EV Sales Surge. Go battery electric, PHEV with best rates on BYD Car Loans

BYD car loans at highly competitive interest rates are available through Jade Finance for buyers looking to maximise savings with new battery and PHEV vehicles. As seen in the latest May new car sales data, EV sales have surged as car owners look for ways to combat high fuel prices and the risk of fuel availability issues. Manufacturers are supporting demand as seen in a large BYD shipment which recently arrived for the Australian market.

Car owners can realise significant savings over the life of an EV. But with higher prices on these models compared with petrol and diesel comparative models, the initial outlay has been seen as a major barrier to take-up for many buyers. Even the affordable pricing of brands such as BYD, can be higher than an equivalent petrol model.

Securing vehicle finance at the best possible rate can, not only reduce the monthly loan payment, but reduce the overall cost of the vehicle purchase. When comparing car loan rates using a Car Finance Calculator, as well as noting the monthly payment, also note the total interest. Most calculators will display this figure, a total cost of the loan which includes the amount borrowed and the interest may also be displayed. This is what the vehicle is costing you with financing and clearly shows the importance of securing the best possible rates.

Consider your vehicle and loan options with our update on BYD car loans and which models are are most popular with buyers.

EVs Electrify New Car Sales

With a growing model selection, trying to decide which EV to buy can be as challenging as deciding on a petrol model. The latest sales data from the FCAI may assist buyers with information on the top selling brands and individual vehicle models.

EV sales have slowly been climbing but as fuel prices have rocketed, so have sales of battery, hybrids and PHEV models. The FCAI reported that battery models accounted for 20% of new car sales in May. Add in the hybrids and PHEVs and that percentage rises to 46%.

As a first for the monthly data, Tesla Model Y was the best-selling vehicle for the month and BYD was the second top-selling brand, behind Toyota.

The Chinese brand has been building sales in the Australian market for some time and has shown its support for the market with an impressive shipment arrival. The company-owned car carrying ship, BYD Zengzhou, arrived in the Port of Melbourne recently with 5,000 new BYDs for Australian buyers. The company apparently has several purpose-built vessels to transport their vehicles to key markets to streamline the supply chain.

The company branding on the ship was an impressive sight and attracted attention. Reportedly, the company said that the large shipment to Australia was a direct response to the rising demand created by fuel prices and the risk of fuel availability.

With attractive pricing and clearly good availability, BYD may be one brand to put on your list when considering an EV or PHEV.

Options for BYD Car Loans

From recent sales, this Chinese manufacturer has clearly struck a chord with Australian buyers. There are models to suit both business and private car owners from the smallest model, the Atto 1, up to the workhorse Shark 6 ute.

Financing EVs uses the same credit products as diesel and petrol models. For buyers of new cars for personal use the Secured Car Loan is the most widely used credit product. With most buyers not required to use other assets as loan collateral, fixed rates, terms and repayments, this type of loan is straightforward and attracts best rates on new vehicles.

Businesses can choose from Chattel Mortgage, Commercial Hire Purchase and Lease to finance BYD vehicles. For employees seeking to Salary Sacrifice the purchase of an EV, we have access to lenders providing Novated Leasing.

EV buyers may also decide to invest in their own home-based charging solutions. This type of equipment may be financed separated with an Unsecured Personal Loan or smaller devices that are ordered with the vehicle, may be included in the car loan.

Use our Car Loan Calculator with the rate applicable to the loan you require to compare our best rates and repayment estimates on different EV makes and models.

Get Best Rates on BYD Car Loans

Ensure you optimise the value of pricing on BYDs and the lifecycle savings to be realised by securing your best possible car loan interest rate. Rates vary across the lending market with lenders highly competitive on new vehicle finance. We assist buyers by covering off on our wide range of lenders to ensure the lowest possible rate is secured. Minimising both the monthly outgoings and the total outlay for the vehicle.

With demand high for low emission models, buyers may need to be ready with finance confirmed to driveaway with their vehicle choice. Apply for pre-approved BYD car loans and be ready to take delivery of one of the new vehicles when they arrive in your local dealership.

For the best rates on BYD car loans contact Jade Finance.

DISCLAIMER: NO LIABILITY IS ACCEPTED IF ERRORS OR MISREPRESENTATIONS ARE FOUND IN THIS ARTICLE. THE ARTICLE IS PREPARED AND PRESENTED FOR GENERAL INFORMATIVE PURPOSES AND IS NOT INTENDED TO BE THE SOLE SOURCE OF INFORMATION FOR MAKING FINANCIAL DECISIONS. THOSE REQUIRING GUIDANCE AND ADVICE SHOULD CONSULT A FINANCIAL ADVISOR.