Should I buy an electric car?

As electric vehicles, often called simply EVs, whizz silently into the mainstream, you may be wondering if it’s time to make the switch. But such a move is, on the face of it at least, more complicated than, say, switching from petrol to diesel. You likely have questions: how far can an electric car go? Is it really affordable in the long run? And, most importantly, is an EV right for you?

We’ll delve into the pros and cons of electric vehicle ownership to help you decide if one will fit your driving requirements.

Assessing your needs

To understand whether an EV fits your requirements, you need to understand your requirements, so it’s worth asking yourself a few questions:

What’s your driving routine?

If you do a lot of short daily commutes or frequent city trips then an EV could be a great option, for reasons we’ll get into shortly. But if most of your driving involves serious mileage or frequent long road trips, you’ll need to think a bit more carefully because of limitations in battery range and charging infrastructure.

What’s your parking situation?

In an ideal world, you’ll charge your hypothetical new electric car at home for convenience and lower charging costs, so having a driveway or a garage is a significant bonus. While it’s possible to rely on public charging stations, they bring their own challenges. Again, we’ll go into this later.

What’s your budget?

As well as buying the car itself, you may want to think about a potential home charger installation. EVs usually come with a premium when you buy them, although running costs can be lower than equivalent petrol or diesel cars.

What are the benefits of electric cars?

Sure, electric cars are bang on trend, but there are numerous reasons why – EV ownership comes with numerous perks over traditional petrol and diesel cars. Here are some of the main ones:

Lower running costs

Charging an EV, especially at home, is typically cheaper than filling up with petrol or diesel. In the short term you’ll save on Vehicle Excise Duty (better known as road tax) too, although that changes in 2025. Maintenance is likely to stay cheaper, however – with fewer moving parts in an electric car, there’s simply less to go wrong.

A smooth and quiet driving experience

The inherent design of electric motors means that all the torque – that’s the oomph that makes  you go – is available as soon as you press the accelerator. There’s no need to rev the engine for optimum grunt, and that means EVs usually feel surprisingly quick to drive. And there’s no engine noise, either, which can make for a more relaxing driving experience.

Eco-friendliness

The exact impact that an electric vehicle makes on the environment is often up for discussion, but the latest scientific studies show that over a car’s typical lifespan, an electric car has a smaller negative impact than an equivalent petrol or diesel car. Day-to-day, there are no polluting exhaust emissions from an EV, which is better for local air quality.

Future-proofing

The UK is set to ban the sale of new petrol and diesel cars by 2035, so electric is definitely the future of motoring on our shores.

So, what are the drawbacks to EVs?

EVs are not perfect for everyone – at least, not yet. Here are some aspects of EV ownership to keep in mind.

Higher upfront costs

Generally speaking, EVs come with a price tag higher than equivalent-spec petrol or diesel cars. This used to be offset with a government grant when new – the Plug-In Car Grant – but that’s no longer available. So while running costs for electric cars can be considerably less, you may have to fork out a little more money upfront to get one on your driveway.

Charging infrastructure

The UK has had a comprehensive network of conventional fuel stations for decades, but the availability of public charging stations for EVs is far less comprehensive. It’s improving all the time, and some parts of the country are very well served, but others are not. This can mean longer trips require a bit of planning to ensure you can top up your battery.

Range anxiety

Worries over battery life and how many miles you can get from a charge is a big concern for would-be EV owners. As it turns out, this is usually less of an issue in real life, but with petrol and diesel cars often managing north of 500 miles per tank – and plentiful resupply options – a 200-300-mile battery range in an electric car can feel somewhat miserly in comparison.

So what do I need to consider?

These are the main factors you’ll need to weigh up when deciding if an electric car is right for you.

Range versus lifestyle

How far do you drive on an average day? If you’re staying in the city or making local commutes, even relatively modest-range EVs should suit you well. But for those on serious daily mileage, the challenges of finding places to top up en route – and the extra time that refilling a battery takes compared to a fuel tank – could be considerable.

Cost versus budget

You’ll need to weigh up the costs of an electric car and the subsequent running costs against your budget. Can you afford to pay more up front to take advantage of lower running costs? You may have to factor in both the car and a charger installation. (Of course, it would be remiss of us not to mention that electric car finance could help with the higher purchase prices…)

Charging where you live

If you can charge at home then that’s a big concern removed, as doing so is easier and cheaper than public charging. But if you don’t have a driveway, you’ll need to check where the nearest charging stations are and assess how convenient they’ll be for regular use.

What incentives are on offer?

While the UK’s Plug-In Car Grant is no longer available, there are other financial incentives to buying and owning an electric car.

Tax savings (for now)

At the time of writing, EVs pay £0 a year in Vehicle Excise Duty, but that changes in April 2025. New electric cars will still benefit from very low tax for the first year, but that’s built into the car’s new purchase price. After that, you’ll pay the same standard rate of tax as a petrol or diesel car, which is currently £190. Cars that cost more than £40,000 when new also have an extra tax applied for five years – currently £410 a year – for a total annual bill of £600. The good news is that older electric cars (registered between 1 March 2001 and 30 March 2017) will pay just £20 a year, so an older model could be financially appealing.

Company car benefits

Would your prospective EV be a company car? That could change things dramatically, because electric cars bring far lower benefit-in-kind tax bills than petrol or diesel cars, and could save you a considerable amount of money.

City and emissions perks

The number of areas in the UK that have incentives for EV drivers is on the up. In London, for example, EVs are exempt from the Congestion Charge and cost nothing to drive into the Ultra-Low Emissions Zone (ULEZ). Several other cities have similar policies, and as that trend continues EVs will become more and more cost-effective for urban drivers.

What are the alternatives to electric cars?

If you’re not quite ready to take the leap and go fully electric, you could consider a plug-in hybrid electric vehicle (PHEV). This, in theory, offers the best of both worlds – an electric motor and battery for a short electric-only range (usually between 30 and 70 miles, depending on the model) and a petrol or diesel engine that can kick in when the battery runs low. This goes a long way to alleviate range anxiety.

PHEVs are generally more expensive than petrol or diesel cars but cheaper than pure electric models. They’re not a perfect solution – two power sources mean a lot of weight, so once the battery runs out, they tend to be less efficient than a regular petrol or diesel machine. However, if you keep the battery topped up and do mostly short journeys, they can provide a useful solution and peace of mind for longer journeys.

Should I buy now or wait?

EV technology is evolving at a rapid rate, which means it can be tempting to wait for The Next Big Thing. However, prices are unlikely to drop dramatically, and as EVs become more popular you may miss out on current tax breaks or incentives. If an EV suits your lifestyle and you’re prepared to embrace the fast-approaching future of motoring, it may be better to take the plunge sooner rather than later.