Is It Time to Get an EV? 10 Smart Questions for Australians.

Fuel Prices Are Forcing a Bigger Question

For a lot of Australians, the current spike in fuel prices has turned electric vehicles from a “maybe one day” idea into a much more immediate question: is it time to get an EV?

That is understandable. When petrol jumps sharply, the weekly cost of driving starts to feel less like background noise and more like a second utility bill with anger issues.

And this is not just a feeling. Recent Australian reporting has shown higher fuel prices are already pushing more drivers to reconsider electric vehicles, with EV interest rising as households look for ways to reduce their exposure to volatile petrol prices. That wider energy-security angle has also been highlighted in recent Australian coverage.

But deciding whether is it time to get an EV is a “yes” for your household is not just about today’s servo pain. Upfront cost matters. Running costs matter. Charging matters. Resale matters. Reliability matters. And if you get it wrong, you can end up swapping one expensive problem for another.

This guide is here to help you think it through properly.

Start Here: Is It Time to Get an EV for Everyone?

Short answer: no.

An EV is not automatically a smart move just because fuel prices are high. It can be a very smart move for some Australians. It can also be the wrong move for others, especially if the upfront price stretches the budget too hard, charging is awkward, or the savings only work if you use optimistic assumptions.

So instead of treating this like a culture war or a religion, the better question is simple: is it time to get an EV for your situation, your budget and your driving habits?

10 Smart Questions to Ask Before You Decide Is It Time to Get an EV

1. How much more will it cost you upfront?

This is still the first hurdle for many buyers.

While EV pricing has improved, the upfront purchase price is still often higher than the petrol equivalent. That means the first version of the question is it time to get an EV is really: can I comfortably afford the switch now?

That includes:

• purchase price
• dealer delivery and registration
• home charger installation if needed
• finance costs if you are borrowing
• insurance differences

If the EV only works by stretching your finances to the point where every other bill gets shakier, the fuel savings do not magically fix that.

2. Are there still government incentives in place?

This is a big one, because a lot of people still assume there are broad consumer rebates floating around everywhere. That is not really the current picture.

At the federal level, the main live incentive is the electric car FBT exemption for eligible zero or low emissions vehicles provided through work arrangements such as novated leasing. The ATO explains the exemption rules here, and that can make the answer to is it time to get an EV much more attractive for some salaried workers.

But there is an important catch. From 1 April 2025, plug-in hybrids stopped being eligible for that exemption unless they were already covered under transitional rules. The ATO’s plug-in hybrid guidance spells that out clearly.

So yes, incentives can still matter. But they are no longer a simple “free money for everyone” story.

3. How much could you actually save on fuel versus electricity?

This is where the EV argument starts to get serious.

The NSW Government says EVs can save up to 70% on fuel and 40% on maintenance, and estimates that a typical car travelling 13,700 km a year could save around $1,000 to $1,200 annually depending on charging patterns. That is a meaningful number if you are honestly asking is it time to get an EV because of the pressure at the bowser.

But the real savings depend on:

• how much you drive
• what your current petrol car uses
• whether you charge mostly at home or rely on public fast chargers
• what electricity tariff you are on
• whether you can charge off-peak or via solar

If you drive a lot and can charge cheaply at home, the savings case can look very strong. If you drive very little or depend heavily on public charging, the gap narrows.

4. What about maintenance costs?

This is one of the quieter advantages of EVs.

Because EVs have fewer moving parts, less routine mechanical servicing is usually needed than with a petrol or diesel car. The NSW Government’s EV guidance is quite direct about this, pointing to lower maintenance costs as part of the overall ownership case.

That does not mean EVs are maintenance-free. They still need tyres, brakes, suspension, software support, 12V battery attention and general servicing checks. But in broad terms, there is less routine mechanical maintenance than with internal combustion vehicles.

That means is it time to get an EV is not just a fuel question. It is a maintenance question too.

5. What if a hybrid is the better stepping stone?

This is worth discussing properly, because for some households the answer to is it time to get an EV might actually be “not quite, but maybe a hybrid”.

A hybrid can be a sensible midpoint option if you:

• do not have easy home charging
• drive in mixed suburban traffic where hybrids do well
• want lower fuel use without going fully electric
• are not yet confident about charging infrastructure or long regional travel (also know as ‘range stress’)

Transport for NSW explains how plug-in hybrids work, and that distinction matters. A standard hybrid still relies on petrol and does not need external charging. A plug-in hybrid can run more on electricity but still has a petrol engine. A full battery EV is 100% powered by electricity.

So if you are asking is it time to get an EV and the answer feels like “I am not ready yet”, hybrid may be the practical middle lane. It will not usually deliver the same fuel savings or servicing simplicity as a full EV, but it can still reduce the pain at the pump without needing you to fully commit to charging infrastructure straight away.

6. What are the charging trade-offs?

Fuel savings are great. Convenience still matters.

If you can charge at home, EV ownership gets much easier. If you cannot, the equation changes. Queensland, for example, has expanded its co-funded public charging network, and the Queensland Government publishes the current list of co-funded charging locations. That is good progress, but charging access still varies a lot depending on where you live and how you drive.

So ask yourself:

• Can I charge at home?
• Would I need to pay for a charger install?
• Do I rent or live in an apartment?
• How often do I do long regional trips?
• Am I happy building charging stops into travel planning?

For some households, this makes the answer to is it time to get an EV straightforward. For others, this is still the deal-breaker.

7. What are the battery, warranty and reliability risks?

This is where people often get nervous, sometimes fairly and sometimes because of outdated assumptions.

Most major manufacturers now provide EV battery warranties of around 8 years or 160,000 kilometres. That is reassuring, but you still need to look closely at the actual warranty terms on the model you are considering. Battery degradation, charging limits, servicing requirements and warranty conditions are not all identical across brands.

There is also a second layer of risk with newer entrants: not just “will the battery last?”, but “will this brand still have strong local support in a few years?”

So when you ask is it time to get an EV, do not only compare sticker prices. Check dealer support, service footprint, parts availability, warranty backing and local distributor stability as well.

8. What about resale value?

This is one of the hardest areas to speak about with certainty because resale values move with new model launches, discounting, changing demand and shifting buyer attitudes.

What we can say is this: EV resale values are still maturing in Australia, and the market is changing quickly. As cheaper EVs arrive and competition increases, some older models may face more pressure than buyers originally expected. That is not necessarily a reason not to buy one. It is a reason to avoid fantasy resale assumptions.

So if you are asking is it time to get an EV, do not assume resale will automatically be brilliant or terrible. Be cautious, do your homework on the specific model, and avoid building the whole purchase case on a heroic resale number three or four years from now.

9. Could a novated lease change the numbers?

For some employees, this is where the answer to is it time to get an EV changes from “probably not” to “possibly yes”.

The federal FBT exemption can make eligible EV novated leases much more attractive because it can reduce the effective cost significantly. The ATO’s electric car exemption page is essential reading if that is part of your strategy.

This will not suit everyone. But if your employer offers novated leasing, it is worth running the numbers carefully rather than assuming all financing options are created equal.

10. Are higher fuel prices enough on their own to justify switching?

Sometimes yes. Sometimes no.

Higher petrol prices are clearly pushing more Australians to seriously consider the switch, and recent reporting shows EV interest lifting as fuel pain grows. But higher petrol prices are not a reason to rush into a bad car purchase. They are a reason to run the numbers properly.

If you drive a lot, can charge cheaply, have a suitable use case and can buy without smashing your budget, an EV may now make more financial sense than it did even a year or two ago.

If you do not drive much, cannot charge conveniently, or would need to borrow more than is comfortable just to get into one, the better answer might be to keep your current car longer and focus first on smarter driving and fuel-saving habits. Our guide on how to save money on fuel in Australia is the perfect companion read if you are not ready to switch yet.

A Simple Way to Compare the Numbers

If you are serious about the question is it time to get an EV, do this before you visit a dealership:

• Work out how many kilometres you drive each year
• Estimate your current annual petrol spend
• Estimate likely annual charging costs at home
• Compare servicing costs over 3 to 5 years
• Add finance costs or leasing costs
• Allow for charger installation if relevant
• Be conservative on resale value

That will give you a much better answer than “my mate says EVs are cheap to run” or “my uncle says the batteries are all doomed”.

Who an EV Makes Most Sense For Right Now

At the moment, the strongest financial case usually applies to people who:

• drive a moderate to high number of kilometres
• can charge at home
• want lower running and maintenance costs
• can access novated lease or employer-supported arrangements
• are replacing a car anyway, rather than reacting emotionally to a bad week at the pump

That last one matters. The best time to switch is often when you were already in the market for a replacement, not when global conflict has made you furious enough to revenge-purchase a battery.

How This Fits With the Bigger Cost of Living Picture

This decision does not sit in isolation. It connects directly to your weekly budget, your transport habits and your tolerance for financial risk.

That is why this article pairs naturally with our guide on how to save money on fuel in Australia. If you are not ready to switch, that article can help reduce the pain now. If you are ready to switch, it helps explain why so many households are now asking: is it time to get an EV?

Final Thoughts

Higher fuel prices will almost certainly drive more Australians to consider EVs. That part is already happening.

But the smart move is not to ask, “Are EVs good or bad?” The smart move is to ask, is it time to get an EV for me, right now, on my numbers?

For some drivers, the answer will increasingly be yes. Lower running costs, lower maintenance and better model availability are making the case stronger.

For others, the right answer may still be to wait, save, compare and squeeze more efficiency out of the current car for a while longer. In some cases, a hybrid may be the more sensible stepping stone before going fully electric.

That is not fence-sitting. That is good decision-making.

Disclaimer

The information in this article is general in nature and does not take into account your objectives, financial situation or needs. It is not personal advice, tax advice, legal advice or a recommendation to apply for any product. Before acting on any information, you should consider whether it is appropriate for your circumstances and seek independent financial, legal and tax advice where appropriate.

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