by Quentin Willson
As petrol prices continue to rise and emissions-linked road tax increases, electric and hybrid vehicles are becoming more popular. With multiple manufacturers competing for your business, let’s look at what to consider before going electric.
Affordability of electric vehicles (EVs) is often a concern. However, prices for new Evs are coming down (although they’re often higher than those for petrol and diesel cars) and used EVs can work out cheaper than a conventional car. Here’s how:
If you purchase a 3 year old, 25,000 miler Citroen C-Zone/ Renualt Zoe for £6,000* and own the vehicle for 3 years driving 6,000 miles per year could save up to £5,550**.
£4,500 in fuel
£300 in tax
£750 in servicing
Approach buying a used EV as you would buying any car. Look out for
It can be worth asking your local dealer to hook up any prospective purchase to their diagnostic machine and, if you’re buying directly from a private owner it’s worth asking how often they’ve used rapid chargers. Charging an electric car twice a day, every day on a rapid charger can degrade battery life by one per cent a year. Slower, regular home charging tends to retain battery efficiency.
Early negativity about battery packs failing has not materialised. Battery failure rates are nowhere near predicted levels and 150,000-mile EVs like Nissan Leaf Taxis are coming off fleet with 98% battery efficiency***.
What’s more, car manufacturers have deliberately factored in long battery warranties, transferable to new owners, as standard on new EVs.
According to Glass’s Guide, the gap between EVs and normal car residuals is narrowing and more clean air legislation and benefits like free parking for EVs will increase their appeal in the re-sale market. Whilst high new car prices means high depreciation in the first couple of years, by years four and five, there isn’t much between EVs and normal vehicles. For example: A BMW i3 will retain 40 per cent of its value after three years and 60,000 miles and a Tesla Model S 43 per cent; both close to the second-hand values of a conventional BMW 3 and 5 Series****.
The used-EV market is so new that there isn’t an established route for buyers yet, although dealers will have a selection (particularly Nissan, BMW, Toyota and Renault) and there’s a few EV-only buying sites. Prices vary wildly and you really can spot bargains. Remember it’s currently a buyer’s market and negotiation is expected.
*Based on average prices posted on www.autotrader.com
**Compared to a similar sized supermini over three-years, 30,000 miles old
**** based on figures from Glass’s Guide
Specialist EV buying sites include:
Some EVs can also be found on sites like:
You can get more data on battery efficiency and plan your journey with Route Monkey
Get more information on trading vehicles on Glass’s Guide
Find your nearest charge points on Zap Map