Buying a car, be that a new or used car is a financial commitment, one that you need to make sure you can keep up the repayments on. With the government’s plans in action to ban the sale of petrol and diesel cars by 2030, the question comes to mind: How much is an electric car? – If you have recently bought a car, then this will likely be your next purchase and if you are looking now, then you will likely be joining the electric car craze.
In the beginning of the electric car’s introduction to the market, they were seen as the ultimate luxury, with high end price tags to match this status, but as climate change motors to the forefront and protecting the environment is important to consumers, this status is changing.
Manufacturers are on board and the electric car era of the industry is taking over. Purchasing an electric car is more realistic for those on an average salary and in the not too distant future could be a first time buyer option as the used electric car market follows the new electric car boom trend.
Diesel & Petrol vs. Electric
There is a huge money saving benefit to going electric, that being based on the fuel comparison. There is no fuel cost when you go electric and the electric bill costs half of the price. As well as this, the maintenance costs are substantially lower, as there are far less moving parts that can break – say goodbye to spark plugs, oil and timing belt issues.
The higher upfront costs associated with purchasing an electric vehicle are offset by the savings that you will see over the car’s lifetime.
Costs of Powering Electric Cars
The cost of fuelling an electric car varies from model to model, much the same as the traditional combustion engine type. You can get an accurate figure of how much a car is going to cost you to run by the number of kilowatt-hours the car gets per 100miles (kWh/100 miles). This information will be available to you with any car purchase.
If you really are considering buying an electric car, then you also should take into consideration getting a charging station installed at your house – this will give you an accurate figure for the true cost of the commitment. With stability in electric prices compared to fuel prices, the future costs of running are more predictable.
If you want to look at the prices of electric cars that are available on the market, you should refer to our blog: Electric Cars to Watch 2022
