Is an Electric Car Right for Me?
No-one can have escaped the meteoric rise in popularity of electric vehicles in recent years.
Charging points ae popping up everywhere and everyone seems to be jumping on the electric bandwagon.
You might think it’s worth an investment in light of rising prices of diesel and petrol, the environmental advantages or you might simply have a fascination with new technology.
But don’t rush in! There is a lot more to consider.
Ultimately, deciding whether an electric vehicle is right for you comes down to the kind of driving you do every day and where you live. First, we need to explore exactly what an EV is and what the advantages and disadvantages are.
What is an EV?
There are essentially two different types of electric vehicle. A 100 per cent battery powered vehicle that produces no emissions and has a range of between 80 and 300 miles on a single charge. A plug-in hybrid, which has a battery and an engine to take over when the battery charge runs out. There are other variants within these two broad categories.
How much do they cost?
Electric vehicles generally cost more than your average car. They can be bought or leased – people often lease them because the battery life is around 10 years and if it needs replacing, the cost is essentially the same as writing off your car. Buying second hand is possible, but you run the risk of taking on a deteriorating battery.
If they cost more, how can they save me money?
The biggest savings come though fuel and maintenance. If you have a charger fitted at home, you pay for the electric, or you may pay to use a charger at a supermarket or service station. Some places have free chargers. Either way the cost is minimal compared to fuel. But they take longer to charge up than it does to fill a tank of petrol so journey planning is essential. Service and maintenance costs are low but you still have to have a valid MoT. Insurance costs are generally higher but zero emission cars are exempt from road tax.
Why is there a long waiting list?
Supply of electric vehicles is being held up as demand has risen massively. The global supply of lithium-ion batteries is also struggling to keep up with the increased demand.
How much does it cost to install an electric car charger at home?
Installing a home charger can be anywhere between about £800 and £1,500.
Are they easier to drive?
It’s down to personal preference, but an electric vehicle is much quieter and acceleration is smoother.
What is the range of an EV?
Range has increased in more modern cars and can be anywhere between 80 and 300 miles.
So… does an electric car suit you?
EVs are best suited to people that do a short commute or short daily journeys. This is so they can charge up in between. They may not be ideal for those with longer journeys to drive each day as charging can be time-consuming.
If you live in a house with no off-road parking it may also be an issue. You’re going to need somewhere to charge it overnight.
Of course, budget is also a concern. While the savings are undoubtedly significant, the initial outlay may be too much for some.
If you need any advice, pop in and see us. We’ll give you honest impartial advice.
Learn more about how we can help by visiting www.find-and-finance.co.uk, calling 0333 006 3825 or emailing firstname.lastname@example.org.