What are the benefits of owning an electric car?
Electric vehicles (EVs) have boosted in popularity in more recent years. What started off as a drive to help the environment has bought financial, performance, and social benefits too. And with the government’s impending ban on new petrol and diesel cars by 2030, you too may soon find yourself charging your car instead of fuelling it.
Top electric car benefits:
Environmentally friendly zero carbon emissions
Cheaper to run compared to petrol and diesel cars
Quieter than combustion engines, so reduce noise pollution
Exempt from paying road tax and London congestion charge
Government grants to help you buy a new electric car and install a charging point at home
Free parking in some cities
Read on to discover in full detail the benefits of switching to a hybrid or fully electric car.
Environmental benefits of electric cars
One of the biggest advantages of electric cars is how green they are versus their combustion engine counterparts. Although making electric cars does use a lot of energy (during battery manufacturing), there is still a huge reduction in emissions created over the car’s lifetime.
Environmental benefits of electric vehicles include:
Reducing your carbon footprint: Electric cars don’t emit any exhaust gases, which makes them much better for the environment than petrol or diesel cars
Improved air quality: Because electric cars emit zero emissions, they produce zero CO2 reducing air pollution considerably
Less noise pollution: Electric cars have no need for an engine, so make very little noise
Economic benefits of electric cars
As well as helping the environment, you could also save money by driving an electric vehicle.
Running and maintenance costs
Electric cars are cheaper to run than a traditional combustion engine.
Electric cars are still more expensive to buy than cars with petrol or diesel engines, but they require much less maintenance and so still tend to be cheaper overall. This is because EVs have fewer moving parts which means less potential for something to go wrong.
Driving, parking and charging costs
There are other financial benefits of owning an electric car too. Fully electric vehicles pay no road tax and if you live or work around London and drive an electric car, you won’t need to pay the congestion charge. Plus, in some areas in the UK, you can find free, priority, or dedicated parking bays for electric cars.
You will also have convenient charging points at home, work and while shopping. Some energy suppliers have even started offering energy tariffs aimed at EV owners which can help you charge at a reduced price at home.
Do EVs have resale value?
Initially, resale values on EVs were poor because there wasn’t a big market for people wanting to buy them, especially used vehicles. Now electric cars are much more common, the demand for used EVs has shot up.
If you're looking to make the switch from petrol but are worried about the price of a brand-new car, second-hand electric cars could be a great affordable option.
Which electric vehicle is right for me?
The market for electric vehicles isn't what it used to be. If you're interested in purchasing in an electric car you now have lots of options to choose from. Just like buying any other kind of vehicle, it pays off to take some time to look at your options.
To help you find your perfect EV, we have a handy Electric Vehicle Tool where you can compare electric vehicles based on features like efficiency and charging speed, price, and car insurance quotes. Why not try it out for yourself?
Our expert says
There’s a vast difference between the battery range of electric cars on the market today compared to five years ago. The latest models being launched in 2023 have an average range of almost 300 miles, according to the Society of Motor Manufacturers and Traders (SMMT), which can make them a genuine alternative to diesel and petrol vehicles, even for high mileage drivers. If price rather than range is your priority, our tool can also help find the right model for you.
Can I get a government grant for an electric car?
Another benefit of buying an electric car is that the UK government has a scheme in place to give you up to 35% off the price tag of qualifying electric vehicles, up to a maximum of £1,500.
You can also get up to 75% towards the cost of installing a charger at home through the electric vehicle (EV) chargepoint grant.
Not all low-emission vehicles will get a grant. Only vehicles that have been approved by the government are eligible.
How does electric car production affect the environment?
Making electric cars does use a lot of energy. In fact, the emissions created during the production of an electric car tend to be higher than a conventional car. However, even after taking battery manufacturing into account, electric cars are still a greener option. This is because of the reduction in emissions created over the car’s lifetime.
Reusing and recycling batteries is a growing market, and it is hoped that new research will reduce the lifetime environmental impact of battery manufacture.
Is electric car insurance cheaper?
In the past, electric cars have often been more expensive than petrol or diesel cars to insure due to the cost and availability of spare parts, and the common need for specialist repair works. However, as more electric and hybrid vehicles have become available, the cost to insure them has started to come down a little.
There are many benefits of electric vehicles, including environmental, financial, and performance. If you choose to make the switch, make sure you compare electric car insurance with MoneySuperMarket to get the best deal for you.