New EVs on the Aussie scene: Polestar 2 and BYD Dolphin

By Paige Sutton · · 2 min read
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Advertiser disclosure
Woman charging new electric car

Electric vehicles (EVs) have been giving us Aussies those electric feels, even if they are synonymous with the Twitter-Tesla-space-guy Elon Musk. The sales growth for EVs in Australia was exponential over the last 12 months, with an increase of 778.3 per cent! 

Data from WhichCar broke down which EVs were taking charge of the Aussie market this May, with the Tesla Model Y taking out top and third spot. In second place was the BYD with its Atto 3, who have been making waves in the industry. 

Coming in at a not so shabby number six on the list was the Polestar 2, with Volvo set to release a revamped edition of this model in late July. The updated 2024 Polestar 2 is said to include more power, increased driving range, quicker charging and revised looks.

Polestar price?

Polestar 2
Image credit: Polestar Global Media Newsroom

Despite their long term cost savings, electric vehicles are not for the faint walleted. The starting price you would be looking at for the 2024 Polestar 2 is $66,500 plus on-road costs and options for the entry-level model – or $78,500 plus on-road costs and options for a top of the range dual-motor model. 

If you need a little extra help to bite the bullet, the Australian Government does have rebates and incentives for buying electric cars that vary across different states and territories. The entry level Polestar 2 should continue to fall under the threshold for these payments. 

Looking for a cheaper car?

BYD Dolphin
Image Credit: Bendigo Advertiser

A new release from BYD also coming in late June, is the Dolphin. It is stacking up to be the most affordable electric vehicle on the market so far in the industry, with rumours it could clock in at around $40,000. 

Build your dream what? BYD is dominating the Chinese market at the moment, selling 1.86 million electric and plug-in hybrids in 2022, accounting for roughly a third of all new-energy vehicle sales in China as reported by Quartz. For comparison, EV big dog Tesla sold 1.31 million EVs last year in the same market.

Curious about buying an EV?

If you’re interested in reducing your fuel consumption and carbon footprint, EVs can do just that. However, the average Aussie does not have the money needed to bag a set of these wheels upfront. 

An avenue you could explore is a car loan to get a helping hand with the cost of buying a new car. Interest rates can be a beast to navigate, so we have collected some car loans from the Mozo database to help you compare which car loans might be right for you.

Compare Car Loans - last updated 29 April 2024

Search promoted car loans below or do a full Mozo database search. Advertiser disclosure
  • Used Car Loan

    Fixed, Secured, No vehicle age limit

    Interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 18.99% p.a.
    7.19% p.a.to 21.78% p.a.based on $30,000
    over 5 years

    Get a competitive fixed interest rate on a secured used car loan of up to $75,000 depending on your credit score. No vehicle age limits. Easy online application. Fast pre-approval. Pre-approved funds held for up to 3 months. No monthly account keeping fees, no exit fees and no early repayment fees. Flexible weekly, fortnightly or monthly repayments on terms from 1 to 7 years.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.

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    Details
  • New Car Loan - Special

    Home Owner Discount, Including Demo, Variable, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.24% p.a.
    7.36% p.a.based on $30,000
    over 5 years

    Low variable car loan rate for purchasing new and demo vehicles from dealers. Personalised loan amounts between $5,000 and $150,000. Flexible repayment options. Choose between the 3 to 7 year loan terms. Good credit history. Stable employment history and Australian citizenship or PR required.

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 6.24% would cost $35,880.27 including fees.

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    Details
  • New Car Loan

    Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 18.99% p.a.
    7.19% p.a.to 21.78% p.a.based on $30,000
    over 5 years

    Get a competitive fixed interest rate on a secured new car loan of up to $75,000 depending on your credit score. Easy online application. Fast pre-approval. Pre-approved funds held for up to 3 months. No monthly account keeping fees, no exit fees and no early repayment fees. Flexible weekly, fortnightly or monthly repayments on terms from 1 to 7 years.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.

    Compare
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    Details
  • Used Car Loan

    Up to 5 years old, Variable, Secured

    Interest rate
    comparison rate
    Monthly repayment
    7.74% p.a.
    8.85% p.a.based on $30,000
    over 5 years

    Used Car Loan with no monthly or ongoing fees, with a fixed rate for the life of the loan. Fast online application. Good credit history. Stable employment history and Australian citizenship or PR required.

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 7.74% would cost $37,153.94 including fees.

    Compare
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    Details
  • New Car Loan - Special

    Home Owner Discount, Including Demo, Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.99% p.a.
    8.11% p.a.based on $30,000
    over 5 years

    Eligible for homeowners only. Low fixed car loan rate for purchasing new and demo vehicles from dealers. Early payout options available. Winner of Mozo's Experts Choice Car Loan 2021 award^. Good credit history. Stable employment history and Australian citizenship or PR required.

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 6.99% would cost $36,513.67 including fees.

    Compare
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    Details

* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

^See information about the Mozo Experts Choice Personal Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.