From The New Daily (2/11/23)
New calculator helps motorists weigh up costs of driving an electric vehicle
Australian motorists trying to work out whether buying an electric vehicle is worth it are in luck – there’s a new online tool that calculates the projected savings from ditching your petrol vehicle.
Launched by Macquarie Bank, the electric vehicle savings calculator allows motorists to compare estimated financial costs and emissions reductions from switching to a new EV from a petrol, diesel or hybrid vehicle.
It crunches the numbers on the costs of petrol versus electric charging, insurance and, of course, the difference in carbon emissions between driving a traditional vehicle or a new electric model.
You can even plug in available state and federal government subsidies to the financial equation.
Macquarie’s Peter van der Westhuyzen said while the upfront costs of an EV are often higher than a petrol car, there is often a financial “break-even” point further down the line where the lower running costs make up for the higher sticker price.