Should You Consider an Electric Car?

Should you consider an electric car? Have you been thinking about buying one? Here at Carlover, we understand how choosing the right electric car model is a difficult decision and that’s why we want to simplify it for you by giving you a comprehensive list on choosing the right electric car model, after all electric cars are on the rise.

Carlover know the importance of purchasing a functional and safe electric car and no one knows used cars in Belfast like we do.

Types of Electric Cars

Commercially available electric cars range from EVs to FCEVs, but the question is what do these acronyms stand for? 

  • Electric Vehicles (EV)
  • Hybrid (HEV)
  • Hydrogen Vehicle (FCEV)
  • Mild Electric Vehicle (MHEV)
  • Battery Electric (BEV)
  • Plug-In Hybrid (PHEV)
  • Range-Extended Electric Vehicle (RE-EV)

Buying New vs. Buying Second Hand

Even “cheap” electric vehicles can still be costly and therefore, it is important to think about whether you should buy a car brand new from a dealership or purchase it secondhand. Previously, it was a lot more difficult to find second hand EVs in the market.

However, with the increase of trading in and up, there is now a nice selection of second EVs available. These pre-owned vehicles can range from 3 years up to 7 years old. We see a direct correlation with the growth in electric vehicle sales. 

However, it is still quite expensive to own an electric vehicle first hand. They are typically a grand dearer to purchase and about £100 more per month (on a personal contract purchase) than the average comparable internal combustion-powered car.

However, it does make up for the cost of running an EV instead of a combustion-powered engine. Electricity is significantly cheaper than filling up on diesel or petrol and thus, it could save your hundreds annually. 

Electric Car Model Prices

Top End EVs:

  • BMW i8 – £100,000
  • Porsche Taycan – £85,000
  • Tesla Model X – £82,000
  • Tesla Model S – £80,000
  • Audi E-Tron – £70,000
  • Mercedes EQC – £66,000 
  • Jaguar I-Pace – £60,000

Mid-range EVs

  • Tesla Model 3 – £40,000
  • BMW i3 – £36,000
  • Tesla Model Y – £35,000 
  • Tesla Cybertruck – £35,000
  • Kia e-Niro – £34,000
  • Volkswagen e-Golf – £34,000
  • Hyundai Ioniq – £30,000
  • Hyundai Kona – £29,000
  • Peugeot e-208 -£29,000

Entry Level EVs:

  • Nissan Leaf – £27,000
  • Vauxhall Corsa-e – £27,000
  • Volkswagen ID.3 – £26,000
  • Honda e – £26,000
  • Renault Zoe – £25,000
  • Mini Electric – £24,000
  • Volkswagen e-up – £20,000
  • Smart EQ – £17,000

It is possible to buy some of these car models second-hand, but as a consumer you mightn’t have the widest range of options. For example, used Nissan Leafs, which is the UK’s top-selling car, start from around £7,000, while a Renault Zoe can start from £4,500. 

Electric Car Incentives 

To encourage owners to make the switch, there have been government attempts to push the electric car agenda. Government grants are used to apply to all EVs. However, from March 2021, only EVs valued under £35,000 can qualify for a £2,500 grant. 

  • Electric Car – £3,000
  • Electric Bike – £1.500
  • Small Electric Van – £3,000
  • Large Electric Van – £6,000
  • Taxis – £7,500
  • Trucks – £16,000

Typically, it is the EV dealership that applies and receives the grant and when you consider purchasing a new EV, the prices quoted will have the value of the grant deducted.

There are other electric car incentives that a consumer can take advantage of:

  • Pay no road tax (unless the car has a listed price more than £40,000)
  • Has a low company car tax
  • VAT on domestic electricity is at 5%
  • EVs are eligible for discount of 100% from the Ultra Low Emissions Zone
  • EVs pay a reduced parking rate or have no parking charges
  • There are planned “green licence plate” initiatives that allow them to use bus lanes

As there is an ever-increasing price in petrol, it might be the right time for you to consider choosing an electric car and make the switch. Car Lover is leading the path to supporting drivers in making the switch by having affordable used cars in Belfast. Find out more about Car Lover deals today!

David is one of the Co-founders at Carlover. He has an extensive background as a product designer & manager, spending the last 5 years leading teams in designing and building apps for multiple industries. He is a self confessed car fanatic and a lover of all things tech. When he's not working on the amazing set of Carlover products, you can usually find him working on his own cars!