Electric Cars: The Pros and Cons
Electric cars are big business in the United Stated and Tesla is becoming a force to be reckoned with. In the United Kingdom, things are moving a little more slowly.
The British public just hasn’t taken to electric cars in the same way, but they are slowly starting to gain traction. It’s inevitable that electric cars will slowly take over, but the UK lags behind the US when it comes to infrastructure and we’re still worried about running out of juice on a dark, gloomy night in the middle of the countryside.
City dwellers will almost inevitably make the switch first and there are big incentives for those that stay within the city walls to switch to green electric power. Here are some of the pros and cons of electric cars:
Pros
Home recharging
If you charge your car at home then you never have to visit a petrol station again. Petrol is getting seriously expensive these days, electricity is much cheaper and you can expect to pay £1-£4 for the privilege.
Range and recharging is getting better
Range anxiety used to be a big thing, but the new Tesla Model S will cover 265 miles on a single charge. That’s more than enough for most people’s daily use and plug-in points are becoming standard fare at motorway service stations and even throughout major cities these days. Plenty of the points charge for the privilege, but the average charge is still around £5.
No road tax
The government is very keen on electric cars, so much so that there is no road tax on them. That is, on average, a £200 saving right there.
Government subsidies
The government goes further than that. There is a subsidy available up to £5,000 that helps offset the cost of electric motoring.
No congestion charge
Admittedly this is only really an issue in London, but a lot of the population live in the capital and the congestion charge is a serious expense for commuters on a budget. An electric car skirts the charge entirely and make major savings.
No emissions
The basic point of an electric car is that it is kinder to the environment. So if you own one, you’re part of the solution and you’re contributing to a cleaner world.
Cons
Price
An electric car is always going to be more expensive than its petrol-powered equivalent and the initial investment will hit you in the wallet. The subsidies help and various leasing deals might make the cost of going electric more appealing, but it’s never going to be the cheap option.
Range
There are still concerns over the range on offer from fully electric cars, which is why many go for the hybrid option and have shied away from making the leap to pure electricity.
Infrastructure
Things are coming on in leaps and bounds, but there are still concerns for people living in apartment blocks or in rural areas.
Battery life
While the batteries are low-maintenance, they are only expected to last between seven and 10 years. That means there’s an expensive bill down the road and most cars will need a £4000 service in one hit. That’s a worry, but amortised over the lifecycle of the car it really shouldn’t put you off.
Depreciation
What should be more of a concern is that this is new technology, so the electric cars in a few years’ time will make today’s look like dinosaurs. That inevitably means they’ll take a major hit when it comes to depreciation and there’s a real danger that a £60,000 investment could be virtually worthless in five years.
Insurance
Premiums can be more expensive for electric cars, so you need to shop round for a proper quote and the mainstream insurers might not offer the best deal.