In an ideal world, you could buy yourself a new car without burning through your wallet in the process. But sadly, that’s not an option. You’ll always have costs to consider. However, in the case of electric cars, you will find that there are some financial benefits. These are some of the financial perks you will find when buying and owning an electric car.
At first glance, an electric car may seem like a hefty sum. But when you consider the costs that you will build up over your electric vehicle’s lifetime, you’ll find that the initial purchase will take up a large bulk of the invested money; certainly a larger bulk than if you were buying a petrol or diesel-run car.
Putting Petrol and Diesel in the Rear-View Mirror
Petrol and diesel are going to be some of the most taxing (and recurring) costs you’ll have to deal with over your car’s lifetime. You won’t have to worry about these costs with a car that is primarily dependent on an electric battery. The cost of travelling 100 miles with an electric car could be a potential sixth of what you would spend with a petrol or diesel engine.
Petrol and diesel engines come with many components such as spark plugs, radiators and exhausts, and chances are you’d have to pay a pretty penny to keep them maintained. But with an electric car, they have much fewer parts, with a battery that can be fairly straightforward to maintain. And while you may have to take your electric car to a specialist dealer, these trips can be few and far between compared to a petrol-run car.
Road Tax No Longer Taxing
As a regular driver, you know about the road tax laws. But you should also know that electric vehicles don’t operate under the same requirements, with some even being exempt from road tax altogether. You have the car’s zero exhaust emission to thank for that.
Generating Your Own Electricity Supply
Even though you will save money using a charging port station, there are a few ways you can wind the cost down even further; you can charge the vehicle during off-peak hours (often overnight) or you can charge it from your own home using your own source of electricity. Bear in mind though you may need to play the waiting game for quite a while until the car is fully charged.
Insurance Risks Minimised
The car insurance that you’re expected to pay with an electric car will be slashed, owning to insurance providers recognising that electric cars carry a lesser risk, as well as being safer and less likely to break down. In some cases, insurance policies can offer a 10% discount on electric cars.
While almost all electric cars come with these perks, you’ll find they can vary in terms of mileage, prices and charge requirements. You should be able to have a rough scale of the benefits based on these reviews available at greencarguide.co.uk/electric-cars/electric-car-reviews.