
    +8

    is gross income under 100k consider low income now?

    • tcommy79 on 19/12/2024 - 12:24
      +7

      100k is average now

        • TheFreaK on 19/12/2024 - 12:29
          +1

          Mr Lambo skewing those damn income statistics

        • ASR-Briggs on 19/12/2024 - 12:29
          +10

          I think you mean median bruv. Average literally means the mean.

        • vorsprung on 19/12/2024 - 12:29
          +9

          not the median you mean

          • serpserpserp on 19/12/2024 - 21:32

            @vorsprung: He means the mean not the median, don't be average and mean about it.

    • melbourne guy on 19/12/2024 - 12:36
      +3

      The median salary of the average Aussie is $72,592 which is a better way to gauge the typical salary.

      • nigel deborah on 19/12/2024 - 13:29
        +3

        The *median Aussie you mean

    • Cluster on 19/12/2024 - 13:16
      +8

      $100k is poor in Sydney, while $100k in a small town is doing well

      • drfuzzy on 20/12/2024 - 00:40
        -2

        Sydney is a small town from a global perspective

    • gumbs on 19/12/2024 - 14:17

      For a new car buyer it probably is.

    • Richcor on 19/12/2024 - 20:38

      If you cant buy a house with 100k you're low income wouldn't you think?

  • Jamiea on 19/12/2024 - 12:28
    +17

    This deal will definitely upset jv

    • TheFreaK on 19/12/2024 - 12:29
      +9

      Look up

      • Jamiea on 19/12/2024 - 12:30
        +5

        Called it

  • Beezum on 19/12/2024 - 12:28

    What is ozbargains favourite EV?

    • Fredfloresjr on 19/12/2024 - 12:30
      +18

      Anything but Tesla

    • rodericb on 19/12/2024 - 12:30
      +6

      Tamiya Hornet

    • jv on 19/12/2024 - 12:32
      +2

      Eddie Vedder

      • whyisave on 19/12/2024 - 13:28
        -1

        Made me chuckle.

        Have a +1

    • nedski on 19/12/2024 - 12:33
      +4

      I must admit im tempted by the Xpeng G6. We currently own an Atto3.

      • sween64 on 19/12/2024 - 12:52

        How long have you had the Atto 3? Pros and Cons?

        • nedski on 19/12/2024 - 13:33
          +1

          We were one of the first to purchase so had it for 2 years now. Hasnt missed a beat. We have two kids under 5 and its been fine for trips down to Tasmania and elsewhere including the snow.

          We have solar at home so for most of the year we drive around for free and the servicing has been minimal. The fast charging network is getting better and better so charging on long trips has become less frustrating. For the price we paid for it and combined with a novated lease, it has been a major saving on our household budget.

          I think the only con would be a bit more limited space compared to our previous subaru outback and the max fast charging at 90kw is getting slightly annoying.

          • sween64 on 19/12/2024 - 15:56

            @nedski: What’s the range? That is, what was quoted? How much did you get at the start? How much do you get now? Has the battery degraded?

            How long does it take to charge from day 20 to 90% on a 90kw load or a typical fast charge in a road trip?

            I’m considering a BYD or MG. Just trying to work out how much I should spend on a higher battery?

            I usually do about 200km per week for work. Would occasionally like a road trip of 400km (one way) or so.

            • nedski on 20/12/2024 - 08:49
              +1

              @sween64: The range is advertised as 480km but it differs depending on city or highway driving.

              There has been no issue with battery degradation.

              Regarding charging, if you are doing 200km per week, home charging via a PowerPoint will be fine.

              On the rare times I fast charge, I only spend 30 to 40 mins but I'm usually grabbing a bite to eat at the same time.

              For people not used to charging, it eventually becomes something you don't stress over.

          • beesider on 20/12/2024 - 07:11

            @nedski: How about the fixed non-adjustable headrest? Does it cause neck pain?

            • nedski on 20/12/2024 - 08:45

              @beesider: I'm 190cms tall. Never had any issues.

      • whyisave on 19/12/2024 - 13:32
        +1

        Go for this deal then:

        Free 10 Years Extended Warranty on XPENG G6 Parts & Battery
        https://www.ozbargain.com.au/node/875759

        There's still time for this (ie. before 31/12 , 2024)

        PS:
        XPeng Launches in Australia: Sydney Flagship Experience Centre Tour!
        https://www.youtube.com/watch?v=r85S7dfC6Uo

        • nedski on 19/12/2024 - 13:34
          +1

          I have seen the G6 and happy with it, I would need to take my partner to a showroom first so she can also check it out.

          • whyisave on 19/12/2024 - 13:42

            @nedski: I saw the G6 a the Sydney EV AutoShow , a couple of months ago.

            Cosmetically looks good, and is a Model Y competitor, at significant price difference.

            However to me, the Tesla software is a lot mature and advanced by getting a head-start,
            but Chinese EVs will 'catch up' in a few years' time.

            • nedski on 19/12/2024 - 13:43
              +3

              @whyisave: Im just forward thinking a bit as the kids are getting older and need a bit more space internally. A Model Y is a good space but I dont want to give Musk one red cent so the G6 is appealing.

              • Heybargain on 19/12/2024 - 16:49
                +3

                @nedski: Got to be nuts to be buying into this brand at this point.

                If it was manufacturer backed, or the importer is known, or laid out solid plans for future expansion, then it would put my mind at ease.

                TrueEV is a distributor with no past experience in the space. A large number of them are from the finance space. Not automotive. There is no history on what they are like managing brands, spare parts supply, customer service.

                They are using Ultratune to service their cars. Zero investment seems to be made to establish a proper dedicated servicing network for their cars.

                Nothing against the xpeng brand but personally I’d be waiting 18-24 months before committing to see how they perform.

                • nedski on 19/12/2024 - 17:21

                  @Heybargain: I admit there would be some risk. But same was said about BYD. They had a crap distributor and they use Mycar to service. But it worked out in the end.

                  • Heybargain on 19/12/2024 - 19:20

                    @nedski: The way BYD is operating the brand is far better.

                    EVD are the importer (still are)
                    EVD teamed up with Eagers at the very beginning to support the dealer network roll out.
                    Eagers have increased their investment in that side of the partnership since.
                    BYD have invested in Australian testing of their cars (Dolphin, Seal, Sealion 6, Shark and Sealion 7 have all been tested here before they launch
                    BYD have made the consious effort of flying their heads out to Australia/NZ multiple times to check on how the roll out is going. They have been asking for customer feedback, etc.
                    BYD and Eagers have announced they are working towards 100 dealer/service locations by the end of 2025
                    https://www.drive.com.au/news/byd-australian-dealer-expansio…

                    TrueEV (the importers of Xpeng) have no such partnership in place. It looks like (at the moment) they are trying to do the whole thing themselves. Apart from the opening recently of their flagship location at Sydney airport. They don't seem to be investing in Australian testing either.

                    Anyway, positive reports so far from those who have purchased the car.

            • serpserpserp on 19/12/2024 - 21:35

              @whyisave: It is lighter than a model Y which has to be a good thing.

        • fremeer on 19/12/2024 - 14:03
          +2

          That's how every electric car works(or 99%)

          Am electric motor is vastly different to an ICE and as such doesn't need the traditional gearbox in any capacity.

          • jv on 19/12/2024 - 14:05
            -6

            @fremeer: I need at least a 5-speed….

          • scud70 on 19/12/2024 - 14:11
            +1

            @fremeer: damn you fell for it @fremeer … you don't reply to jv with actual facts lol

        • nedski on 19/12/2024 - 17:20

          God you must be bored to continually post nonsense.

          • jv on 20/12/2024 - 00:10
            +1

            @nedski: I am not God. That is blasphemy…

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