5 Things To Think About Before You Buy An Electric Car

Electric cars are becoming an increasingly common sight on British roads, with sales of new plug-in vehicles rising by 70% compared to 2020 and 600 new charging points being added across the UK every month.

While there seems little doubt that petrol and diesel cars will soon be a thing of the past, electric cars come with their own unique set of requirements and limitations. If you would like to join the ranks of EV drivers and make your contribution to cleaner, greener transport, there are a few important questions you need to ask yourself before you bring home your new vehicle.

How Will An EV Affect Your Electricity Bills?

With energy prices spiking sharply in recent months, the risk of soaring electricity bills should be a serious factor in your decision-making process as you consider whether or not to go electric.

Based on the price cap running from October to December 2022, it is estimated that it will cost about £52 to charge a 100kWh EV from 0-100%. Obviously, the exact sum will vary depending on the battery size of your vehicle, and the type of charger you use.

How Will You Charge It?

To help you cut down your charging times, it’s recommended that you invest in a home wallbox charger. You can hire a specialist company with expertise in installing EV charging points to make sure it’s correctly fitted and ready to charge in no time.

Bear in mind that, in order to have a home wallbox charger, you need to have an off-road parking space.

Can It Go The Distance?

These days, the majority of EVs offer a substantial range. However, when you are looking at different models with a prospect to buy, it’s worth comparing and contrasting how far they can take you without needing to be charged, as you don’t want to end up stranded on your commute or on holiday.

It’s also worth bearing in mind that not all manufacturer estimates are accurate, as various factors - such as how fast you drive and to what extent you use the climate control – can diminish the distance it can travel.

Is It Better To Lease Or Buy?

Leasing an EV is proving to be an increasingly popular option these days, for several reasons.

For one thing, electric cars can command a hefty sum if you buy them new.  Many people may not have the capital required to purchase one outright, particularly as the UK continues to struggle in the midst of a cost of living crisis. However, a number of consumers will have the finances to afford a monthly payment plan, making this the ideal option for anyone who still wants an EV but cannot gather enough funds to buy one.

Other good incentives for leasing rather than purchasing an EV include the flexibility – after all, if you aren’t keen on a car, you can simply replace it at the end of the contract – and the fact that there is no risk of depreciation, as you won’t have to worry about selling the vehicle on. 

Can I Afford The Insurance?

Finally, there’s the question of insurance. Whether you opt to buy an EV outright or sign a rental contract, you will still have to foot the insurance bill.

Recent research indicates that, on average, insuring an electric car is more expensive than insuring petrol or diesel motors. Factor this into your considerations and make sure that your budget can stretch to cover those higher costs before you take the plunge and acquire an electric vehicle.