The general misconception of electric cars is that they are expensive and out of most people’s budgets. However you could be wrong, when you take into consideration a majority of factors. It’s not only the cost of the car, and the monthly repayments you need to keep in mind. Maintenance, fuel and general upkeep can have a huge impact on the price of a car. Spoiler alert: It’s better to lease than buy!
For those that want to find out why we suggest you keep reading.
Renting VS Buying
The most common misconception of electric cars is the cost. Unfortunately it’s something that isn’t so easy to get across to anti EV individuals. Swapping to an electric vehicle doesn’t have to be costly, depending on the route you take.
If we look at smaller electric cars such as the Vauxhall Corsa-e, Renault ZOE or the BMW i3, prices can start from anything between £26,000 to £27,000 to buy the car outright. We hear you, that is costly! Only a few people would have that amount of disposable income to play with, so what’s the alternative?
As Jessie J would say forget about the price tag. Leasing versus buying the car can be a very cost effective option if you go to the right place. We aren’t talking about looking at finance deals as the monthly payments could still be quite expensive. Renting from a vehicle hire company on a long term basis will definitely bring the costs right down, making electric cars more affordable for your bank balance.
How else can I benefit?
It’s not only the cost of the actual vehicle that needs to be considered. When a petrol/diesel car is purchased, the owner will need to ensure they pay for road tax as well as additional charges that the car may incur.
When you switch to an electric vehicle you will benefit from paying no road tax. For example, a Ford Fiesta Titanium (5 door) falls under the Band E bracket (132-139g/km – CO2 emissions). You could be paying around £150 per annum depending on the engine size. Whereas the Peugeot e-208 that is of a similar size will cost you £0 in 2020, and only 1% tax next year.
It may not be known to many but maintaining an EV is effortless in comparison to standard non-electric cars. With a lot less parts under the bonnet, there’s a lot less to worry about replacing when parts start to wear. This allows car maintenance to become more cost effective.
The Congestion charge has been running since February 2003. Until recent changes occurred on 18th May 2020, when the charge was reinstated after the Coronavirus lockdown, drivers are finding commuting into London and other cities expensive. The charge has increased to £15 from £11.50, and the hours of operations have also been extended. You can avoid the congestion charge payment by driving pure electric cars, saving you a lot of money if you travel through the affected areas regularly.
Benefit in Kind
There’s also a handy company perk known as Benefit in Kind (BIK) that will also save you further money. If you’re thinking about an electric vehicle for your company car you could be 0% in company car tax. You’re missing out if you haven’t already thought about this! Read our BIK blog post to find out more.
We use the word ‘fuel’ loosely, as EVs will need charging to fill them up instead. Filling up at a conventional petrol station is likely to set back a driver at least £30 to £50 depending on the vehicle size. When you charge up you could be paying around £10 to £20 for a full charge instead. Again depending on the range of the vehicle. Pod Point, one of the UK’s leading providers of electric vehicle charging points have put together a breakdown of costs for various vehicles.
Another huge bonus is the time you save. When you have a home charge point you could be charging your vehicle whilst you sleep. Think about how much time you save instead of queuing up at a petrol station!
Looking to buy a second hand EV?
Another option for anyone looking to make the switch is to buy a second hand EV. If you know where to look then you could find yourself a great deal! Luckily enough, you’ve ended up on our website, and fortunately we do have a select handful of electric vehicles available to buy.
Whether you’re looking for a second hand BMW i3 or a Tesla Model S we could have something to suit your needs. View our available EVs for sale, and contact us today to arrange a viewing.
When you buy a second hand EV from EVision we will provide you with a car that has only one previous owner, it will come with a 3 month warranty and we will do a full MOT on the car so you won’t have to worry about it for a whole year!
Extra benefits when hiring from EVision
With any EVision long term hire comes long term benefits. Yes, they are free too! For hires over 12 months you will enjoy the following perks:
We will provide you with a free vehicle charging point. All you need to do is get it installed, whether that be at your home or workplace. Never fear range anxiety when you have a charging point whenever you require it.
Unlike most vehicle rental companies we won’t cap your mileage with a low usage. We want you to enjoy the vehicle, not sit and look at it. Here at EVision we will offer all long term customers 20,000 per annum.
If you own your vehicle or you’ve not checked the terms and conditions of the leasing company, you may be left with hefty maintenance and services charges. Hire from EVision without the worry of an empty wallet. We will cover all maintenance and service costs, including tyre wear, leaving you to enjoy your electric vehicle and only thinking about one monthly payment.
When you sign up to become an account customer with EVision we won’t require a deposit upfront for the hire. We will also not require you to send over your ID and essential driving documents everytime you wish to take out a hire. If this is something you want to find out more about, or wish to sign up, we can do this with a click of a button.
Contact the team at EVision
If electric cars are becoming more appealing to you then contact the team today via email or call us on: 01634 914063. We are more than happy to provide you with a quote for a long term rental, and talk you through exactly what you’ll get when you hire from EVision.
If you’re raring to go you can also book a hire via our website.
We look forward to seeing more EVs hopefully out on the road, now we have busted those EV myths!