The idea of going fully electric is creeping up on all of us. Whether you like the sound of lower running costs, zero pollution or simply the upcoming 2030 combustion vehicle ban, it’s becoming more enticing than ever to choose one’s fate and go electric. However many factors there are to consider, it’s important to make a justified decision before buying one. This article will help you make that judgement, giving you the lowdown on all aspects of electric cars, and whether or not you should swap to electric.

 

Electric cars (EVs) have become more popular each year, according to information from The Society of Motor Manufacturers and Traders (SMMT). In 2023, the total number of new Battery Electric Vehicles (BEV) sold in the UK was 314,687, compared to 267,203 in 2022. This shows that buyers are becoming more keen to go electric, and it’s easy to see why. Low maintenance is common for EVs, including free road tax and the fact that without an engine, it’s cheaper to service with less running parts. Despite these advantages, insurance costs tend to be more expensive with EVs. This is because of the cost of batteries, and if they are damaged, it can be difficult to repair. This is important to remember before buying an electric car, especially those in groups who have high insurance costs.

 

Charging is one of the most talked about topics when it comes to electric cars. Opinions vary between individuals who have off-street parking, and those who don’t. Those who have the ability to install a wall-mounted charger at home can benefit from cheap and convenient charging costs, however those without this luxury have to turn to public charging. According to Zapmap, the average price of public charging was 80p/kWh in September for 50kW+ charging, meaning it would cost £48 to fully charge a 60kWh battery. It seems that for individuals who can only use public charging, there is little difference between cost of fuel for electric and petrol.

 

The price of an electric car is higher than its petrol or diesel equivalent. A new Volkswagen Golf starts at £27,420, where its electric equivalent, the ID.3, starts at £35,700. A price difference of £8,280 is largely to do with the price of the battery. This could be a reason why individuals decide not to buy electric new. However, on the used market, EVs are appearing cheaper than their petrol/diesel equivalents. According to Cap HPI, EVs are 8.5% cheaper than petrol equivalents after three years. This is largely due to the fact that new EV technology is far better than it was even three years ago. Those in the market for an EV should consider buying used for this reason, if the technology complements their lifestyle.

 

Overall, it seems there are just as many positives as there are negatives to going electric. If you have a sufficient way to charge, your driving style complements the limiting range and your budget is able to extend to a higher list price than petrol, there’s no reason not to. However, residual values, public charging costs and insurance costs may be a limitation for many. The upcoming 2030 petrol diesel ban is set to ban new sales of combustion vehicles, which means these problems that we’re experiencing with electric cars will need to be solved by then.