Electric vehicles (EVs) are no longer a niche choice in Australia. As more new EVs enter the market each year, a growing number of near-new models are becoming available, giving buyers access to modern technology at a significantly lower price.
Instead of paying the premium for a brand-new vehicle, many Australians are choosing an EV that’s only one to three years old. These vehicles often retain the latest safety features, advanced battery technology and the balance of the manufacturer’s warranty while costing thousands less than buying new.
Whether you’re considering a Tesla, BYD, Hyundai, Kia or MG, it’s worth comparing not only the purchase price but also how you’ll finance your next vehicle. Eligible employees can explore an EV Novated Lease, estimate repayments using our Novated Lease Calculator or compare flexible Car Finance options.
Quick answer: Near-new EVs offer many of the same features as new models while avoiding the steepest depreciation, making them one of the best-value ways to switch to electric driving.
Why Are More Australians Choosing Near-New Electric Vehicles?
Australia’s EV market has matured rapidly over the past few years. As more Australians upgrade to newer models, the supply of quality used EVs has increased, giving buyers more affordable options than ever before.
According to the Electric Vehicle Council, EV adoption continues to grow across Australia, supported by greater model availability, expanding charging infrastructure and stronger consumer confidence.
Australian EV Market Snapshot
| Market Trend | Why It Matters |
|---|---|
| More EV brands entering Australia | Greater competition and lower prices |
| Growing used EV supply | More affordable buying opportunities |
| Battery warranties commonly up to 8 years | Greater confidence buying used |
| Public charging network continues expanding | Easier long-distance travel |
| More employers offering salary packaging | More financing flexibility |
Is Buying a Near-New EV Better Than Buying New?
For many Australians, yes.
The biggest advantage is depreciation.
Like most vehicles, EVs experience their largest drop in value during the first few years of ownership. Buying a near-new model means someone else has already absorbed much of that depreciation while you still receive many of the same features.
Near-New EV vs Brand-New EV
| Near-New EV | Brand-New EV |
|---|---|
| Lower purchase price | Highest upfront cost |
| Slower future depreciation | Largest first-year depreciation |
| Often still under manufacturer warranty | Full warranty |
| Modern safety technology | Latest features |
| Better overall value | Higher initial investment |
Expert insight: Buying a near-new EV can provide a better balance between affordability and technology, particularly for buyers planning to keep the vehicle for several years.
How Much Could You Save by Buying a Near-New EV?
Although savings vary between makes and models, near-new EVs generally offer value in several ways.
Potential ownership savings
- Lower purchase price
- Reduced depreciation
- Lower servicing costs
- Lower fuel or charging costs compared with petrol vehicles
- Remaining manufacturer warranty
- Lower registration and insurance in some situations
Rather than focusing only on the advertised purchase price, compare the total cost of ownership, including finance, servicing, charging, insurance and depreciation.
Are Used EV Batteries Something to Worry About?
Battery health is one of the biggest concerns for first-time EV buyers, but modern EV batteries are designed to last many years.
Most manufacturers provide battery warranties of around 8 years or 160,000 kilometres, although warranty terms vary between brands.
Before purchasing a near-new EV, buyers should consider:
- Remaining battery warranty
- Vehicle service history
- Battery health report (where available)
- Remaining manufacturer warranty
- Kilometres travelled
- Charging habits of the previous owner
Many near-new EVs still have years of battery warranty remaining, helping reduce the risk for second owners.
Which Near-New Electric Vehicles Are Popular in Australia?
Several models consistently attract Australian buyers due to their range, technology and overall value.
| Popular Near-New EV | Why Buyers Like It |
|---|---|
| Tesla Model 3 | Long range, Supercharger network |
| Tesla Model Y | Family-friendly SUV |
| BYD Atto 3 | Strong value for money |
| BYD Dolphin | Affordable city EV |
| Hyundai Kona Electric | Proven reliability |
| Kia EV6 | Long range and premium features |
| MG4 | Affordable entry into EV ownership |
The best choice depends on your driving habits, charging access and budget rather than brand alone.
Can You Finance a Near-New Electric Vehicle?
Absolutely.
Many buyers choose finance rather than paying the full purchase price upfront.
Depending on your circumstances, options may include:
- Cash purchase
- Personal car loan
- Dealer finance
- Secured vehicle finance
- EV Novated Lease (for eligible employees)
If you’re eligible for salary packaging, an EV novated lease may help reduce the overall cost of ownership by combining finance and eligible running costs into one regular payment. You can also benefit from the EV FBT Exemption for the eligible used EV.
Our Novated Lease Calculator provides an estimate of your potential repayments before requesting a personalised quote.
Is Now a Good Time to Buy a Near-New EV?
For many Australians, the answer is yes.
As the number of new EVs entering the market continues to grow, so does the availability of high-quality near-new vehicles.
This increased supply gives buyers:
- More vehicle choice
- Better pricing
- More competition between manufacturers
- Improved finance options
- Access to modern technology without paying full new-car prices
However, every buyer’s situation is different. Before making a purchase, compare ownership costs, finance options and the vehicle’s condition rather than focusing only on the purchase price.
Ready to Make the Switch to an EV?
Whether you’re buying your first electric vehicle or upgrading to a newer model, choosing the right finance option can make a significant difference.
Explore Fingo’s EV Novated Lease solutions, compare Car Finance options or estimate your repayments using our Novated Lease Calculator before making your decision.
Frequently Asked Questions
Is buying a used EV worth it?
For many buyers, yes. A near-new EV can provide significant savings while still offering modern technology, strong battery performance and manufacturer warranty coverage.
How long do EV batteries last?
Most manufacturers provide battery warranties of around eight years or 160,000 kilometres, although warranty terms vary between brands.
Can I get a novated lease on a used electric vehicle?
Yes. Eligible employees may be able to salary package a near-new electric vehicle through an EV Novated Lease, subject to lender and employer eligibility. And for the eligible used EVs, you can still benefit from the EV FBT Exemption.
Is a used EV cheaper to own than a petrol car?
In many cases, yes. Electric vehicles generally have lower fuel and servicing costs, but total ownership costs depend on purchase price, finance, insurance, charging costs and annual kilometres travelled.
How can I compare the cost of buying a near-new EV?
Use Fingo's Novated Lease Calculator to estimate repayments and compare them with traditional Car Finance options before purchasing.
