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Electric Cars: Are they the cheaper option?

When it comes to electric cars, there are many different opinions. Whilst for some they represent the future of the car industry, on the other hand they can be seen as costly options. However electric cars are becoming more and more popular as major cities start implementing emissions bans. As a result the price of these previously expensive vehicles is starting to come down significantly.

Leasing

Leasing a fully electric or hybrid car has never been so attractive. Whilst in the past leasing an electric vehicle used to be prohibitive, now it is a very affordable option. Melanie Shufflebotham from NextGreenCar is a strong advocate of electric cars. She recommends leasing a car over buying it when it comes to electric vehicles. Her rationale is that at the end of the lease period new battery technologies could well be available on the market; leasing would mean that it would be much easier to switch to a more advanced technology option - as opposed to being tied to a less sophisticated vehicle as a result of buying.
TFS Vehicle Leasing offers many cheap car leasing deals for electric models, click here to see our top electric leasing offers.

New scheme

Electric Car Owners will soon be able to reap benefits from electricity supplier Ovo. They will be launching a new scheme which aims to cover the vehicle’s running costs; which can reach an annual average of £350-400. The new scheme will allow the energy company to use the vehicle’s battery in exchange for covering running costs. This will be made possible by installing a special charger in the car owner’s house and having them set the amount they are planning to drive the next day. Afterwards, Ovo will trade the remaining electricity from the battery. The owner will effectively get the electricity needed to power the car for free.

Running costs

Low running costs are possibly the most appealing factor when considering an electric vehicle. Whilst a 100 miles trip will cost electric car drivers an average of £2 to £4, a diesel car driver will pay between £12 and £15. This sizable difference is particularly significant, as it is often ignored by those deciding between electric and diesel options.

Another, often ignored, extra cost of driving a non-electric car is that of emissions based bans and congestion charges. As cities are becoming increasingly more aware of the damage caused by diesel and petrol cars, they are increasing charges and implementing bans to prevent access to many parts of the main European cities. Electric cars will soon become the norm rather than the exception.

Whether you are planning to lease or buy an electric car, the future is bright in terms of costs, technological progress and availability. If you think leasing an electric car is your future contact us for more information, we will be happy to help!

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Posted on 9th October 2017 at 5:08 PM

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