Articles by Stephen Corby

American giant GM, which is in the midst of launching Cadillac as an EV-only brand in Australia, is determined to take on China, and win, when it comes to battery technology, announcing a new way of “layering” its batteries, which can reduce the number of cells by as much as 75 per cent, reducing both weight and cost.

Financing a used car in Australia often comes with more strings attached than financing a new one and usually a higher interest rate to match. That’s not to say you can’t get a good deal on a used car loan, just that you need to be prepared for lenders to reduce their exposure by tacking on an extra premium to cover their risks.And really, you’re all in this together. You might well be buying used rather than new to save some money, but in doing that you’re obviously accepting a level of risk yourself.Used car loans usually run anywhere from one to seven years, so you can stretch your repayments well past the point where the car still smells like someone else’s dog. A longer loan term does mean smaller monthly repayments, but it also means paying a lot more in interest over time (you up the back, prepare for a math lesson).For instance, borrowing $10,000 at 6.5 per cent over three years will set you back about $306 a month, with $1003 in total interest. Stretch it to seven years and your monthly repayment will drop to $148, but you'll pay more than double the interest ($2398).That’s because interest has more time to accumulate the longer the loan drags on, even if the rate stays the same. The devil is in the retail detail with insurance companies.Current used car loan interest rates average between six per cent and 10 per cent, depending largely on your credit history and the age and condition of the vehicle you’re buying.Unsecured personal loans tend to have even higher rates (around 10 per cent), while financing through a credit card can attract rates as high as 20 per cent (I’ll let you do the interest math yourself there, but here’s a tip, it hurts).As tempting as it might be, it's important to remember the lowest advertised interest rate might not be the best deal overall, as it could involve hidden fees or restrictive conditions, like balloon payments (unlike real balloons, these are not fun and hit with a more physical bang).The best way to cover yourself is to refer to the comparison rate, which includes most fees and charges, for an accurate cost assessment.Here’s a breakdown of popular used car financing options.Secured car loans from banks or credit unions usually have the most favourable terms for used car financing. Because these loans use the vehicle as collateral, lenders feel more secure and usually provide better interest rates.However, there are often age and condition restrictions for eligible vehicles. Most lenders want a car that will still be less than 12 to 15 years old by the loan's end, and many cap it at seven years old. That’s partly because many vehicles are out of warranty by then, which increases the risk of major repairs during the loan term.While many loans allow early repayments to reduce interest costs, some fixed-rate options come with exit fees. And finally, if the car is written off or stolen, you’re still liable for any remaining loan balance, even if insurance doesn’t fully cover it.Just let that sink in for a moment - paying interest on a loan for a car you don’t even drive any more.Dealer finance can seem like a no-brainer due to the convenience and quicker approval times. However, that convenience can come with a markup. Dealer-arranged loans can have variable interest rates, which are sometimes competitive with bank loans but often higher, due to dealer margins or hidden fees.Always compare dealer finance carefully against independent lending options and check the comparison rate to avoid unexpected costs. This is why we have an internet.Unsecured personal loans can be a real lifesaver when your dream car is too old, too cheap, or listed as a private sale. These loans don’t use the car as collateral, which means you duck all the age and value limits, and you can also spend the money however you like.But the cost of that extra freedom is that interest rates for unsecured loans typically sit between seven per cent and 12 per cent, and can climb much higher for lower-credit borrowers.Lenders will also scrutinise your credit history and income more closely, since they can’t fall back on selling the car if things go pear-shaped. Make sure you compare comparison rates, not just advertised interest, to get the full picture of what you’ll owe.Using a credit card for vehicle financing is usually a terrible idea unless you have extraordinary financial discipline, but under very specific conditions, it can work.Most credit cards carry interest rates of 18–22 per cent, but some offer zero per cent introductory rates for a short period. If you close the balance before that window closes and avoid any credit card surcharges on repayments, you’re in the clear.But if you have any leftover balance once the introductory period ends, it’ll incur interest backdated to day one, and you’ll be paying through the nose.Leasing – usually via a novated lease with your employer – can be a tax-savvy way to finance a used car. Payments are deducted pre-tax, which can reduce your taxable income, cut GST on running costs, and even exempt you from FBT if you're leasing a qualifying electric vehicle (EV).That said, most providers won’t touch a car older than seven to 10 years at lease start (or 12–15 years by lease end). And while bundled servicing, rego and insurance can simplify budgeting, you’re often locked into approved providers and may face higher costs for maintaining older cars. Plus, if you leave your job, you’ll need to take over the lease, transfer it or sell the car.Ultimately, your best second-hand car finance option and repayment plan will come down to several factors, starting with your credit score. Stronger credit opens the door to better rates, particularly with secured loans.It’s also important to consider your budget and cash flow realistically. Shorter loan terms cost less overall but require higher monthly payments, while longer terms are easier monthly but costlier in total. The vehicle’s age could also limit your options to unsecured personal loans or dealer finance.If you want to improve your chance of approval, start by checking your credit report and fixing any errors before applying. A saved deposit is another great tool to have in your negotiation arsenal, and can lead to lower interest rates.You can also shop around and get pre-approvals from multiple lenders, so you’ve got some bargaining power. Finally, if your credit score is a bit shaky, bringing a co-signer or guarantor could strengthen your application.This material has been prepared for information purposes only. It should not be taken as constituting professional advice and you should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances.

Before I talk about how Super Cruise — the hands-off self-driving system that’s being used by hundreds of thousands of Americans every day in GM and Cadillac vehicles — almost killed me, I’d like to say how impressed I was by its work.

If you’re a man - particularly a married one with kids and decades between you and your single days - hearing “bachelor pad” might be ever so slightly bittersweet, but there’s also every chance those words make you remember a time in your life when you were so footloose and fancy free you were basically Kevin Bacon.

Cadillac has created a hand-made luxury EV with proportions that it admitted “look impossible to achieve”, a price tag that can run well north of $1 million, and an Active Roll Control system it claims can deliver “zero degrees of roll, which is better than any sports car out there”.

It’s a chilling thought, but what if the tin-foil-hat wearing China conspiracy churners are right?

How long does a Tesla battery last? According to official Tesla-sourced data, Tesla batteries lose between 12 and 15 per cent of their capacity, on average, after approximately 321,868km (200,000 miles in American speak) of usage.If this data is correct, the average Australian driver won’t need to consider replacing their Tesla battery until 26 years into ownership, because the national average driver travels a touch over 12,000km a year.I’m going to go out on a limb and suggest people who buy Teslas, or electric vehicles in general, travel fewer kilometres than the average driver.Tesla battery lifespan is the kind of thing EV shoppers consider carefully, because they’ve all owned Apple iPhones, or Microsoft laptops, and noticed that battery life seems definitively finite. It’s important to realise, of course, that the batteries in an EV are vastly bigger.Elon Musk is aware, of course, that Tesla battery life is something buyers worry about, and it provides an eight-year/192,000km warranty with the purchase of all Australian-delivered vehicles, except the rear-wheel-drive Model 3 and Model Y vehicles, which come with a similar eight-year/160,000km warranty.The terms of these warranties are as follows; if the Tesla battery drops below 70 per cent capacity in less than the aforementioned time period or distance, Tesla covers the cost of a replacement battery.Replacement batteries for a Tesla can cost anywhere from $15,000 up to $20,000 across all models.A study in April 2024 by British motoring insurance company NimbleFins - which examined nine years of Tesla battery lifetime data - found the batteries should deteriorate by around one per cent of their range per year.In terms of how you can look after your battery, there are multiple factors that affect Tesla battery lifespan.For any electric vehicle, you want to avoid fully charging the battery to 100 pre cent regularly, to preserve maximum battery capacity.Canadian lithium-ion battery researcher Jeff Dahn claims that, treated properly and kept in the right “voltage window”, a Tesla battery can stay fully operational for 100 years, or 1.6 million kilometres.Dr Adam Best (just call him Dr Best), Principal Battery Researcher at our own CSIRO, claims that, if owners employ the appropriate maintenance techniques to prolong battery health, Tesla batteries can achieve a “pretty impressive life cycle”.But what are these maintenance techniques? Dr Best suggests you try to keep the charge level always between 20 per cent and 80 per cent, as opposed to running the battery from zero to 100 and back again, which will “help to extend the life of your EV”, regardless of battery chemistry and composition.Teslas predominantly run on lithium iron phosphate (LFP) or nickel cobalt aluminium (NCA) chemically composed batteries, while other brands like Polestar use nickel manganese cobalt (NMC).Both NCA and NMC batteries thrive in conditions where they aren’t being charged to maximum capacity and drained to empty.So if you are a responsible and battery-conscious EV driver, who can you know if your EV is responding well to your gentle treatment? What are the signs that your battery is dying, or that it’s functioning properly?Other than the most obvious indicator of declining battery capacity - getting less mileage out of each charge - other signs that your EV’s battery might be suffering are slower charging times, a change in the driving sensation (sluggishness, lack of responsiveness), strange smells or noises while charging or driving, and, of course, the Tesla multimedia system telling you that your battery may be in decline.In terms of real-world results, it’s also worth pointing to a test conducted by a Tesla Model S 70D owner, Branden Flasch. Branden's vehicle had reportedly travelled 234,964km when he put his Tesla battery to the test, and the results were very impressive.The Model S in question was purchased in 2015, and its owner charged it to 99 per cent before the test, and then drove it until the batteries were completely depleted, measuring its kWh usage to check the battery's depletion.The reported results have the Model S using 58.5kWh, roughly 83 per cent of their original 70kWh capacity.

The difference between Mercedes classes is methodical and distinctly German, devised to distinguish Mercedes car models by size and purpose.

Why are MG cars so cheap? Obviously if you asked someone at MG they’d answer with “they’re not cheap, they’re affordable, and amazing value”, but the most obvious answer is - because they’re made in China.This may come as a shock to many readers, who might assume MG is still the same storied old brand from England that used to make sexy, sporty little roadsters and not much else (it was founded in Oxford, UK, in 1924).MG is the same 'brand', in a literal sense, and you’ll often see Union Jacks and words like 'heritage' associated with its vehicles, but the fact is it’s very much a Chinese concern these days.Back in 2005, Chinese manufacturer Nanjing Automobile Group bought the rights to the MG badge, along with the rest of MG Rover Group (Rover was another UK marque that did not survive and if you'd driven its cars, you'd be grateful), and then, in 2007, Nanjing was swallowed whole by SAIC Motor - a Shanghai-based car manufacturer that is, in turn, owned by the Chinese state, and which owns MG to this day.Just pause on that for a moment. Imagine if the Australian government was in charge of building cars locally, if it had bought Ford and Holden for example. Motor vehicles built by committee, car companies run by governments that can change their priorities - between EV and burning oil for example - every few years. Just, wow.Fortunately, China’s communist government does not change and the almost limitless financial backing the Chinese state can give to the companies it owns and runs - often with the stated goal of competing with and beating the western world - is a significant advantage for a brand like MG/SAIC.To be clear, when the Chinese bought MG it wasn’t exactly a going concern, but they obviously saw value in the badge, as opposed to selling cars called things like “Yangwang” or “Build Your Dreams”.In 2011, the first new MG model in more than 15 years was launched; the MG 6, and it was notionally built, or partly built, in the UK at MG’s Longbridge plant, but also partly in China.This allowed the brand to continue proclaiming its British-ness but in 2016 the company shut down its operation in England and all MGs since then have been designed and built in China.Cars built in China are cheaper partly due to the effect of economies of scale and SAIC is quite huge; indeed it is the largest single-marque exporter in China.In 2024, it sold 707,000 vehicles in total. For comparison, the entire new car market in Australia in a typical year is around 1.2 million.It’s also a lot cheaper to build cars in China because the wages for the people that do it are amongst the lowest in the world (although not as low as Mexico and India).Workers in an SAIC factory are reportedly paid as little as $3.60 to $6.60 an hour, which means the labour costs of building an MG are going to be far, far lower than those going into a vehicle built in the US, Europe or Japan.When it comes to EVs, which MG, like most Chinese car companies, has a heavy focus on, Chinese manufacturers also have a huge price advantage because China controls so much of the global EV battery market (and batteries are the most expensive part of an EV), so it can access them at lower rates.According to the International Energy Agency, China is projected to hold more than half of the global EV battery market by 2030. More than 70 per cent of all the EV batteries that have ever been made were produced in China.It should thus come as no surprise that China dominates the global EV market in general, with a 62 per cent market share.According to Nikkei Asia, China also holds a significant share in the production of key battery components, such as cathodes, anodes, electrolytes and separators.In Australia, MG has taken advantage of its ability to produce and import cars that are cheaper, in a wholesale sense, than competitors from established brands in this country by adopting an aggressive pricing strategy.It has promoted a lot of 'dynamic pricing' or drive-away pricing and you will often see or hear advertising suggesting it is offering the cheapest vehicle in a particular segment.At the time of publishing, the cheapest new MG car you can buy is an MG ZST 1.5 CVT Vibe, with a drive-away price of just $23,888.MG offers sharply-priced vehicles across many segments from hatches to small and mid-sized SUVs, and even a new electric roadster, the $115,000 Cyberster, which is clearly designed to bring to mind the MG sports cars of old. It’s also clearly not a cheap MG car.MG also offers hybrid and EV power plants. According to Compare the Market, “MG cars in Australia generally have a lower resale value compared to more established brands like Toyota or Mazda”.This is an important factor to keep in mind when considering how cheap they might seem in terms of upfront costs.In terms of safety, MG is not an entirely maximum five-star rated brand. The MG HS (petrol) and MG 4 Electric have five-star ANCAP ratings, but the MG ZS hybrid only gets four stars, the MG 3 has three stars and the MG 5 has zero stars (safety system upgrades are expected “early in 2025”).So, in summary, MG cars are cheap because they are made in China, one of the cheapest places to build cars, and EVs in particular, in the world, and they are thus able to be aggressively priced in Australia.

What is the cheapest car to insure? Putting aside the hundreds of factors your insurance company will consider before giving you a price, the cheapest car to insure in Australia is the compact city car, the Kia Picanto. Overall, for cheap insurance, Kia seems to be the brand with the most offerings.Other cheap new cars to insure in Australia, according to financial comparison site Canstar, include the Fiat 500, Suzuki Ignis, Toyota Yaris, Mazda 2 and another Kia, the Rio.If you think that list means you can make a direct correlation between the cost of the car and the cost of insuring it, give yourself a gold star, because that is certainly one of the most important factors - how much it will cost to replace your new vehicle if it’s stolen or written off.The less expensive the car, the less it costs the insurer to replace, and thus the lower your premiums.Other contenders for the cars with the cheapest insurance include the similarly small, and affordable, Toyota Corolla, Kia Stonic and Suzuki Swift, as well as the small city SUV Hyundai Venue.When it comes to working out what the cheapest cars on insurance are it’s worth keeping in mind there are many, many factors an insurer will assess before deciding on the premium it is willing to offer to you.The average cost of car insurance in Australia is $929 per policy, according to financial services regulator, APRA. This is based on 18.13 million "active risks" covered and $16.8 billion in gross written premiums from September 2023 to September 2024.While we can talk about average insurance prices, they will vary wildly depending on these factors, which are used to determine the risk of insuring a particular car, and its particular owner.These include the cost of repairs and replacement; and not just the obvious one, like the sticker price of the car, but how hard or easy it is to get parts for that vehicle, and how much those parts will cost. Cars with higher repair costs will have higher insurance premiums.How likely it is that a particular car will be stolen is another important fact, and insurers have lists of data and statistics on this, going right down to the granular detail of which coloured cars are most stolen.Yes, even the colour of paint you choose can effect our insurance premium, based on past data about the behaviour of car thieves. White and yellow coloured cars can attract lower premiums than black or darker coloured ones because they are less prone to being stolen.As a bonus, brighter coloured cars are also less likely to be involved in accidents, because they’re easier to see, adding another factor to the colour of money when it comes to car insurance.Where you live will also effect your premiums, for obvious reasons. If you’re in a crime-prone suburb the danger of your vehicle being stolen is higher. Similarly, where you park the car will effect your premiums; if it’s kept in a locked garage it’s going to be harder to steal, and thus cheaper to insure.As anyone who has a teenager on P plates can tell you, the age and experience of the person who will be driving the car can have an enormous effect on insurance costs, doubling or even tripling them in some cases if you want to insure a car for a young, inexperience driver, also known as “an accident waiting to happen”.Even if you are older and more experienced, car companies will look at your insurance history when considering your quote, and the size of your excess. The longer you have gone with no accidents or claims of any kind, the cheaper your insurance will be.Sadly, even the gender of the nominated driver or drivers is also a factor. Actuaries and insurance companies deal in raw numbers and those numbers show that men are more likely to be involved in car accidents than women. Young men in particular.The people you list on your policy are going to effect the price.Speaking of accidents, the safety rating of your car is also a factor, according to Canstar. If it’s fixed with the modern systems that might help you avoid having a crash, that can lower your premiums, too.According to Canstar, these were the Top 10 cheapest new cars to insure in 2024 in Australia (they sourced their figures from Youi Insurance’s own make/model/insurance data).