fbpx Should I Buy an Electric Car? - Euphoria Finance

Should I Buy an Electric Car?

Posted on 5th January 2021
Should I Buy an Electric Car?

As we become more aware and responsible for our environmental impact, the Government plans to ban the sale of new petrol and diesel cars from 2035. The question is, are charging spots accessible enough, are electric cars genuinely greener than other cars, and do the savings outweigh the initial price?

These are questions you may be asking before you commit to buying an electric car. With more choice each year from many brands, there’s an electric car suit for your every need. This guide should answer most of your questions and concerns.

Charging and driving long distances

Charging technology is improving all the time, and it is now easy to charge your car overnight at home as you would your phone. Electric cars fully charge in around an hour. Electric cars have sat nav built in with charging stations easy to find, easing range anxiety.

The savings will slightly depend on the rate for electricity in your area and your chosen electricity provider. That said, it is around £5 for a full charge – which adds up very quickly and mile per mile, is about half as cheap as conventional cars.

Speed compared to petrol and diesel cars

It is a common misconception that electric cars will not be as quick. Electric motors do not need revs for power, so you’ll be the first past the line at traffic lights, and newer drivers won’t stop and start as they perfect their clutch control.

Of course, different car brands and models have different power, but electric cars certainly feel fast and smooth whatever model you prefer and can afford.

Environmental benefits

Everyone knows that electric cars are supposed to be better for the environment. As time goes on, electric cars will become more accessible and affordable, but they will also increasingly use renewable energy sources like wind turbines to generate power.

The UK is creating electricity through sustainable methods more each year, whereas conventional cars will always burn fossil fuels, which will inevitably run out. Experts say we have ten years before the negative effects on the climate become irreversible.

In simple terms, electricity is getting cleaner the more the Government and corporations invest in renewable energy, and they are more likely to do so if there is demand for electric cars. In short, by buying an electric car, you are donating to a greener car industry.

Are electric cars cheaper?

Because you won’t be stopping off at the petrol station every few weeks, your running costs will be significantly less. For city goers, electric cars are also safe from low emission zone charges in central London. However, you will not make your money back for at least a few years.

Further, as electric cars are typically made with less moving parts, there are less potential maintenance problems to pay for and repair. This could make up more than the difference of the initial price of an electric car, as long as you have the funds available to buy now.

If you don’t, you can get electric cars on finance to make it manageable. What’s more, car dealers can get Government grants for £3,000 towards the initial cost.

If you drive a company car, you might still need persuading that now is the time to buy an electric car. So, from April 2020, you’ll pay no Benefit-In-Kind (BIK) tax at all with an electric car. As this is the largest cost for company car drivers, you’ll still save thousands.

What are the cons of electric cars?

For people that have a high daily mileage, electric cars might not be suitable. In winter, the range will be nearly halved and long distances might be cut short. You can’t fill a jerry can with electricity, so this could be far from ideal.

Consider whether you’ll need to do longer trips often. If so, do you have a second car and is arranging a second rental car is viable for you? If not, a hybrid option with conventional engine an electric motor might be a good emission-free option.

If you rely on street parking at home, then it might be impractical to own an electric car too – as most people charge theirs on their driveway. Relying on public charging stations can get complicated and costly, outweighing many of the benefits.

Even though electric cars are greener, all cars put a strain on the climate. The production of electric cars produces a fair number of harmful emissions. Therefore, if an electric car does not fit your lifestyle, don’t lose sleep about it.

The move towards greener transport is a slow process and needs to be a wider lifestyle change for noticeable difference. It is likely that public transport will play a key role in this and this needs to be invested in by Government. Although, every little helps.

Rather than buying a brand-new car, why not plan a car finance deal with us and break up the cost? We have over 50,000 cars available for you to drive home or get delivered nationally.


Just a Call Away!

Speak to our team today... collect your dream car tomorrow!
Call us