Is now a good time to buy an electric car?

So, you’re wondering if it’s worth buying an electric car?

Many people in the UK are currently considering the same thing. They want to know whether to stick with petrol or diesel for the time being, or is now a good time to buy an electric vehicle? We try to answer all your electric vehicles questions and more for you.

Much of the world is focusing on climate change and some governments are legislating for carbon reduction, so buying a petrol or diesel driven vehicle is unlikely to even be an option in a few years. But is now the best time to buy an electric car and opt for efficient driving? Or should you wait for technology to improve and prices drop? Let’s look at some of the factors that may influence your decision.

How much does an electric car cost?

The range of available electric cars to choose from is growing, both from traditional manufacturers such as Nissan and VW, but also newer brands such as Polestar and BYD. At the more affordable end, entry level options can cost as little as £15,000, at the other end of the scale brands such as Porsche and Mercedes offer a more luxury driving experience. 

Essentially, electric cars cost what you are willing to pay but the expense is no longer a deal breaker, and you can buy second hand for under £10,000. Our partners at the RAC have a very handy page where you can see the latest prices of the most popular electric car models.

Are electric car batteries expensive?

With second hand EVs you’ll have to consider several factors, most importantly battery life. Electric car batteries are generally designed to last as long as the car, but they do degrade over time, and they can be very expensive to replace. Industry data suggests the rate of degradation to be around 1-2% a year, and many manufacturers will offer warranties of up to 8 years or 100,000 miles, whichever comes first.

Is an electric car more expensive to run?

Whilst electric cars are generally higher in price than their petrol or diesel counterparts, they are cheaper to run with fewer moving parts that need replacing on a regular basis.

For example, brake pads and discs receive less wear and tear due to the electrified system and there's no need for gearboxes, clutches, exhausts and other parts that go wrong in conventional cars.

Do you have to pay road tax for an electric car?

From 1st April 2025 all electric cars are required to pay Vehicle Excise Duty (VED). The first year of vehicle tax payable under the new rules is £10, but from the second year onwards it will increase to the standard rate, currently £195.

Are electric cars safe to drive?

One issue that shouldn't be part of your purchase considerations is safety. Tests have shown that electric cars are as safe to drive as any other vehicle.

Advances in technology means new EV cars are being designed to withstand crashes as well as any other type of vehicle and many models have received high Euro NCAP safety ratings. You can buy with confidence knowing you and your passengers can feel secure on any journey.

How easy is it to charge an electric car?

Some people are put off buying an EV because they think they will be difficult to charge. However, the process is much simpler than they think and getting easier all the time thanks to an extensive network of charging stations expanding at pace across the UK and Europe. There are now around 75,000 charging points available across the country and apps are available that can help you plan your journey, so you never run short of power.

Can I charge an EV at home?

Home charging is even more convenient and becoming ever more viable. The average cost of installing a system is between £800-£1,200 which is worth taking into consideration when assessing the cost of an EV.  But it can be a fairly simple job to install the home charging unit and means you have a full battery for every journey and can take advantage of lower electricity charges at night. Workplaces are also increasingly offering charging stations to employees.

How far can an EV travel?

How far your car can take you with one charge will depend on your vehicle, but average battery ranges are increasing rapidly. Newer electric cars have a range of 300 miles depending the driving conditions, weather, vehicle weight and even your driving style.  

Is it expensive to insure an electric car?

Like any car you buy, you will need electric car insurance before you can hit the road. As electric car models tend to be newer, the prices are generally higher although these have come down in recent years. The specialised parts such as the battery can also increase the costs, but this is offset by the fact fewer parts tend to break down.

However, electric car insurance doesn't differ greatly from conventional insurance and will be based on typical factors such as the cost of the car, security measures and your profile as a driver.

The best thing to do is ask us for a quote and we will explain and let you know if we are able to provide cover that matches your needs.

Do I need breakdown cover for an electric car?

Good breakdown cover for your electric vehicle is a must and can help with range anxiety. Make sure your breakdown provider has charging equipment to give your battery a boost if required. Plus, the ‘4 wheels’ full-towing vehicle that all electric cars and vans require is also a necessity.

Is an EV battery covered under insurance?

A good electric vehicle insurer will also cover the battery and consider how you plan to charge your car. They’ll also take into account both the cables you use and the possibility of accidents if people trip up or injure themselves with those cables.

So, which car should I choose?

In the near future it's very likely we will all be driving electric cars. Whilst we still have a choice you may be holding off until prices drop on EVs and the technology improves even further. However, we have reached a point where buying an electric car does make sense in terms of the impact it has on both the environment and your pocket.  The choice is yours but we’ll be here to help protect you and your vehicle whatever you decide.