Slowly but surely, the Electric Vehicle or EV is becoming the norm. Almost all manufacturers are offering a Hybrid Vehicle but more are coming to market with a full Electric Solution, which makes for cheap motoring …. or does it?

Best Electric Cars 2016

If you haven’t driven one yet, book yourself in and have a go. It’s an experience even the most die hard of ‘petrol heads’ can’t fail to enjoy. The BMW i3 might be curious to look at, but is a fantastic drive, made with a carbon fibre body and designed to be completely recyclable. It’s lightweight shell allows this little rocket to excite and amaze with day to day enjoyable sporty performance.

The Top 10 Electric Cars are:

    1. BMW i3
    2. Tesla Model S
    3. Volkswagen e-up!
    4. Nissan Leaf
    5. Tesla Model X
    6. VW e-Golf
    7. Kia Soul EV
    8. Renault Zoe
    9. Ford Focus Electric
    10. Nissan e-NV200 Combi

Government Grants

Electric car prices seem quite high but you need to do your maths, as the inflated prices take into consideration substantial fuel savings compared to normal combustion engines. In addition, there are Government Grants available which contribute towards, both the cost of the purchase, and the home charge point. This takes some of the sting out of an EV purchase.

Inevitably, over time Electric Vehicles will come down in price, as popularity grows and technology improves but if you do your homework, there are some big savings to be had here.

Home Charging Points

You can get a 30 amp home charging system installed from as little as £149. The Government incentive scheme contributes towards the cost of installation and you can plug your car in, and be fully charged in as little as 4 hours. The BMW i3 for example includes a super charge port allowing you to charge your car fully in 40 minutes, at a 3 phase charging point. 4 hours from the Home Charge Point is still entirely manageable. This equates to approximately £2.50 worth of electricity for 130 mile range.

Cost to run an Electric Vehicle

How you buy an Electric Car is up to you. You can lease them, buy them outright or use PCP. However you do it, the highlights of ownership are as follows:

  1. No Road Tax
  2. Cheap Insurance
  3. Little or No Maintenance Costs
  4. Electricity

If we take the BMW i3’s range of 130 miles and round it down to 100, as it can vary based on how you drive. If we take 8,000 miles use per year and divide by 100 to get 80, multiplied by £2.50 per charge, this works out £200 for 8,000 miles …. Yes, electricity prices will change and are likely to go up, but even if you factor it at £3.50 per charge, it’s only £280 per year.

The batteries on these vehicles are guaranteed for a long time. BMW are offering 8 Years or 100,000 mile warranty. That’s impressive.

Lifestyle Choice

Some people seem to buy Electric Vehicles because of their so called ‘Green’ / ECO footprint. It is environmentally friendly from the zero emissions aspect to the materials used to make it. Others choose an EV because it’s simply ‘Cheap to Run’ whereas some, genuinely enjoy the unique (and fun) element of driving such a responsive and quick vehicle.

Regenerative Charging

Driving the BMW i3 is unlike anything you have driven before. It’s very quick and super fun to drive but feels odd compared to a normal car. It’s an automatic drive which is fine, but what most find odd, is the auto braking when you lift off the pedal. Unlike a normal car which will coast as you lift your foot from the accelerator, the i3 will auto brake and which sends power back to the battery. With a little practise it’s possible to drive this car, without hardly touching the brake pedal at all.

Raising Finance

If you are looking to invest in EV and need some help raising finance against the equity in your home, click here.