Should I buy an electric car now?
As we get closer to the 2030 ban on the sale of petrol and diesel cars, you may wonder when the best time would be to buy a new electric car.
Should you buy an electric car now? Or is it best to wait?
Based on the environmental impact of electric cars, then the sooner you buy one, the better.
However, before you decide to buy an electric car rather than a petrol or diesel car, there are a few other things you should consider.
What electric car should I buy?
When most people refer to an electric car, they probably mean a Battery Electric Vehicle (BEV). A BEV has an electric motor powered by a battery. You charge them using a home wall charger or one of the public charging points across the UK.
The other main type of electric car is a Plug-in Hybrid Electric Vehicle (PHEV). A PHEV has an electric motor powered by batteries and an engine powered by petrol or diesel. You can charge these in the same way, but the range of the batteries is around 40 miles. For longer journeys, the engine will take over from the electric motor.
The type of electric vehicle that’s best for you will depend on how you’re likely to use it.
As the range of batteries extend, drivers will be able to use BEVs for longer journeys. This image shows the typical range for a one-way and return trip in a standard range MG5 electric vehicle. Image courtesy of the range calculator www.evnavigation.com.
PHEVs allow for longer journeys and you can choose to buy a PHEV now. However, in 2035 hybrid vehicles will no longer be sold. This is to further encourage the sales of new zero-emission electric cars.
Your choice of electric vehicle will depend on how you use your car and whether you might want to “test the water” with a hybrid first.
But buying is just one option. You could also choose to lease an electric car.
Should I lease an electric car?
Many people would rather lease a new car than buy it outright. This is also a possibility when it comes to new electric vehicles.
When it comes to EVs, many people consider leasing over buying because it allows them to see if driving an electric car is right for them.
Here are some of the things you should consider when leasing an electric vehicle.
The benefits of leasing a new electric vehicle include:
- fixed monthly payments
- no worries about depreciation
- the flexibility to switch to a new car at the end of the contract
- the choice of new electric cars is likely to increase by the end of your contract
- fuel savings
- service and maintenance included with some packages
Other things to consider when leasing a new electric vehicle include:
- possibly incurring penalties if you exceed the agreed number of miles you travel per year
- being responsible for any services and repairs if it doesn’t include a maintenance package
- returning the car at the end of the lease if you don’t replace it (with any additional payments)
If the price of a new electric car is out of your budget range and the monthly payments of a leasing package are out of the question, another option is buying a second-hand electric car.
Should I buy a second-hand electric car?
There’s plenty to bear in mind if you’re considering buying a second-hand electric vehicle.
Buying any used car can be daunting. But there are a few more things that you should consider when buying a used electric car.
The biggest perceived issue with used electric cars is how well the batteries keep their charge. A second-hand electric vehicle that struggles to maintain its battery charge could mean replacing the battery, which could come with a significant cost.
However, the life of the traction battery in a modern electric vehicle is likely to outlive the car. Even so, you should still check that all the car’s electrics work.
Most EVs come with a separate warranty for their battery, which usually runs for longer than the car’s warranty. This should give you extra peace of mind when it comes to the battery charge.
The good news is zero-emission electric cars come with fewer moving parts than a petrol-driven engine. So, there’s no exhaust or gears to check for defects.
As with all cars, new or second hand, it’s essential to take a test drive. Listen out for any unusual noises, bumps or vibrations. Luckily, they’ll be easy to hear because electric cars are so quiet to drive!
With Nathaniel Car Sales, you’ve got the added assurance that all our used electric cars come with the extra support of our plug-in car experts. Not to mention 5.9% APR* and free MOT for life.
We’ve looked at the various options for buying or leasing an electric car, but when is the best time to do that? Should you do it now, or is it best to wait?
When should I buy an electric car?
The right time to buy a new electric car will depend on an individual’s circumstances.
The way you use a car, the selection that’s currently on offer, the ability to charge easily and budget constraints will all factor into the decision.
The benefits to waiting are:
- the choice of electric cars may increase
- the range of electric cars may improve
- the price of electric cars might go down
- there may be more incentives when the sale of petrol and diesel cars is banned in 2030
But there are also benefits to buying a new zero-emission electric car now.
If you buy now, you’ll start to make savings on fuel costs straight away. In the years between now and 2030, you’ll be well ahead when it comes to fuel savings. For a typical driver doing 8,000 miles a year, these savings could be as much as £10,000 between now and 2030.
You can work out the savings based on your own usage in our handy fuel-cost comparison calculator at the bottom of this blog.
There are also incentives and grants that you could qualify for right now, including:
- a plug-in car grant worth £2,500
- a home-charger grant worth £350
- perks and discounts for electric cars with green number plates.
It’s worth remembering that these grants are time-limited and could end at any time.
So, should you wait or buy a new electric car now?
If your budget and lifestyle are right for driving and maintaining an electric vehicle, then we’d say, go for it!
You’re bound to have plenty of questions about electric vehicles, whatever you choose to do.
Luckily, our plug-in car experts will be more than happy to answer them. Just fill in the “Ask our EV Experts” form. Then, pop into Nathaniel Cars’ showrooms in Cardiff or Bridgend to check out our range of electric vehicles for yourself.
*Fees are already accounted for within the payments displayed and included within the total amount payable.
Finance available subject to status. Indemnities may be required. Other finance offers may be available but cannot be used in conjunction with this offer. We work with several carefully selected credit providers who may be able to offer you finance for your purchase. We are only able to offer finance products from these providers.