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Busting common electric vehicle myths

If you want to make the switch, Origin’s EV subscription makes it easier than ever to drive electric without the long-term commitment.

Sponsored by Origin

Switching to an EV can feel overwhelming but Origin’s subscription service clears up the confusion and gives drivers flexibility. Let’s bust some myths.

Myth #1: I’ll never own the car

A subscription is a pathway to ownership. You can make an offer to purchase the EV after three years of consecutive subscription. Or you can swap or return your EV at any time with just 30 days’ notice. It’s your choice.

Myth #2: EVs don’t go the distance

Most models offered on Origin EV Subscription boast more than 450 kilometres of range, easily covering commutes and weekend adventures.

Myth #3: The savings won’t be that impressive

Actually, powering an average EV can be about 70 per cent cheaper than fueling an average petrol or diesel car, according to Australia’s Electric Vehicle Council. That’s an average of $1600 saved in fuel costs each year1. Add lower running costs to that—some EV models can save owners $300 to $400 annually on maintenance2—and the savings keep stacking up.

Myth #4: I need solar panels to charge the EV

Your EV can plug into a regular socket, just like a phone charger.

All-inclusive EV subscription

For personal use, you can salary-package your EV subscription from as little as $217 per week3, including insurance, maintenance, tyres, roadside assistance and the car itself. The estimated cost is based on a 39 per cent marginal tax rate deducted from the total subscription cost3. And the longer you subscribe to the same vehicle, the cheaper it gets—15 per cent off every 12 months (for up to five years).

With Origin’s EV subscription, you could save money while you enjoy the flexibility to adapt if your needs change. Visit originenergy.com.au/electric-vehicles to get into your first EV.

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Things you should know

T&Cs and eligibility criteria apply. The content provided is general and has not taken into account your objectives, financial situation or needs. For more information and full product inclusions, visit origin.com.au/electric-vehicles. You can make an offer to purchase the vehicle outright after subscribing to the same vehicle for a minimum of 3 years. Offer acceptance is at Origin’s discretion. Origin maintains comprehensive motor vehicle insurance cover for its electric vehicles and has organised for that cover to extend to the use of the electric vehicles by you. An additional 15% discount will be applied on the anniversary of the delivery of the vehicle (for up to 5 years) and your subscription fee will automatically be adjusted. If you change vehicle, your fee discount will reset. Origin’s insurance is arranged by Aon Risk Services Australia Limited ABN 17 000 434 720, AFSL number 241141 (Aon) and insured by Global Transport & Automotive Insurance Solutions Pty Ltd ABN 93 069 048 255, AFSL number 240714 (trading as GT Insurance ABN 93 069 048 255 AFS Licence No 240714 as agent for the Insurer Allianz Australia Insurance Limited ABN 15000 122 850 AFS Licence No 234708). The cost outline is based on Origin pricing on a BYD Dolphin Dynamic.

¹Electric Vehicle Council, Will I save money by owning an electric vehicle in the long run?

²Electric Vehicle Council, Are electric vehicles cheaper to maintain than internal combustion engine vehicles?

³For more information and full product inclusions, visit origin.com.au/electric-vehicles

An earlier version of this article was published in Brighter magazine.

This article provides general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as personal financial product advice. The views expressed by contributors are their own and don’t necessarily reflect the views of CBA. As the information has been provided without considering your objectives, financial situation or needs, you should, before acting on this information, consider the relevant Product Disclosure Statement and Terms and Conditions, and whether the product is appropriate to your circumstances. You should also consider whether seeking independent professional legal, tax and financial advice is necessary. Every effort has been taken to ensure the information was correct as at the time of printing but it may be subject to change. No part of the editorial contents may be reproduced or copied in any form without the prior permission and acknowledgement of CBA.