Should I buy an electric car now or wait?
ELECTRIC vehicles are rising in popularity and deciding whether to buy an electric car now or wait is a question on the minds of many.
Advancements in technology and growing environmental concerns mean that now more than ever, many of us are thinking about making greener decisions and considering the big switch.
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But it’s not all about our conscious choice either, as governments are pushing for stricter emissions regulations and offering more incentives for electric vehicle (EV) buyers.
However, before making the switch, potential buyers need to weigh the current benefits against possible concerns, including future battery technology improvements, charging infrastructure and affordability.
If you are wondering if it’s worth buying an electric car today, we’re here to settle the score to find out if it’s better to go all in now, or if it might be worth the wait.
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Is it worth buying an electric car?
Good question, if you’re considering whether it is worth buying an electric car, it’s essential to weigh up the pros and cons.
On the positive side, electric vehicles offer significant environmental benefits, producing zero emissions and ultimately helping our planet.
Electric vehicles also tend to be more energy-efficient, with lower operating costs compared to traditional petrol and diesel cars.
If you’re a fan of peace and quiet, another positive for many EV owners is the whisper-quiet operation and smooth driving experience that you get.
There’s also the convenience of home charging and government incentives, such as tax credits and rebates, to encourage the purchase.
New government research suggests EV drivers could save up to £700 annually on maintenance costs compared to petrol or diesel cars.
However, there are some drawbacks to consider.
The initial cost of an electric vehicle is typically higher than that of traditional petrol cars, although this gap is closing.
Another concern for many is known as ‘range anxiety’, which is the fear of running out of battery power before reaching a charging station.
While electric car charging stations are becoming more widespread, they are not yet as plentiful as petrol stations, which can be a limitation for long-distance travel.
But rest assured, the number of public charging points has also grown, reaching 64,775 at the end of June 2024.
Car charging methods
Understanding the different methods of charging your electric car is crucial to ensuring you can keep your vehicle powered up and ready to go when you are.
The two primary options for charging are home charging and public charging. Home charging is of course the most convenient method, as it allows you to plug in your car overnight using a standard outlet or a dedicated charging unit.
If you’re on the go, public charging stations offer an alternative and are found in various locations, such as shopping centres, parking garages, and service stations.
Some EV owners also use services like the BP Pulse card and mobile app, which allow access to a vast network of electric car charging stations across the UK.
The BP Pulse app helps you to locate nearby stations, monitor your charging session and even pay for your charge conveniently.
How much does it cost to charge an electric car?
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The cost to charge an electric car can vary and is heavily dependent on several factors including location, the type of charger and the charging speed you’re looking for.
If you opt to charge your EV at home, this is typically the most economical option, but the cost will depend on your electricity tariff.
On average, charging a 60kWh EV at home can cost between £13 and £15 for a full charge, which will give you around 200 miles to play with.
Public charging stations will have varying rates; some offer free charging, while others may charge by the hour or per kWh, these are often at higher rates than home charging.
Faster chargers and ultra-rapid units will generally cost more due to the convenience aspect and the quicker charging time.
Is charging an electric car cheaper than petrol in the UK?
Yes, charging an electric car is mostly cheaper than filling up a petrol vehicle in the UK.
The cost per mile for an electric vehicle is significantly lower due to the efficiency of electric motors compared to traditional engines.
For example, the average cost of electricity for home charging is around 15p – 20p per kWh (approximately 4p per mile).
However, with petrol costs continuing to rise, at the moment you’re looking at paying around 14p per mile.
Although public charging can be more expensive, especially with rapid chargers, the overall savings in fuel costs make electric cars more economical and cost-effective in the long run.
Everything you need to know about electric cars
- How long does it take to charge an electric car?
- How much does it cost to charge an electric car?
- Will electric cars get cheaper?
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- How long do electric car batteries last?
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