Can you save money when you purchase an electric vehicle?
The initial cost to purchase an electric vehicle may be more expensive than a traditional fuel powered model predominantly because of the cost of the battery, however there are government grants available to help make the purchase price a little more palatable.
Once you have the car at home, you will immediately notice cost benefits from a day to day running point of view. Why?
- Electric costs could be as little as 4p / mile verus 12-15p per mile for a petrol or diesel car.
- Maintenance costs tend to be less as there are fewer component parts that can fail and less elements to change e.g. no oil.
- Tax benefits dependent on the CO2 emissions of the vehicle.
- Congestion chargers – zero emission vehicles are exempt.
Will I pay VED on an electric car?
Zero emission vehicles, are exempt from Vehicle Excise Duty tax (road tax) in the UK. However, if your vehicle has a list price of more than £40,000, you have to pay a £310 a year supplement for five years from the second time the vehicle is taxed.
Will an electric car cost more to service and repair?
Since electric cars have fewer moving parts than a petrol or diesel engine, there is less to maintain and repair. However, an EV will still require regular servicing according to the manufacturer’s guidelines. The biggest outlay will be a replacement battery, but most manufacturers are offering an 8 year or 100,000mile warranty, so this should not be a concern for some time.
Are electric cars more reliable?
Based on the above, an electric vehicle will tend to be more reliable than a fuel driven car.
What is the range of an electric car?
Technology continues to evolve at an incredible pace and the total range will vary from model to model, but most EVs today will offer anything between 130 to 300 miles. This will only get better in the future.
What is the range of a hybrid car?
The electric only mode on a hybrid vehicle will vary dependent on each model but you are likely to get anything from 20 to 100 miles.
What affects the range of an electric vehicle?
Many factors can affect the mileage range – how you drive the car, the temperature, whether you have the heating on and or the air conditioning on.
What is the battery life of an electric car?
There is a view that car batteries will last 10 – 20 years before they need to be replaced, however most manufacturers are offering anything between 5 to 8 years or up to 100,000 miles warranty.
Can I charge my EV at home?
If you are planning to purchase an electric / hybrid vehicle it is advisable to invest in a home charge unit. The cost to install one can be up to £1000 however the Office for Low Emission Vehicles (OLEV) grant will reduce the upfront cost up to £350.
If you live in an apartment, you could always speak to your landlord to see if they would consider installing a charging unit in the parking area. You may still have to cover some of the cost, but if there are other people in the building who wish to use it then you could reduce the investment across all of you.
Is it easy to get a home charging unit installed?
It is easy to install a home charging unit. There are several companies available to help you with this, but we have partnered with BP Chargemaster who will help you every step of the way. It will cost you from £599 and comes with a 3 year warranty. The unit is smart enabled with the smartcharge app to help you manage your charging unit and the support team will help you with your OLEV grant application.
How long does it take to charge an EV?
It can take anything between 30 minutes to 8 hours as it all depends on the battery size and the speed of the charging point.
If I buy my car on finance – can I still get the government grant?
Yes, the grant will be deducted from the total price which will in turn reduce your monthly payments.
How do I claim a government grant?
Your dealer will be able to do this on your behalf and can talk you through it in more detail.