There has never been a better time than the present to get an electric car, with more and more models becoming available and the technology evolving all the time. Along with this, there are lots of incentives available to encourage people to make the switch to driving an electric car by making it cheaper and easier to do so. And with fuel prices on the rise, an increasing number of drivers are being pushed towards making the switch to electric. By 2030, the production of new petrol and diesel cars will be banned, meaning that in the next ten years, electric cars are set to make up the majority of vehicles on the road. If you are thinking of making the switch, here are some of the main things to consider.
Choosing the Right Electric Car
Whether you are going to buy or lease your electric car, just like when buying any vehicle, making the right choice for you is crucial. Spend some time researching different makes and models to find out which is the best fit for your lifestyle and needs. With an increasing number of electric cars becoming available on the market, picking the best one for you has become a bigger decision. Compared to a few years ago when it was a fairly easy decision with not many options to choose from, the EV market is booming and thereβs something for everybody from lots of different popular car brands.
How Much Are Electric Cars to Buy?
A new electric car can be purchased for around Β£17,000, if youβre buying a smaller model such as the Smart EQ ForTwo. On the other hand, more premium EV models can set you back upwards of Β£100k. If you are buying an electric car that costs up to Β£35k, it will be eligible for the plug-in car grant, where buyers can get Β£2500 off. This is usually applied at the dealership and reflected in the asking price of the car.
Leasing an Electric Car
Electric car leasing has become an increasing popular option for drivers who want access to an electric vehicle in the UK. Learn more about why you should consider leasing and the main benefits. One of the biggest reasons why electric car leasing has become more commonplace is that itβs easier to upgrade your car every few years, and there is no need to worry about depreciation. Instead of buying a car that will lose value over time, you spend a set amount each month to lease a car and can trade it in for a new one after a few years or pay a fee to purchase it.
Used and Second-Hand Electric Cars
There are few second-hand and used electric cars available at the moment as they have not been on the market for long enough to build up a market that is as large as that of used internal combustion engine cars. However, with an increasing number of people making the decision to purchase electric cars, itβs likely that in the future, more and more second-hand options will become available as people sell and upgrade their EVs. Along with this, as electric cars become more popular, there is also a growing market of nearly new options, allowing you to save money when buying or leasing by going for an electric car that is not brand new but only has a small mileage.
Running Costs for Your Electric Car
Once you have decided that you are going to get an EV, whether youβre looking at leasing, buying brand new, or buying a nearly new or used vehicle, the running cost is perhaps one of the things that you are most interested in. Although the cost to purchase an EV or lease one on a monthly basis is typically more compared to a traditional combustion engine car, the good news is that you will save a significant amount of money on running costs.
Due to their safety ratings and features, they are often cheaper to insure, and they are eligible for Β£0 road tax, although you do still need to go through the process of taxing the car. Less maintenance means paying less for routine jobs, and since EVs run on electric you can save a huge amount of money by not buying fuel. If you want to save further money and be even kinder to the environment, you may even want to consider using renewable energy sources to charge your car at home, such as having solar panels installed.
If you want an electric car, then you can either buy one brand new, pay outright or buy on finance, lease the car, or choose from the limited range of second-hand, used, and nearly new options available in much the same way as you would a traditional petrol or diesel car.