How Electric Cars Can Save You Money

Electric cars have many benefits both for the consumer and for the environment. They are far cleaner and greener contributing to a more sustainable future. They are also cheaper to own and operate. The lower overall cost is a key factor in the rapid rise of electric car sales. The government offers support in buying electric cars, but they are expected to become a cheaper option without subsidies in the years to come.

Whilst electric cars are currently more expensive to buy brand new, there are many older second-hand models available on the market. Electric cars have been around for nearly a decade, meaning that there is a lot of choice in this market. You can pick up an older used model for around six thousand which is a similar price point to more conventional models.

Compared to petrol or diesel, electricity is far cheaper. On a cost per mile analysis, a pure electric-powered car costs a third or less of what a conventional petrol or diesel car could cost. Plug-in hybrids are more expensive but still cheaper. You can choose to charge only during off-peak hours reducing the cost further and meaning you can wake up to a full charge every morning.

A petrol or diesel combustion engine is complex; it has many components and additional parts needed to operate properly – different systems needed to achieve symbiosis. Pure electric vehicles on the other hand only have three: The charger, inverter and the motor. The fewer internal parts mean there is less maintenance and quite frankly less to go wrong. All of which saves you money on servicing costs.

The government offers help in most aspects of getting an electric car. You can receive a grant when purchasing of up to £5,000, and even part exchange your old gas-guzzling vehicle for a newer cleaner model. You can receive government help to install a charging port in your home, the government can give you up to £500 to subsidise the installation fee. Electric cars are currently cheaper on tax – and some are even totally exempt. The government is also pouring money into building accessible charging stations all over the UK so that you can charge whilst you are on your journey.

Apart from the financial benefits, electric cars are also better for the environment. They have no tailpipe emissions – they don’t even have an exhaust! Fewer emissions improve air quality and reduce the number of pollutants released into the atmosphere. The electricity used produces substantially lower greenhouse gases than diesel or petrol. This will be further reduced as more sources of renewable energy are developed and pioneered.

Electric cars are pricey initially, but they do end up paying for themselves in the savings they pass on to the consumer. The government doesn’t offer this much help on any other type of vehicle because electric cars are the future.

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