The WeMoney finance app has introduced a new tool that lets Aussies use their own motoring spending patterns to discover how much they’ll save if they switch from petrol and diesel to electric cars.

From September 15, the new Bowser to Battery feature on the company’s app will compare the cost of running a motorist’s current vehicle with the cost of keeping their EV of choice on the road. Drivers simply become a WeMoney member, enter their registration details or the model of their car and their driving details, then choose the electric vehicle that has caught their eye.

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Their current car’s costs are broken down into fuel, insurance, servicing, repairs, tyres and even parking. When it comes to the EV, WeMoney’s new feature allows users to adjust a raft of categories including kilometres driven, the charging mix they would like to use, how long they want to keep their new car and even electricity tariffs. 

WeMoney says its member data shows Aussies who are switching away from internal combustion vehicles are making huge savings. For example, those who spend an average of $48.49 on EV charging per month are saving $166.39 compared to those who fill up with diesel – a stunning cost reduction of 77.4 per cent.

“Australians are switching to electric faster than anyone predicted, and most are making the biggest purchase of the decade on a guess. Bowser to Battery replaces the guess with your own numbers,” said WeMoney founder and CEO Dan Jovevski.

The new feature comes soon after VFACTS figures for August showed that battery-electric vehicles out-sold petrol, diesel and hybrid cars in Australia for the first time. 

New car sales data from the Federal Chamber of Automotive Industries and the Electric Vehicle Council revealed that Australians bought 27,078 new electric vehicles in August, a 24.9 per cent share of the overall new car market, which totalled 108,760. Sales of petrol-powered vehicles amounted to 25,824 (23.7 per cent), while diesel accounted for 23,608 sales (21.7 per cent). Hybrids (18,662) and plug-in hybrids (10,591) made up the balance.