Many places globally are behind the curve in buying electric vehicles. For example, recent studies show that 25% of European cars sold have electric outlets and 1/8th are full EV vehicles. Yet, now that more car makers have entered the market, we have several great choices for EV finance.

Tesla has been a leader in the EV market, but its supremacy faces intense challenges from manufacturers like Hyundai. Budgeting has long been a concern for new EV buyers. But two automakers provide plenty of value for your dollar.

So if you’re looking at new car finance, you will want to read this review of Tesla Model 3 vs. Hyundai IONIQ 5. Here’s a cost and performance analysis to help you decide on your next EV finance.

Tesla Model 3 Cost

Almost as soon as the 2022 Tesla 3 got introduced to the Australian market, wait times for delivery increased. But if you are willing to wait six to nine months for Australia’s best-selling EV from last year, here’s what you can expect to receive.

The base price for the entry-level Tesla Model 3 has increased by $3000 before road taxes. The $65,500 starting Tesla Model 3 cost delivers the basic rear-wheel-drive model. Upgrades to the long-range AWD version or the performance AWD Tesla Model 3 take the base price to $76,200 and $91,672, respectively.

Tesla Model 3 Performance

Balance and agility perfectly harmonize with the battery mounted on the bottom of the chassis. As a result, it’s difficult to determine the power of the Tesla Model 3. However, reports suggest the batteries produced a combined 480 hp and will climb from 0 -100km in 6.1 seconds.

All models come equipped with semi-autonomous driving , and the GPS is fast and responsive to touch.

Review of Tesla Model 3

Of course, Tesla is famous for its sleek interiors and giant touchscreens. Yet, the car also gets an Australian auto industry rating of 5 stars for safety. The EV has many standard safety features, including lane assist, blind-spot alerts, and an auto braking system.

The base model comes equipped with a battery range of 566 kilometers. However, a recent report indicated that all Tesla 3 battery types had been reduced by 2% to 3.5% due to upgrades in the touchscreen computer performance. One feature Tesla owners love the surprise system upgrade notifications they get on their phones.

As the only feature on the dashboard other than the steering wheel, the appearance of the interior is, at first, unsettling. Yet, once you get accustomed to the minimalist look, the full-length glass roof and contoured seating make for a luxurious atmosphere. In addition, the massive screen lets passengers play various downloaded Xbox games, adding fun to long road trips.

There is no key fob to keep in your pocket because the entire Tesla Model 3 system operates from your paired mobile device. Heated seats and a wireless phone charger provide comfort and connectivity. The front boot has ample room for personal belongings, and the 45-liter rear compartment provides plenty of room for luggage or groceries.

Hyundai IONIQ 5 Cost

Similar in starting price to the Tesla Model 3, the Hyundai IONIQ 5 became available to Australians with only one trim package in 2021. The base cost for 2022 begins at $71,900 but comes loaded with features that would be extra on other EV models.

Although you can only choose between light and dark color themes, the Hyundai IONIQ 5 has eco-treated leather seats and dual-zone climate control.

Hyundai IONIQ 5 Performance

The Hyundai IONIQ 5 might look like a hatchback or small SUV, but appearances are deceiving. The single battery mounted in the rear produces 168 hp. An available upgrade to AWD will produce 225 hp with a 0 -100 rating of 5.1 seconds.

Enormous 20-inch wheels give the IONIQ 5 an impressive stance and superior handling in weather conditions. Yet the most impressive aspect of this model is the lightning-charging capability.

An 800v charger will gain 80% capacity in only 18 minutes. So if you’re in a hurry, you can get over 100 kilometers of charge in only 5 minutes. Suitable of all, the Hyundai IONIQ5 charging port has an LED display of how much charge is already in the battery. In addition, Hyundai IONIQ 5 has a unique feature of a 1600kg towing capacity.

Review of Hyundai IONIQ 5

The first thing you will notice about the Hyundai IONQ 5 interior is that it resembles a more conventional car. There are controls on the steering wheel, and the 12.3-inch display integrates with the dashboard, which still has climate controls.

Hyundai provides a wireless charger for one phone and plenty of 120v outlets to charge almost any device, including ports for small appliances. In addition, the audio system performs with Apple Carplay and Android Auto connectivity.

IONIQ 5 also features heated and cooled leather seats, a heated steering wheel, and a panoramic sunroof. The rear compartment allows for a massive 52 liters of cargo, and more space is available with fold-down rear seats.

The comfort and accessories built into the base model Hyundai IONIQ 5 cost make this car an extraordinary value. Packed with standard features and fast charging capability, Hyundai IONIQ finance is an affordable option to get your EV on the road.

Tesla Model 3 vs. Hyundai IONIQ 5

A review of Tesla Model 3 indicates the leader in EV technology is staying ahead of the curve. Many choose Tesla for its EV experience and unique system features. Superior handling and computer features not found in other brands make this car attractive.

Yet, price changes and new competitors have influenced many EV buyers to look elsewhere. However, the review of Hyundai IONIQ 5 shows that family functionality doesn’t need to sacrifice quality and fun.

EV Finance Options

The Hyundai IONIQ 5 cost is relatively competitive with Tesla Model 3. And although you still must carry a key fob, the performance and carrying capacity of IONIQ 5 is very desirable. In addition, the fast charging feature gets you rolling with less waiting.

In addition, Hyundai has created an SUV feel with range and agility to match Tesla Model 3. Our review of Hyundai IONIQ 5 reveals it is one excellent alternative.

Both EV finance options are manageable for a quality family five-seater. Yet, if you want to learn more about new car finance for these models or others, contact us anytime for cost comparisons.