Buying a new car can be an overwhelming process, especially when factoring in the long-term running costs and potential savings.
This has become especially prevalent with electric vehicles (EVs), which promise reduced running costs despite a typically higher upfront cost when comparing like-for-like models.
In an effort to better inform car buyers about how much their purchase will cost in the long run, the New South Wales Government has launched a ‘total cost of ownership’ calculator – and anyone in Australia can use it.
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It calculates the relevant taxes, duties, subsidies and other related running costs based on where you live, what car you are looking to buy – or already own – and the distance you drive over a year.
Factors like home solar and battery storage are also taken into account, as both have benefits for EV owners to reduce how much they pay.
The calculator doesn’t just compare EVs to petrol and diesel cars though, with hybrids and plug-in hybrids also included to give buyers as much information as possible before making their purchase.
You can even fine-tune the results to how much you pay for electricity, the cost of petrol and how long you plan to own the car – all of which have an effect on the end figure.
If you want to see how much you could save when looking for your next car, you can use the calculator here.
You can also listen and watch our EV running cost comparison compiled by the CarExpert team earlier this year.
