Top tips for buying electric vehicles to help save our planet
Q. How can I afford an electric car? A. Even though electric vehicles (EVs) cost more up-front than cars with traditional combustion engines, their running costs are far less – making them ultimately more affordable.
Indeed, research by LV Insurance compared the combined purchase and running costs of some popular EV models with their petrol or diesel equivalents.
Over seven years of ownership the EVs worked out cheaper.
Here are my tips for affording one in the first place ...
Seek government help
The UK government offers a maximum grant of £1,500, if you buy a new car costing under £32,000.
Grants for installing home chargers, capped at £350, are only available to those living in flats or rented accommodation – in which case please contact the Office for Zero Emissions Vehicles.
The Scottish government offers interest-free loans for electric car purchases – up to £28,000 for a new one or up to £20,000 for a used one.
The Energy Savings Trust administers them.
Research best value models
The price of electric cars changes regularly, but you can find small EVs with limited ranges for around £20,000 – perfect if you only drive short distances.
However, if you need more range and room, Paul Clarke, editor of The Green Car Guide recommends the MG5, costing just under £30,000, as one of the best value family EVs. Indeed, his website is a fantastic source of info.
Buy second-hand
You could look at Autotrader, Cinch or The AA for a used EV. Reliable, practical models that have been around for a while include the Nissan LEAF and the Renault Zoe.
Subscribe
You could try one of the new electric car subscription services. Onto’s monthly subscription includes insurance, servicing and free charging at over 12,500 public charging points.
With prices starting from £379 per month for a Volkswagen e-up!, it works out cheaper than traditional car leasing. Unlike a lease, you don’t pay a deposit, you’re not tied into a contract and you can cancel or swap to a different EV on a month-by-month basis.
Elmo is a similar service. It offers What Car’s best city car 2021, the Fiat 500e, from £449 per month. Or you could also look at Electric Zoo.
Plan for future low-cost charging tech
One interesting development is something called ‘vehicle to grid’ technology. It means drivers charge their cars overnight – when demand for electricity and its costs are low – and later sell surplus electricity back when prices are high, to ensure ultra-low EV charging rates. This tech isn’t yet available – but it’s coming soon. Octopus Energy and Ovo Energy are both doing trials.