Can the VinFast VF 3 Replace Your Motorcycle?

The VinFast VF 3 makes its debut in Vietnam. This compact electric car is positioned to compete directly with the Wuling Hongguang Mini EV from China. With a price range of VND 235-315 million, will it be a viable alternative to two-wheelers in the country?

On May 7, VinFast unveiled its VF 3 electric car in Vietnam. This compact vehicle is designed to fit into the mini-car segment and goes head-to-head with the Wuling Hongguang Mini EV from China. The VF 3 is now available for purchase, with prices ranging from VND 235 million to VND 315 million. While the price is slightly higher than a motorcycle, the VF 3 offers several advantages that could make it a compelling alternative to two-wheelers in Vietnam.

Not Quite “Mini,” But Versatile

According to the manufacturer, the VF 3 measures 3,190 mm in length, 1,679 mm in width, and 1,622 mm in height, with a wheelbase of 2,075 mm. While it is significantly smaller than other segments in the market, it still appears more substantial when compared to the Wuling MiniEV or a motorcycle.

The VF 3 boasts a large, boxy SUV-inspired design.

In the context of Vietnam, especially in the inner cities, narrow alleys and small passageways are common. This could be a potential drawback for the VF 3 when compared to motorcycles, as its dimensions are not ideal for maneuvering through tight spaces. However, its size becomes an advantage when considering family use. The VF 3 is designed to seat four, including the driver, and offers a comfortable amount of space for small groups.

Spacious cabin accommodates 2-4 people comfortably. Image credit: VinFast.

One of its standout features is its all-weather capability, a significant advantage over two-wheelers. With a ground clearance of 191 mm, this electric SUV can navigate various terrains without the worry of scraping the undercarriage, a common concern with sedans and hatchbacks.

Affordable Monthly Payments for Young Buyers

The VinFast website lists the VF 3’s price as VND 235 million for the battery leasing option and VND 315 million for the battery purchasing option. After June 15, the prices will increase to VND 240 million and VND 322 million, respectively. In addition to the listed price, buyers should also consider the cost of leasing and battery deposits if they opt for the leasing program. VinFast offers a VND 15 million deposit along with three different leasing plans depending on the distance traveled.

Distance Traveled (km)	Leasing Cost
Below 1,500	VND 900,000/month
1,500 – 2,500	VND 1,200,000/month
Above 2,500	VND 2,000,000/month

For instance, if you drive less than 1,500 km per month, the leasing cost is VND 900,000. This increases to VND 1,200,000 if you drive between 1,500 and 2,500 km, and the highest leasing cost of VND 2,000,000 applies if you drive more than 2,500 km per month.

VinFast also offers attractive financing options, allowing buyers to borrow up to 80% of the vehicle’s value over eight years. For the battery leasing option priced at VND 235 million, buyers can choose to pay a down payment of VND 70.5 million and then make monthly payments of approximately VND 3.13 million, which covers the principal, interest, and battery leasing cost. This amount is lower than the overall segment in the market and is well within the budget of young buyers. The down payment is comparable to the price of a high-end motorcycle, and the monthly payments are reasonable for those currently owning a motorcycle.

VinFast VF 3. Image credit: VinFast.

While the VF 3 is more expensive than a standard motorcycle, it is important to consider the cost of ownership. A Honda Vision currently costs between VND 32-37 million, while a Honda Airblade ranges from VND 42-58 million. The price difference and operating costs may be a burden for those with limited financial means.

However, the VF 3 boasts low operating costs, comparable to those of a motorcycle. According to a survey by Tri Thức – Znews, the charging cost at VinFast stations is VND 3,848 per kWh. For those leasing the battery and driving around 1,500 km per month, the maximum operating cost is approximately VND 510,000 per month.

As a car, the VF 3 incurs higher parking fees than a motorcycle, ranging from VND 1.5 to 2 million per month.

Overall, the VF 3’s potential to replace motorcycles depends on the preferences and needs of individual users. In terms of versatility, family-friendly design, and operating costs, it is an optimal choice.

With low-interest rates on installment plans and balanced operating costs for electric cars, ranging from VND 2 to 3 million per month, the dream of owning a four-wheeler instead of a two-wheeler may be within reach for many Vietnamese consumers.