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

By Paige Sutton · · 2 min read
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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

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Last updated 14 December 2024 Important disclosures and comparison rate warning*
  • Used Car Loan

    Fixed, Secured, No vehicle age limit, $5,000-$100,000

    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 $100,000 depending on your credit score. No vehicle age limits. Easy online application. Fast pre-approval. Pre-approved funds held for 1 month. 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
  • Used Car - Unsecured Personal Loan

    Interest rate
    comparison rate
    Monthly repayment
    6.56% p.a.to 21.99% p.a.
    6.56% p.a.to 22.79% p.a.based on $30,000
    over 5 years

    Competitive fixed rates for borrowers on 1-7 year loans from $5,000 up to $50,000. $0 monthly fees and no early repayment fees to pay. Fast application process on the Revolut app. According to Revolut and subject to loan approval, you'll receive your money into your Revolut account straight away. Eligibility criteria applies.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.56% would cost $35,768.68 including fees.

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    Details
  • New / Demo Car Loan

    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, $5,000-$100,000

    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 $100,000 depending on your credit score. Easy online application. Fast pre-approval. Pre-approved funds held for 1 month. 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
    Go to site
    Details
  • Used Car Loan

    Up to 5 years old, Variable, Secured

    Interest rate
    comparison rate
    Monthly repayment
    7.39% p.a.
    8.50% 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 7.39% would cost $36,854.29 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

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