What is it like to have an EV?

Have you thought about going electric? EV technology and charging infrastructure has improved over time and is getting better. So, in many cases, making your next car an EV could make sense. To help you decide, here is more about electric vehicles to help weigh up what is right for you.

  • Watch this short video of some electric vehicle drivers we filmed at random.​
  • Correct as of October 2022. Opinions are not necessarily the views of Lloyds Bank. ​
Watch our video to understand more about electric vechicles
  • Three, four times a week, I would say. Just keep it topped up.

    So, it makes you have a break and stop driving for long distance anyway, which is quite nice.

    Because it's at work, I tend to do it on a slower charger. So, it's about an hour.

    A fairly low battery up to a fully charged one, it probably takes over an hour.

    Depending on how I need to go, 20, 30 minutes.

    About 220.

    So, a maximum 220.

    I get about 225 miles with a full charge.

    Averages about 200 miles of range.

    We were working it out, and I think it's something like 3p a mile.

    If I charge it at home overnight, it costs me 3 pounds to charge.

    The last time I charged here, it cost me 16 pounds. And that took me from 15% battery to 99% battery. No, I don't think so. They're so fun to drive.

    I mean the technology's gonna get better. It's gonna get longer range. They're gonna get more out of the batteries. So, no, probably not, actually.

    No, I wouldn't go back.

    Our next one is definitely going to be electric, so.

    I think most people who are skeptic probably never actually tried driving one.

    Just try it. Just get in one and try it, because the moment you do, you'll realize it's better.

    Obviously, you've not got that vroom, vroom, 'cause you've not got that, but you've got the power in it. You've got the speed, you've got everything that normal car does, but it just doesn't make a noise.

Electric vehicle fast facts

  • Electric Vehicles are powered by an electric motor that draws electricity from a battery. They are capable of being charged from an external source. 
  • An EV could be only powered by an electric motor (all-electric vehicle) or a PHEV (plug-in hybrid electric vehicle)  that can be powered by an electric motor and by an internal combustion.
  • They are considered greener when driving – as EVs have no exhaust emissions. However, EVs do have an impact on emissions when you look upstream at manufacture, as minerals are needed in order to create the batteries (e.g., lithium).
  • Electric vehicles could require less maintenance than petrol or diesel cars. (despite current fluctuations in petrol and energy prices). It's good to know, most electric car breakdowns are mainly punctures or issues with a 12v battery.2
  • With an electric car, you may also need to maintain or replace the cabin air filter (also known as a pollen filter), brake fluid or air conditioning.
  • They could be exempt from VED (vehicle excise duty). Only exempt until 2025.3
  • Ultra-low emission vehicles could have a national exemption (i.e., pure battery electric and any PHEV) from Clean Air Zone / Ultra Low Emission Zone charges. Some newer diesel and petrol cars can also be exempt.4

What you need to know

Electric vehicles are typically cheaper to run

You’ll be pleased to find out that an EV could cost you less over the course of ownership.5  Without taking into account the purchase price and any energy price fluctuations, an EV’s running cost (including refuelling/recharging, insurance, road tax, MoT and servicing) could be less than what you would expect to pay for an equivalent petrol or diesel car. Plus, with an EV you can take advantage of the many offers and subscriptions out there.

We’ve joined forces with an amazing business to help you get started.

They can help you with everything you need to know about driving greener, including:

  • home energy
  • home charging
  • public charging
  • parking.

Explore the essentials

How do EVs measure up to regular cars?

  • Range: 99% of car journeys in England are under 100 miles, according to the National Travel Survey, and many EVs today can do between 100 and 300 miles on a full charge.6 
  • If your workplace has a charging station, why not plug your EV in between meetings or during lunch? 
  • And if you are venturing further afield, your EV will give you plenty of notice before you run low. Then when you need to recharge, use your satnav to find a charging station.
  • Something to consider, you can use another independent sources of information, like the RAC, to help further deepen your understanding of Electric Vehicles. 

How can I find out if an EV would suit my lifestyle?

To start with, you’ll want to think about your driving habits and understand the practicalities of owning an electric vehicle.

  • How far can electric vehicles go? Many EVs today could expect between 100 - 379 miles on a full charge. That is a lot of pick ups, drop offs and work commutes, if you consider that the average car trip in 2020 was 7.9 miles (based on year where driving was impacted by Covid).7
  • How long does it take to charge an electric vehicle? Depending on the model, for many electric cars, you can charge to 80% in as little as 10-15 minutes, though an average new EV would take around an hour on a standard 50 kW rapid charge point.8
  • Where can I charge my electric vehicle? Despite six in ten non-EV drivers believing there are a lack of charging points nationally, there have been significant improvement to the Electric Vehicle public charging network in recent years with over 40,000 across the UK (source zap map).9

Finance your new or used EV

The cheapest way of buying a vehicle is cash or if you have 0% interest offer for a certain period and can are comfortable you can pay off your vehicle within the offer window. However, finance or leasing, particularly for a new vehicle could be a cost-effective way of getting an EV.

You can apply for Car Finance if:

  • you’ve had a Lloyds Bank current account for at least 3 months
  • you’re registered for Internet Banking
  • you’re 18 or over and a UK resident.

Want a quote? If you have a Lloyds Current Account, log on to Internet Banking for your personalised quote, with no impact on your credit score.

Log on to start a quote

Credit is subject to status and additional affordability checks.

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Insurance for your electric car

Insurance for your electric car

Our car insurance covers electric vehicles. You’ll get the following benefits:

  • Battery cover - whether your battery is leased or owned we’ll cover accidental damage, fire and theft.
  • Cable cover - your charging cable is covered for accidental damage, fire and theft.
  • Additional cover - with RAC Breakdown cover, all vans carry charging units to get you back on the road.

Some manufacturers may require you to have separate battery insurance.

Insure your car

Would you like to start saving energy at home?

Would you like to start saving energy at home?

If you would, our Eco Home Hub is a great place to start.

Here, you’ll be able to find out about borrowing options, grants and schemes to help you make your home a greener place.

Find out more at our Eco Home Hub

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).