Are electric vehicles worth it?

Are you currently considering buying or leasing an electric vehicle? 

Still being relatively new to the market, it can be unclear whether the pros outweigh the cons when it comes to this type of car. To help decide if they are best suited to you and whether it is worth investment, consider the following areas. 

Environmental

If you’re looking from a purely ecological standpoint, then EVs are the way to go. 

With hybrids having lower and EVs having virtually 0 carbon emissions, it’s an obvious winner compared to their petrol counterparts. These cars can be powered using renewable energy sources, making them far more environmentally friendly than a petrol or diesel car. 

Despite their environmental advantages when running, the manufacturing process involved in making an electric car is actually more detrimental. This is due to the manufacturing of lithium-ion batteries. However, as technology advances, both the manufacturing process and recycling of these batteries are showing signs of improvement.

Distance

Whilst electric vehicles are great for zipping about the city, they can be challenging on long-haul drives. 

The charge typically lasts for a shorter period than traditional refuelling, meaning when driving an EV, you will need to make more frequent stops. As well as frequency, the time it takes to recharge takes considerably longer than it does to refuel a conventional car. 

With all this being said, modern EVs can travel much further than older models and this is only set to increase so this isn’t a reason to not consider making the investment. 

Finances

It’s no secret that EVs are still a little more expensive to buy than petrol-powered cars, but they are cheaper when it comes to maintenance costs. 

Insurance can be a little more but you could potentially save by considering a multi-car insurance policy. 

In terms of charging costs, these vary depending on whether you are doing so at home versus in public. Charging at home is the cheapest option, and many energy providers now offer EV-focussed tariffs which means charging your EV overnight can be cheaper, or you get discounted rates. 

2030 ban

With the government-mandated ban on producing new petrol/diesel cars from 2030 onwards, it could be worth getting into the EV market early. This will give you the chance to get used to how they drive before they become more popular.

Once this ban comes into place, charging infrastructure is only going to improve further, making it more convenient than ever to own an EV. With the ban imminent, it is becoming more common for workplaces, supermarkets, and other public spaces to install charging points to keep up with demand. 

Ultimately, EVs are a good option for many and are only set to become the standard choice and easier to own.