Should I Buy A New Electric Vehicle?
Electric vehicles (EVs) were once seen as a novelty, but now they are becoming more and more popular amongst drivers in the UK and internationally. According to recent findings released by the Office of National Statistics (ONS), over half of the younger drivers in the UK are looking to switch from their petrol powered vehicles to buying an EV in the next decade. This surge in demand could be attributed to the UK Government’s plan to phase out the sale of diesel and petrol cars by 2030, making EVs a more attractive option for those considering buying a new electric vehicle.
In the following sections, we will delve into the advantages of buying an EV to help you decide whether it is the right choice of vehicle for you. With the goal of encouraging more sustainable practices, there are numerous incentives for purchasing an EV, including the reduction in greenhouse gas emissions and lower carbon footprints. On top of that, EVs are cheaper to run over time and require less maintenance compared to their petrol powered counterparts. Additionally, many people enjoy the unique driving experience provided by electric-powered vehicles, such as the smooth and quiet acceleration and the lack of exhaust fumes.
Overall, EVs are a fantastic option for those interested in making more environmentally-conscious choices and seeking a more cost-effective and low-maintenance mode of transportation. With the encouraging shift towards electric-powered vehicles, it is worth considering whether an EV is the right option for you when purchasing your next car.
1. Buying An EV – Environmental Factors
One of the most frequently cited reasons why individuals opt for electric vehicles (EVs) is their environmentally friendly reputation. Unlike conventional gas fuelled cars that require petrol or diesel to operate, EVs rely on an electric battery pack to function. Using technology that is similar to that of the contemporary smartphone, albeit on a much larger scale, EV batteries do not expel any toxic substances into the air, thereby making them a much greener alternative. For those with a keen sense of responsibility regarding their carbon footprint, purchasing an EV is an ideal solution.
2. Buying An EV – No Need To Pay Tax
A notable advantage that comes with the use of electric vehicles (EVs) is their release of zero tailpipe emissions. This has a ripple effect on the vehicle’s taxation, as per UK laws. Specifically, any vehicle that runs solely on electricity, whether through an electric storage battery or an external source that is not connected to a power source when the vehicle is in motion, is exempt from vehicle tax. This exemption translates to lower costs for EV drivers in terms of tax annually.
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3. Buying An EV – They’re The Future
Earlier it was stated that the Government has decided to put a ban on selling inter combustion engine (ICE) vehicles in 2030. This means that purchasing an electric vehicle (EV) as your next mode of transportation can benefit you in the long run and keep you ahead of the changing regulations. As electric cars do not operate using fossil fuels, they are eco-friendly and produce zero emissions, which makes them a preferred option for sustainable transportation.
By buying an EV, you will not only save money on fuel costs, but also contribute towards creating a cleaner and healthier environment. Additionally, the advancements in EV technology have enabled them to offer comparable speed, range and functionality as traditional vehicles, so the transition to an EV will not be a compromise on performance. Therefore, purchasing an electric vehicle now will futureproof your mode of transport and ensure that you are in compliance with the changing regulations.
4. Buying An EV – Infrastructure Now In Place
Prospective car buyers who are considering purchasing electric vehicles, or EVs, often express concern regarding two key factors: the limited range that these vehicles can travel on a single charge, and the lack of robust charging infrastructure available to drivers. Manufacturers including Tesla, Dacia, Mercedes, and more continue to pour resources into research and development to address these concerns. Thanks to cutting-edge battery technology, the latest electric battery packs are able to power vehicles for significantly greater distances than ever before.
In addition to ongoing efforts to improve EV battery range, the UK has made significant strides toward implementing a solid charging infrastructure that can support the needs of drivers across the country. The government has even introduced grants aimed at helping homeowners install charge points at home. With the increasing availability of charging stations throughout the UK, the impact of limited range will continue to decrease. Already, EV charging options are available at many locations including major retailers, supermarkets, and business parks, with some businesses even offering free charging for customers. Moving forward, it is clear that automakers and governments alike will continue to invest in strategies aimed at expanding and enhancing the overall accessibility and convenience of electric vehicles.
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5. Buying An EV – A Nicer Driving Experience
Electric vehicles (EVs) have become increasingly popular in recent years, and for good reason. Here are some reasons why EVs offer a better driving experience than petrol vehicles:
- Smooth and instant acceleration: One of the most noticeable differences between driving an EV and a petrol vehicle is the electric vehicle’s smooth and instant acceleration. EVs don’t need to rev up an engine or change gears, so there’s no lag time between when you press the pedal and when the car starts moving. The acceleration in an EV is quick, smooth, and responsive, making for a more enjoyable driving experience.
- Quiet operation: EVs are almost silent in operation, unlike petrol vehicles which generate a lot of noise from their engines and exhaust systems. An EV’s electric motor makes a faint whine, but it’s barely noticeable, especially when compared to the noise of a petrol engine. A quiet cabin provides a relaxing, peaceful experience while driving.
- Low centre of gravity: The heavy battery pack in an EV is located beneath the car’s cabin, giving it a lower centre of gravity. This results in more stable handling and better road grip on turns, which contributes significantly to a better driving experience.
- No vibrations: Electric motors are much simpler than internal combustion engines, with fewer moving parts. As a result, their operation generates fewer vibrations, leading to a more comfortable ride for passengers.
- Regenerative braking: EVs can recover some energy back to the battery when the driver slows the car using regenerative braking. This process helps recharge the battery and, at the same time, reduce wear on the brakes, reducing maintenance costs.
In summary, EVs offer several distinct advantages over petrol vehicles when it comes to the driving experience. They provide a smooth and instant acceleration, quiet operation, low centre of gravity, no vibrations, and are easy to maintain compared to petrol-powered cars. These qualities make the experience of driving an EV more pleasant, comfortable, and enjoyable, leading many people to switch to electric vehicles as their primary means of transportation.
6. Buying An EV – It Has Cheaper Running Costs
Electric vehicles (EVs) provide an array of environmental benefits that are unparalleled, resulting from their ability to emit zero emissions from the tailpipe during operation. Additionally, these types of cars offer considerable cost savings when it comes to their running costs. Notably, they do not require taxing, making them a cheaper option than their petrol or diesel counterparts in terms of keeping them on the road. Although EVs are less expensive to fuel compared to ICE models, their internal components are less and less complicated than their fossil fuel-based counterparts. Consequently, EVs have lower maintenance costs, as fewer mechanical parts mean that there is less wear and tear, and less need for regular servicing.
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7. Buying An EV – You’ll Receive A Better Resale Value
Electric vehicles (EVs) have a better resale value than traditional gasoline-powered cars for several reasons. Firstly, EVs have a longer lifespan due to their simpler mechanical construction and fewer parts that can wear out or break down, resulting in a lower rate of depreciation.
Moreover, electric vehicles have lower maintenance costs as they do not require regular oil changes, tune-ups, or other engine-related maintenance, resulting in a lower total cost of ownership for EV owners. This also means that the resale value of an EV remains high as potential buyers see that there is less maintenance and repair cost that needs to be accounted for.
Another factor contributing to the higher resale value of electric vehicles is the fast-paced technological advancements being made in electric vehicle technology. As EV technology continues to mature and improve, older models are quickly becoming obsolete. This means that newer models are likely to have better performance, longer ranges, and more advanced features than older models, driving up the resale value of newer models.
In addition, the increasing demand for EVs is driving up their resale value. As more people switch to electric vehicles, the demand for used EVs increases, resulting in higher resale values.
Lastly, government incentives and tax credits are also playing a role in driving up the resale value of electric vehicles. With government incentives such as tax credits and rebates, it is more affordable for consumers to purchase a new EV, driving up demand and increasing resale value.
Overall, the better resale value of electric vehicles can be attributed to their longer lifespan, lower maintenance costs, technological advancements, increasing demand, and government incentives.
8. Buying An EV – You Will Get A Cheaper Insurance Policy
Gone are the days when electric vehicles (EVs) were known for their steep insurance premiums. In fact, today, insurance policies covering EVs are often more affordable than those for cars with internal combustion engines. This trend is supported by figures released by the Association of British Insurers (ABI), which reveal that the cost of insuring EVs decreased in 2020, as more insurance providers entered the market to cater to the increasing number of electric cars on UK roads. According to data from the Society of Motor Manufacturers & Traders (SMMT), EV uptake doubled in 2021, leading to the launch of specialist insurance policies by several new insurers.
For those purchasing a car and concerned about their standard motor insurance policy, Guaranteed Asset Protection (GAP) insurance is an option worth considering. Standard policies usually pay out the market value of a car in the event of a total loss, but due to rapid depreciation, this amount may not be sufficient to purchase a comparable replacement vehicle. By contrast, GAP insurance will make up for any shortfall between the payout received from the insurer and the cost of buying a brand-new EV.
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In conclusion, purchasing an electric vehicle (EV) comes with numerous advantages, including its eco-friendliness, cost savings, and future-proofing benefits. With the UK government planning to phase out petrol and diesel cars by 2030, now is the right time to make the switch to an EV to ensure compliance with the changing regulations. Thanks to significant efforts to improve the infrastructure, charging an EV has become much more convenient, making it a viable option for those with longer commutes. Furthermore, the running costs of EVs are notably lower than those of internal combustion engine (ICE) vehicles, with cheaper insurance and maintenance costs. Overall, purchasing an EV is a smart choice for those looking for a cost-effective and sustainable mode of transport.
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Frequently Asked Questions (FAQs)
Q. How far can I go on a full charge?
The range of an electric vehicle depends on the battery size and driving conditions. Check the manufacturer’s specifications to see the estimated range.
Q. Can I charge it at home?
Yes, most electric vehicles come with a charging cord that you can plug into a standard wall outlet. You can also install a home charging station for faster charging.
Q. How long does it take to charge?
The time it takes to charge an electric vehicle depends on the battery size and charging speed. A full charge can take anywhere from 30 minutes to several hours.
Q. How much does it cost to charge?
The cost of charging depends on the electricity rates in your area and the size of the battery. It’s generally cheaper than filling up your tank at a petrol station.
Q. What kind of maintenance does it require?
Electric vehicles require less maintenance than petrol vehicles, but it’s important to keep up with regular maintenance such as tire rotations, brake inspections, and coolant flushes.
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Q. What incentives are available?
There are government incentives available for purchasing an electric vehicle, as well as rebates for installing a home charging station.
Q. Can I take it on a road trip?
Yes, electric vehicles can go on road trips but it’s important to plan your route ahead of time to make sure there are charging stations along the way.
Q. What is the warranty on the battery and motor?
The battery and motor typically come with a warranty that covers defects or failure within a certain number of years or miles.
Q. Does it come with roadside assistance?
Many electric vehicle manufacturers offer roadside assistance as part of the purchase or lease agreement.
Q. Do I need GAP insurance for an electric vehicle?
Yes, if you are financing or leasing an electric vehicle, GAP insurance is recommended to cover the difference between what you owe on the vehicle and its value in case of theft or total loss.
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