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Four Tesla Alternatives

Four alternative electric cars available now or coming this year

Ben Gribbin
Ben Gribbin

Updated

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Only Tesla make electric cars (EVs) right? Wrong! There are a surprising number of cheaper alternatives to cars from Elon Musk’s company. Over the next few years, more and more mainstream car making giants are launching EVs and Tesla is going to have a fight on its hands.

Nissan Leaf 2.0

This year, Nissan is updating its popular and successful Leaf electric car. The Leaf is currently the world’s best selling EV, with over 300,000 units shipped. It's also one of the most affordable. The original Leaf launched in 2010 whilst Tesla were still converting rebadged Lotus cars to electric.

The original car featured numerous aerodynamic design features, including sweeping headlights that deflect air around the wing mirrors, reducing drag. The underside also had smooth panelling, making the car more slippery and further lowering drag. Nissan opted for LED headlights to lower power usage and increase efficiency. The Leaf was sold in Australia for a time and you may be able to find an original first-generation demo model for sale at dealers today.

The Leaf 2.0 should arrive sometime this year or in early 2019. The updated car promises to double the distance between charges to 400km, with some refinements to improve acceleration. The Leaf 2.0 will also boast driving assists like automated parking.

The expected retail price is between $40,000 and $50,000.

Tesla Alternatve: The Nissan Leaf

BMW i3

For those looking for a luxury EV at half the price of a Tesla, the i3 and i3s sports models by BMW fit the bill nicely. 95% of the i3 is recyclable, with BMW stating they tried to design with sustainability in mind. BMW package a 33kWh battery into the i3, however, this includes a non-usable, battery life-prolonging safety buffer of 6kWh. Still, the zero-emission German car boasts a 310km range.

The interior is deceptively spacious, but the external styling may divide opinions. The accompanying BMW smartphone app even helps drivers set off at the optimal time, how very German!

The list price for the BMW i3 is $68,700 excluding on-road costs.

BMW i30 Tesla alternative

Source: BMW.com.au

Renault ZOE

French carmaker Renault is bringing its EV supermini to Australia this year. Renault will fit the ZOE with a 41 kWh battery, giving a real-world driving range of 280 km. The small car accelerates quite leisurely for an electric vehicle, taking a lengthy 13.5 seconds from 0 - 100kph. Flat out, the ZOE will hit 135 kph and it should receive a five-star ANCAP rating when launched. Features include smartphone connectivity and a 7” touchscreen with TomTom navigation as standard.

Owners of the ZOE will be able to rapid charge the battery from flat to 80% in 30 minutes and top up the energy pack in 3-4 hours at home. Interestingly, the ZOE was originally launched back in 2012, after engineers carried out hot-weather testing in Australia. The expected retail price is $45,000.

Renault Zoe is a Tesla Alternative

Source: Renault.com.au

Hyundai Ioniq

One of Australia's biggest selling automotive brands, Hyundai, plans to launch an EV model here this year. The Hyundai Ioniq is a 5-seater hatchback, that appears pretty conventional externally but the car receives widely positive reviews. Hyundai claims a range of 300kms, with a top speed of 165kph.

The Ioniq ships with an array of extra safety features like emergency braking and blind-spot detection. Its battery carries a lifetime warranty and 4.5-hour recharge time on a domestic plug. Local engineers from Hyundai Australia will no doubt tweak the suspension and ride to suit Aussie roads better. Speculation puts the Ioniq retail price at around $50,000.

Compare the Tesla finance options below

Data indicated here is updated regularly
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Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Loans.com.au - New and Dealer Used Car Loan
Loans.com.au - New and Dealer Used Car Loan
From 4.67% (fixed)
5.22%
$5,000
3 to 5 years
$400
$0
You'll receive a fixed rate from 4.67% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment. Settle the loan before 30 November 2021 and enter the draw to win a $1,000 fuel gift voucher. T&Cs apply.
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More Info
NRMA New Car Loan
NRMA New Car Loan
From 4.99% (fixed)
5.69%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 4.99% p. a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
Go to site
More Info
IMB New Car Loan
IMB New Car Loan
4.99% (fixed)
5.34%
$2,000
1 to 7 years
$275.12 ($250 Application fee + $25.12 PPS registration fee)
$0
You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one that's up to two years old.
Go to site
More Info
NRMA Used Car Loan
NRMA Used Car Loan
From 6.49% (fixed)
7.19%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 6.49% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
Go to site
More Info
Wisr Secured Car Loan
Wisr Secured Car Loan
From 5.19% (fixed)
5.46%
$5,000
3 to 7 years
$195 (Includes PPSR registration and private sale fee, if applicable)
$0
You'll receive a personalised interest rate from 5.19% p.a. to 17.69% p.a. based on your risk profile
A flexible car loan from $5,000 - $50,000 with personalised rates and rewards for strong credit customers.

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More Info
Plenti Car Loan
Plenti Car Loan
From 4.89% (fixed)
5.44%
$2,000
3 to 7 years
from $249 to $799
$0
You'll receive a fixed rate from 4.89% p.a.
Borrow up to $100,000 with a Plenti Car Loan and benefit from no early repayment or exit fees.
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More Info
Credit Concierge Car Loan
Credit Concierge Car Loan
From 3.99% (fixed)
5.08%
$10,000
1 to 7 years
$350
$8.50
You'll receive a fixed rate of 3.99% p.a. with a comparison rate of 5.08% p.a.
Get access to over 20 providers to fund a new or used car.

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More Info
Stratton Finance New Car Loan
Stratton Finance New Car Loan
From 4.05% (fixed)
5.63%
$10,000
3 to 7 years
$700
$8.25
You'll receive a fixed rate from 4.05% p.a. depending on the lender you are approved with
Apply for up to $250,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
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More Info
NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed
From 9.99% (fixed)
10.88%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% (13.56% comparison rate) or less. See Comparison rate warning in (i) above.
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More Info
SocietyOne Car Loan
SocietyOne Car Loan
From 6.99% (fixed)
6.99%
$5,000
2 to 5 years
from 0% to 5% of the total loan amount
$0
You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
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More Info
Driva Car Loan
Driva Car Loan
From 3.95% (fixed)
5.1%
$2,000
1 to 7 years
$295 (Varies by lender, starting from $295)
$10
You'll receive a fixed rate from 3.95% p.a.
Borrow up to $250,000 with loan terms from 1 to 7 years. Get access to a range of lenders.
Go to site
More Info
Symple Loans Personal Loan
Symple Loans Personal Loan
From 5.75% (variable)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10
You'll receive a personalised interest rate from 5.75% p.a. to 25.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
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More Info
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Hyundai Ioniq
Pictures: Shutterstock

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Car Loan Offers

Important Information*
Logo for IMB New Car Loan
IMB New Car Loan

You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

More info
Logo for Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 4.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

More info
Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.

More info
Logo for NRMA New Car Loan
NRMA New Car Loan

You'll receive a fixed rate of 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.

More info

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