Electric cars - are they the future?
It seems like nowadays petrol and diesel vehicles will be a thing of the past in years to come, and in their place? The Electric car. This comes at a time when the British Government has announced that sales of new diesel and petrol cars and vans will be banned from 2040 as part of their clean air strategy. Read more about possibly the most talked about invention within the car industry, and we're intrigued to find out more.
Image: Electric Ford Fiesta Ford Technology
Over the space of four years the UK’s sales of electric cars went from 3,500 in 2013 to 80,000 in 2016 and 130,000 in December 2017 (around 2% of the new car market).Electric cars are not widely available in the used car market at the moment but they will be eventually, which should make them more affordable.
Whilst they’re still new, we’ve looked into the full cost you'd be faced with, and the more important questions such as where you can find charge points to re-fuel, along with the pros and cons which come with these nifty vehicles!
Electric charge points
The huge boom in electric cars means businesses across the UK have started offering a quick way to recharge these vehicles. You’ll now find electric charge points at petrol stations, supermarkets and shopping outlets across the country, as well as being able to install systems in your very own garage with the help of a government grant.
There are over 12,500 different connectors across the UK at around 4,500 different locations. These electric charge points range from slow charge (overnight) to rapid 80% charge (30 minutes).
If you’re looking to find a local electric charging station, you can use Zap Map who claim to have the most comprehensive list of charge points within the UK. This app is learning about new points each day as the market grows, so if you know of one that’s not on there, add it to help fellow electric drivers!
Charging an electric car
The extensive number of charge points is constantly growing - meaning you don’t have to worry about charging an electric car; whether you're commuting to work, or planning a cross country road-trip (sounds fun!). It is recommended that you do a bit of planning before you set off though to make sure you have plenty of charge points wherever you find yourself.
Should I buy an electric car?
As with any purchase there are pros and cons and we’ve listed some of the common ones below. If you’re looking to purchase an electric car in the future, as with any vehicle purchase we recommend you research how it will fit your lifestyle. If you feel like you're still happy with a good old petrol or diesel, have a look at options we have at First Response for vehicle finance.
- Fuel is cheaper running at around 2p-3p per mile (as of 2018)
- Eco friendly
- You’ll need a charge point at home so off-street parking is essential. You can get a grant to help cover some cost!
- You may need an additional vehicle for really long journeys or to use whilst your car is charging
The costs of an electric car
- Fuel - £800
- Car tax - £110 (highest saving for bands A-D)
Total saving: £910
- Car - £15,500 (including grant)
- Charging station - £166 approximately (including grant)
- Electricity - £300
Total costs: £15,966
These costs are not going to be every year, it’s only the electricity which will be an ongoing cost. This means that each year you’ll be saving around £610, however your electricity bill might start looking a little bigger than you're used to.
It depends how much the vehicles are you usually purchase, but if you compare these figures to an electric car the savings could be instant. The 2018 Ford Fiesta is approximated to cost around £18,500 which, if you chose an electric car instead, would save you around £3,000 instantly and £900 each year.
It won’t be long before they start flooding the used car market - so, would you buy one?