What To Consider Before Buying an EV

(Collaborative post by another author) If all goes according to plan, the sale of new petrol and diesel vehicles in the UK will be banned by 2030. Within the five years that follow, hybrids will also cease to enter the market. This means that every car and van sold after 2035 will be fully electric. By then, current concerns such as charging infrastructure and range anxiety may no longer exist. 

free stock image from Pixabay of an electric car charging

However, you don’t need to wait a full decade to enjoy the advantages of owning an electric car. The local EV market is one of the largest in Europe, with Statista reporting an impressive 140% growth in year-on-year sales. It’s safe to say that the upward trajectory of electric cars isn’t changing any time soon, and more models are appearing every month. 

On the other hand, buying an EV in the UK is still a relatively complex process. You may need to think about tax breaks, charging and range among other factors. Here’s what you should consider before plugging in. 

When and What

Today’s electric car market is buzzing with options. If all you need is a compact city car to whizz around town, you can get into a used Renault Zoe for less than £5,000 - or spend an extra 10k to own a new Skoda CITIGO e iV hatchback. The more stylish Fiat 500e can be bought for around £20k, while you’ll need twice as much for the Tesla Model 3. 

At the higher end are the likes of the Porsche Taycan, which starts at £85,000. There’s also the growing family of electric Mercedes models. But whether you’re hoping to score a MINI Electric for less than £25,000 or you’re ready to drop £2 million on the Lotus Evija, you might find yourself in the same paradox as those who wait for the latest iPhone. 

The market will undoubtedly evolve in the coming years, and looking for the best cost-to-value ratio now can prove to be a hopeless endeavour. This is one reason why electric car leasing is more popular than buying an EV outright. 

Purchase Options

According to Bloomberg New Energy Finance, 80% of electric cars are acquired through EV lease deals. There are numerous advantages to a cheap electric car lease. You avoid the burden of depreciation, as well as that of battery degradation. An EV lease also puts you in line for more incentives and loyalty bonuses or leasing specials. If you want to see what’s available, ElectriX provides several useful guides on electric car lease deals and options, along with a wealth of other content on buying, charging and driving EVs. 

Personal Preferences

As for the type of car that will suit you best, you should think about how often you drive and the length of your trips. It’s also wise to check the current EV grants and tax breaks, which tend to change from time to time. Depending on where you live, the availability of charging stations might also play a role in your decision.

A bit of research can go a long way in helping you buy the right electric car. Give it some thought and see what will meet your needs most effectively. 

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