Electric vehicles

If you’re thinking of switching to an electric vehicle (EV) as part of a green and sustainable lifestyle, carry on reading to find out more before you choose your next car.

What's it like to have an electric vehicle?

 

 

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's more about electric vehicles to help weigh up what is right for you.

  • Watch this short video (3 min 12 secs) of some electric vehicle drivers we filmed.​
  • Correct as of October 2022. Opinions are not necessarily the views of Lloyds. ​

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.

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1. Is an EV right for me?

Why should I consider buying an EV

Electric cars are proving more popular, with Electric Vehicles (EV) sales increasing year on year.

There’s a wide range of vehicle types and styles, both new and used. The main factors you need to consider are range, charging options, charging speeds, budget, and vehicle size or type.

Answer questions about your lifestyle and charging capabilities to see which option suits you best.

Keep in mind though, that this tool is just a guide, and no matter what the outcome, we’d still encourage you to do more research to help make your decision.

Start

Do you have off-street parking?

If you have off-street parking, you can get an EV charger installed at home, either on an exterior wall or in your garage.

The average cost of a home EV charger, including installation, is between £800 and £1,000. 

Yes No

Could you get home chargepoint installed at your home?

If you have off-road parking, your best option is to install a home charge point. This is a wall-mounted, weatherproof unit attached to the outside of your home, or inside a garage, that provides a plug-in point for your car’s supplied charger.

This charge point is relatively easy to install and runs from your home’s domestic supply. Modern or refurbished apartment units that include parking may also provide charging points.

Home chargers typically operate at 7KW, which can charge a typical 60KWh car battery fully in under eight hours. It makes sense for users to sweep the market for the best deals, as some tariffs provide cost-efficient off-peak rates.

More information on the cost of charging - Black Horse.

Installation and cost of a home Electric Vehicle charger - Black Horse

Yes No

Do you have access to a local charge point for regular use and charging?

If you don’t have off-road parking, you may have access to charging points installed within lampposts or other roadside units. But there are lots of other options available too - chargers can often be found at supermarkets, gyms, and retail parks.

In addition, most service stations now offer EV charging points.

Where do I charge an EV? - Black Horse

You can also see your nearest charge point using Zapmap

Yes No

Do you have access to a second car that uses petrol or diesel?

If there’s a second petrol or diesel car in your household that you could have use of then an electric car could be a good choice for the majority of your journeys.

For those longer distance journeys, driving your second car could then be an alternative option.

Yes No

In an average week, how many miles do you travel?

It’s worth measuring a typical week’s driving, to make sure you select a vehicle with sufficient range. EVs can manage between 100 and 300 miles per charge.

What does range mean? - Black Horse

Your answers indicate that you could be suitable for an EV.

Based on what you have told us, you have access to a convenient charge point, and there are electric vehicles that have a suitable range for you day-to-day life. Now it's just a case of choosing the right one.

It’s important to thoroughly research your options before choosing to drive an electric car.  This tool is a guide, and should not be used as a sole reason for your decision

There are a wide range of electric vehicle types and styles, both new and used. The main factors you need to consider are range, charging options, charging speeds, budget, and vehicle size or type.

Your results indicate that an EV may not suit your needs right now.

But, this calculator is only a guide and the UK’s electric vehicle landscape is constantly evolving. Thousands more charge points are being installed every year and new models are coming to the market with longer ranges and faster charging, so you could be ready for an EV sooner than you think.

Your charging circumstances or mileage requirements may make an EV less suitable for you right now. However, particularly if you are a high mileage driver, we would recommend researching longer range EVs which could suit your driving behaviour. Our EV hub - Black Horse has lots of information to help you to help you transition if you find a vehicle that suits you or your circumstance change.

If you decide an EV doesn’t fit your lifestyle at the moment, you could consider a plug in hybrid car which can run on electricity and uses petrol or diesel fuel as a back up. 

This means you can take advantage of the electric battery for shorter journeys, charging when you can, while still using traditional fuel for longer journeys or on the occasion you can’t reach a charge point. Plug in hybrids can also be a brilliant option for transitioning from traditional fuel cars, into a fully electric car in future, if you aren’t completely comfortable with the idea yet. You might find you love using the electric mode, and decide to opt for a pure electric car in the future.

 Whatever you decide, we have over 4,500 approved Black Horse finance dealerships across the UK with a wide range of new and used electric vehicles to choose from. They can answer any additional questions you may have, help you to choose your vehicle, and arrange your finance. Black Horse finance dealer.

Electric car grant

 

Save when you switch to electric

On 15 July 2025 the Department for Transport (DfT) announced a £650 million scheme to support the transition to zero-emission motoring.

  • Up to £3,750 discount when you upgrade or switch to electric.
  • No extra paperwork for you.

Grant details on GOV.UK

  • The grant varies based on government-defined sustainability criteria. All cars must have an RRP below £37,000, and funding will be allocated on a first-come, first-served basis.

    The most environmentally friendly cars, in band 1, will receive up to £3,750 discount. Band 2 cars will receive up to £1,500 discount.

    Car manufacturers, dealerships and the government will handle all administration. This means you won't need to fill in any extra paperwork.  

Electric vehicle fast facts

  • Electric Vehicles are powered by an electric motor that draws electricity from a battery.
  • They're capable of being charged from an external source. 
  • An EV could be only powered by an electric motor or be a hybrid vehicle that can be powered by an electric motor and by an internal combustion engine.
  • They're considered greener when driving, as EVs have no exhaust emissions.
  • EVs do affect emissions when you look upstream at manufacture, as minerals like lithium are needed to create the batteries.1 Batteries can also be difficult to recycle.2
  • EVs could need less maintenance than petrol or diesel cars, despite current fluctuations in petrol and energy prices. 
  • Most electric car breakdowns are mainly punctures or issues with a 12v battery.3
  • 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.
  • Ultra-low emission vehicles - such as pure battery electric and any PHEV - could have a national exemption from Clean Air Zone or Ultra Low Emission Zone charges. Some newer diesel and petrol cars can also be exempt.4,5

What you need to know

Electric vehicles are typically cheaper to run

An EV could cost you less over the course of ownership.6  Without taking into account the purchase price and any energy price fluctuations, an EV’s running cost could be less than what you would expect to pay for an equivalent petrol or diesel car. This includes refuelling, recharging, insurance, any taxes, MoT and servicing. Plus, with an EV you can take advantage of the many offers and subscriptions out there.

Electric and hybrid cars

Discover the different types of EVs and hybrid cars, including average ranges and how to charge up.

Electric car guide

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It's simple in the app

You must be registered for online banking to apply in the app.

Once you're in, select Apply, Loans and Car finance, then Car Leasing.

Get the app

Or you can register on our website.

Already bank online?

We'll take you to the right place to get started.

Log in to get a quote

Explore your options

We want to make sure you know about other ways we can help you save energy. 

Eco home hub

Would you like to start saving energy at home? The 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 eco home hub

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  1. Nature Sustainability
  2. MIT Climate Portal
  3. The AA
  4. GOV.UK
  5. TFL
  6. Auto Express