When asked why they haven’t yet bought an electric car, 33% of UK respondents replied that it was because they were too expensive. This is in spite of the financial incentives offered by the British government, and the savings offered over a lifetime of vehicle use.
So are electric vehicles really so costly? Or are the preconceptions holding them back?
In fact, while electric vehicles (EVs) have historically been considered the pricier option, EVs are becoming more budget-friendly every year. While top luxury manufacturers such as Tesla regularly steal the spotlight, there are many more reasonably priced cars hitting the market. And now that electric vehicles are no longer a new phenomenon, it’s becoming easier than ever to find a second-hand option.
The other common concern about the range offered by electric vehicles is being addressed too, with many of the more modern models offering excellent driving distances between charges.
And if you’re not yet committed to going electric? Many dealers offer a leasing option, so that you can try before you buy.
Let’s look at the options available for customers considering going electric.
Financial Incentives
Only new electric vehicles are eligible for the following financial incentives, which include grants from the Office Of Zero Emission Vehicles (OZEV):
The Plug In Car Grant: Cars that are eligible for this grant must have CO2 emissions of less than 50g/km and the ability to travel at least 70 miles with zero emissions. Each vehicle must be government-approved, and cost no more than £35,000. This cost is already deducted off the list price of the vehicle you buy.
Plug-In Motorcycle Grant and Plug-In Moped Grant (PIMG): Applies to electric motorcycles and mopeds. This grant covers 20 per cent of the price of electric vehicles under £1,500.
Plug In Van Grant (PIVG): Vehicles of up to 2,500kg gross vehicle weight (GVW) are eligible for 35% off the purchase price, equivalent to £3, 000. Vehicles between 2,500kg and 3,500kg GVW can also claim 35 per cent – up to £6,000 off the final purchase price.
The Electric Vehicle Homecharge Scheme: Is the thought of charging your electric vehicle putting you off buying one? As an incentive to convert to a more eco-friendly option, the government is offering grants to help you to be able to charge your vehicle from home.
The Electric Vehicle Homecharge Scheme (EVHS) covers up to £350 (VAT incl.) off the cost of installing a charging point at your home. Applicants must own, lease or have ordered an eligible vehicle, and have their own off-street parking. You may have one charging point per electric vehicle, but it must be installed by an official EHVS installer.
The discount will be represented in the final cost. There is also a Workplace Charging Scheme available for businesses, charities, and the public sector.
Tax Savings: Electric vehicles that release no CO2 are exempt from road tax. If an employee of a company, or the owner’s family, uses the company electric car, this is also classed as a Benefit In Kind (BIK), which may also make them edible for deductions on Company Car Tax.
Our Top Picks
VW ID.3 Pure: At a cost of just £25,000 and eligible for the Plug In Car Grant, the ID.3 Pure is a great deal for first-time electric vehicle owners. They are capable of charging very efficiently and reach up to 80% charge in just 45 minutes.
While the range isn’t perhaps the farthest, at approximately 216 miles, it reaches 0-62 mph in a very reasonable 8.9 seconds and can reach up to 99 mph.
The design is ergonomic and practical, with a spacious interior and comfortable seating. The dashboard can be configured easily, which makes it a convenient drive. Not a supercar by any stretch of the imagination, and not breaking any major barriers, but overall, a reliable and steadfast car that showcases the best of VW efficiency.
SEAT Mii Electric: For a mere £1,000 more at just £16,000, the Mii takes all the best parts of the Skoda CITIGOe iV and polishes it, making the Mii one of the most affordable electric vehicle options on the market. While it is not eligible for government grants, its reasonable price means that isn’t necessarily a problem.
The design is very slick for a budget car, with leather trimmings, a brand-new dash, and lighting. A great option for buyers who want a cheap option without scraping the barrel.
Fiat 500e: The Fiat 500e is ideal for the busy EV owner. With a charge of 80% in just 26 minutes, it’s very fast to charge, and the longer-range can reach up to 199 miles. The long-range costs £33,495, meaning that both short and long-range are eligible for the Plug In Car Grant. The short-range version costs just £21,995, making it a very affordable option for customers on a budget.
To drive the Fiat 500e is agile and easily handled, with a decent top speed of 93mph and a motor power of 70kW. It also comes with the option of one-pedal mode for ease of driving.
Overall, this car is a fun and clever car which combines an affordable price point with competent performance.
