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EVs, Petrol Panic, And The True Cost Of Going Electric · That Home Loan Hub

• 0:10
  SPEAKER_01: Electrical vehicles is the hot topic of demands.
• 0:15
  SPEAKER_01: Hello, James.
• 0:16
  SPEAKER_00: Hello, huh?
• 0:17
  SPEAKER_01: EVs and solar panels.
• 0:20
  SPEAKER_00: Awesome.
• 0:20
  SPEAKER_01: We talked a lot in the previous episodes how people can take control of their finances.
• 0:25
  SPEAKER_01: And I believe one of the ways you can take back that control is actually by maybe purchasing an EV.
• 0:33
  SPEAKER_00: Yeah.
• 0:34
  SPEAKER_01: Right?
• 0:34
  SPEAKER_01: A lot of people thought the same.
• 0:35
  SPEAKER_01: I'll give you some statistics.
• 0:37
  SPEAKER_01: Yep.
• 0:37
  SPEAKER_01: Do you want to know how many cars were registered in New Zealand before the conflict?
• 0:43
  SPEAKER_00: Well, that's a that's a really good question.
• 0:46
  SPEAKER_00: I don't know much about EVs, but I was just say a few hundred.
• 0:49
  SPEAKER_01: Per week.
• 0:50
  SPEAKER_00: Per week.
• 0:50
  SPEAKER_00: Per week.
• 0:51
  SPEAKER_01: So about 300, 350 per week that um were registered.
• 0:54
  SPEAKER_01: So I assume you know it's people buying cars, it's people transferring the ownership of the cars, etc.
• 0:59
  SPEAKER_01: etc.
• 1:00
  SPEAKER_01: As the conflict escalated, what do you think the numbers now?
• 1:03
  SPEAKER_00: I think it would be certainly would have gone up.
• 1:06
  SPEAKER_01: So oh five hundred fifteen hundred cars per week.
• 1:13
  SPEAKER_00: That's crazy, eh?
• 1:15
  SPEAKER_00: That is absolutely that is like what what do we call that?
• 1:18
  SPEAKER_00: What is that?
• 1:19
  SPEAKER_00: Five times Yeah, five times more.
• 1:22
  SPEAKER_01: So a lot of people have started panic buying.
• 1:26
  SPEAKER_01: A lot of EVs went up in price, secondhand cars that weren't even moving at all, they've gone up in price because as people realize crap, we're gonna run out of petrol soon.
• 1:37
  SPEAKER_01: You know, how are we gonna get from point A to point B is by future proving and buying an EV.
• 1:44
  SPEAKER_01: But my my issue was that is again, it might be a temporary conflict and you're going out, you're putting extra expense right now for something that you may not need to use down the track.
• 1:57
  SPEAKER_00: Short-term thinking again, eh?
• 1:58
  SPEAKER_01: Yeah, and I mean, I'm still on the fence about EVs.
• 2:01
  SPEAKER_01: I don't know how long those batteries last, I don't know what's the you know, maintenance on those cars.
• 2:07
  SPEAKER_01: I believe there are you need special tires for those cars.
• 2:10
  SPEAKER_01: It's not just the standard tires, so all the costs that behind that's hidden, but also those road user charges.
• 2:17
  SPEAKER_00: Yep.
• 2:17
  SPEAKER_00: Well, they've got to get the the tax from those drivers for the roads somehow.
• 2:22
  SPEAKER_00: Yeah, if they're not paying petrol tax or diesel tax.
• 2:25
  SPEAKER_00: Yeah.
• 2:25
  SPEAKER_00: Uh so look, there's a cost, you know, we've got you you gotta look at the whole story, right?
• 2:32
  SPEAKER_00: Yeah, not just uh it depending on your stance.
• 2:36
  SPEAKER_00: If you're looking at it from an environmental lens, you know, there's a whole lot of stuff in a EV, such as those batteries, that are not so good for the environment.
• 2:47
  SPEAKER_00: Do you know?
• 2:47
  SPEAKER_01: So having said that, we'll just we just send them into the space, right?
• 2:52
  SPEAKER_01: We'll be fine.
• 2:53
  SPEAKER_00: I think we used to send them to China or something, I don't know.
• 2:56
  SPEAKER_01: Um I believe they've found a way to look after those batteries in a way that's um I've actually invested in the company that recycles batteries.
• 3:03
  SPEAKER_01: Uh-huh.
• 3:04
  SPEAKER_00: So so I'm hoping that'll pay off 10-15 years down the track.
• 3:08
  SPEAKER_00: At the moment it's not really paying off.
• 3:10
  SPEAKER_00: But with the EVs, you know, I've never been a really big supporter of EVs, but uh you're beginning to see now, okay.
• 3:17
  SPEAKER_00: You're seeing a lot more of them on the roads.
• 3:19
  SPEAKER_00: Um, now that the technology is getting better, it's probably becoming an option to do, to look into that.
• 3:27
  SPEAKER_00: But I wouldn't be rushing out to doing do it right now.
• 3:30
  SPEAKER_00: What I would wait for is wait for this thing to blow over that's happening now.
• 3:36
  SPEAKER_00: I don't know how long it's gonna take, and then EV prices will come back down again, oil prices will come back down again, and you'll probably pick up those EVs at a cheaper price.
• 3:47
  SPEAKER_00: That's the way I would look at it.
• 3:48
  SPEAKER_01: My issue is EVs is there is not many affordable EVs and seven seaters.
• 3:54
  SPEAKER_01: And I need a seven seater.
• 3:56
  SPEAKER_01: I've got four children, and often my mother's with me.
• 3:58
  SPEAKER_01: You know, often we go to places, I pick up kids' friends.
• 4:01
  SPEAKER_01: I'm usually that mum that picks everyone, drops everyone.
• 4:04
  SPEAKER_01: So I need a seven-seater, and the seven seaters that I looked at, they're all like the house deposit price.
• 4:10
  SPEAKER_01: Yeah, just 100k, 150k, you know.
• 4:12
  SPEAKER_01: Like, I I'm not spending that.
• 4:14
  SPEAKER_00: You might just sell one of your children, yeah.
• 4:16
  SPEAKER_01: And then downgrade two or five seats.
• 4:18
  SPEAKER_00: Yeah, that's true, win-win.
• 4:19
  SPEAKER_00: Um I can see, and as your kids become teenagers, you're gonna need that bigger car because what we've learned, even though I've only got two kids, is as the kids get bigger, the stuff that they take to places, or their sporting equipment or whatever, becomes huge.
• 4:35
  SPEAKER_00: And so, yeah, you you are gonna need a seven-seater.
• 4:39
  SPEAKER_01: Yeah.
• 4:40
  SPEAKER_01: So um, so there's not many affordable seven-seaters.
• 4:42
  SPEAKER_01: I know there's a big company now, BYD, you know, they they have one.
• 4:46
  SPEAKER_00: That was one of the things that was interesting at the at the conference.
• 4:50
  SPEAKER_00: BYD, fastest growing uh car company in the world.
• 4:54
  SPEAKER_00: It's like the third biggest after Toyota and another one.
• 4:57
  SPEAKER_00: I can't remember what the other one was.
• 4:59
  SPEAKER_01: Haven't heard of them at all, right?
• 5:00
  SPEAKER_01: And then they're all of a sudden.
• 5:02
  SPEAKER_00: And you know who's not even in the top ten?
• 5:04
  SPEAKER_00: Who?
• 5:04
  SPEAKER_00: Tesla.
• 5:05
  SPEAKER_00: Wow.
• 5:06
  SPEAKER_00: Not in not even in the top ten by volume.
• 5:09
  SPEAKER_01: This episode is not sponsored by BYD.
• 5:12
  SPEAKER_01: But if BYD would like to sponsor this episode, we welcome you.
• 5:16
  SPEAKER_00: We'd like we'd uh we'd take a new car.
• 5:18
  SPEAKER_01: Yeah, we'll take a new car.
• 5:20
  SPEAKER_01: We'll take a new car for a spin, you know, and give you our review.
• 5:22
  SPEAKER_00: Seven seater for you, and I'd be happy with uh just a ordinary sedan.
• 5:27
  SPEAKER_01: Yeah.
• 5:28
  SPEAKER_01: So it's interesting to see that, and also a lot of clients approaching us for the solar panels, right?
• 5:33
  SPEAKER_01: Because it's gotta work together in that package.
• 5:36
  SPEAKER_01: You sort of buy the car, you buy the charging unit, you buy the solar panel, and then you're off grid.
• 5:41
  SPEAKER_00: Yeah.
• 5:42
  SPEAKER_01: Then you don't need to worry about the fuel prices, the gas prices, et cetera, et cetera.
• 5:46
  SPEAKER_00: Actually, I've got a friend that's in getting into this business.
• 5:49
  SPEAKER_00: I should I'll find out more about what he's doing, a cycling friend down in Manawatu.
• 5:54
  SPEAKER_00: I I believe this is exactly what he's getting into, is this type of business.
• 5:58
  SPEAKER_00: And I'm I'll share it with us next time we talk, just so I've got my facts right.
• 6:03
  SPEAKER_00: But I might be able to put it, I'll post it online what he's doing.
• 6:07
  SPEAKER_00: But yeah, that's it's the way.
• 6:08
  SPEAKER_00: But what I would be saying, yeah, is yeah, let's not rush out and make that huge investment.
• 6:13
  SPEAKER_01: Yeah.
• 6:14
  SPEAKER_01: But if you do want to, there are actually really cool loans out there, you know.
• 6:18
  SPEAKER_01: We've got banks that we're working with, and you can get 0% loan, you can get 1% loan to sponsor, to sponsor.
• 6:26
  SPEAKER_00: So I could get I could get a 1% loan for a an EV an EV car.
• 6:30
  SPEAKER_00: Absolutely, you can.
• 6:31
  SPEAKER_00: So is there a limit to the amount of?
• 6:33
  SPEAKER_00: Yeah.
• 6:36
  SPEAKER_00: Okay, I'm gonna do this because I kind of need a car.
• 6:38
  SPEAKER_01: Yeah, well, it's up to 80 80k that you can get with 1%.
• 6:43
  SPEAKER_01: So uh and that can be stretched to 30 years, but that 1% is only valid for like three years, I think, three to four years.
• 6:50
  SPEAKER_01: Okay.
• 6:50
  SPEAKER_01: So you've got to make sure you pay off that car quite quick, otherwise then it goes back to normal home loan rates.
• 6:56
  SPEAKER_00: And obviously, we're gonna help you with with that and make sure you you know get a a good a good deal.
• 7:02
  SPEAKER_00: Yeah, and understand the options.
• 7:03
  SPEAKER_00: Yeah, absolutely.
• 7:05
  SPEAKER_01: So that applies to EVs and solids and hot water heat pump.
• 7:10
  SPEAKER_01: I just upgraded mine um from gas because gas was getting quite ridiculous.
• 7:14
  SPEAKER_01: So I've upgraded uh I removed gas hot water.
• 7:17
  SPEAKER_01: Cool.
• 7:17
  SPEAKER_00: And I put heat water hot and that would cut that means you don't have to pay the the gas uh for the gas contract every month.
• 7:24
  SPEAKER_01: Yeah.
• 7:25
  SPEAKER_00: Uh because you didn't have gas bottles, right?
• 7:26
  SPEAKER_00: You've I had gas bottles.
• 7:28
  SPEAKER_00: Okay.
• 7:28
  SPEAKER_01: So I had to pay for the hire age of those gas bottles plus the gas.
• 7:31
  SPEAKER_01: So that was costing us over three, four hundred dollars a month just on gas.
• 7:35
  SPEAKER_01: Yeah.
• 7:36
  SPEAKER_01: Plus power.
• 7:37
  SPEAKER_00: Okay, so it's time to like we said in the previous episode, let's look at our bank statements and see what are those things that we can actually take advantage of that you can make changes for the medium to long term to to lower your costs.
• 7:48
  SPEAKER_00: The solar panels is an you know, that's that's the way of the future, right?
• 7:53
  SPEAKER_00: That's what I noticed when we flew down to Christchurch the other day.
• 7:56
  SPEAKER_00: Did you see that massive uh solar panel farm?
• 7:59
  SPEAKER_01: Yeah.
• 7:59
  SPEAKER_00: I don't know if we've you know, that's really cool.
• 8:02
  SPEAKER_01: That's really cool.
• 8:03
  SPEAKER_01: So I think New Zealand has an amazing opportunity to get back on track, to be one of those sustainable countries, you know, to lead the way.
• 8:10
  SPEAKER_01: We used to lead the way, and somehow we've fallen off that wagon a little bit.
• 8:14
  SPEAKER_01: So we just really need to get back onto that.
• 8:16
  SPEAKER_00: We still have a really in terms of where we are in in uh what do we call that?
• 8:20
  SPEAKER_00: Renewable energy.
• 8:21
  SPEAKER_00: We're quite far advanced, but where's the growth in that renewable energy going to come from for all the electricity that's gonna be needed as we electrify everything?
• 8:32
  SPEAKER_00: Yeah, uh, we don't have those options.
• 8:34
  SPEAKER_00: I don't know if we're doing that quick enough, but yeah, solar panels, EVs.
• 8:39
  SPEAKER_01: I think we could be doing better.
• 8:40
  SPEAKER_01: Like I just came back from Sydney, and as you say, you know, as you're flying in, you can see all those houses that have all the solar panels, the solar farms, people driving EVs.
• 8:49
  SPEAKER_01: And to be honest, my heart goes out to Uber drivers at the moment.
• 8:52
  SPEAKER_01: The Uber drivers that don't have an EV.
• 8:55
  SPEAKER_00: Yeah.
• 8:55
  SPEAKER_01: And they charge.
• 8:56
  SPEAKER_01: And when I when I was ordering an Uber, I could see the price.
• 9:00
  SPEAKER_01: There was the same price for an Uber normal and Uber electric.
• 9:04
  SPEAKER_01: It was the same price, but it would cost the Uber petrol probably more money to run his car than the electric dude.
• 9:11
  SPEAKER_01: Because the electric guy said that he could run 150Ks a day without recharge.
• 9:17
  SPEAKER_00: Yeah.
• 9:17
  SPEAKER_01: So yeah, those could we do get a few Uber driver clients and um I've got a really cool theory about mortgage advisors versus Uber drivers and what they have in common.
• 9:26
  SPEAKER_01: Can we do that in the next episode?
• 9:27
  SPEAKER_00: Yep, sounds cool.
• 9:28
  SPEAKER_01: All right, we'll do that next episode.
• 9:29
  SPEAKER_01: Guys, stay tuned.
• 9:30
  SPEAKER_01: Thank you so much for listening in.
• 9:31
  SPEAKER_01: If you do want that Eevee or solar panel, get in touch with us.
• 9:34
  SPEAKER_01: We will set you right.
• 9:36
  SPEAKER_00: Absolutely.
• 9:37
  SPEAKER_01: See ya.