With the cost of living rising and petrol and diesel prices hitting record highs, many people are looking to electric cars to save money on their motoring – with the average driver saving £600 a year compared with driving a petrol equivalent*.
With many drivers feeling the squeeze at the pumps, the second-hand electric vehicle (EV) market continues to grow in popularity and size, with 14,586 used electric vehicles bought in the UK during the first three months of 2022, compared with 6,625 in 2021**.
A Chester car retailer can vouch for their popularity and offers four reasons why drivers should explore the used EV market – not only to drive in a more sustainable way, but to make long-term financial savings.
Mike Brooks, from Rybrook Chester on Sovereign Way, said: “The recent surge in the cost of living has forced many households to revaluate their finances and look at ways to save money, both in the short and long term.
“As petrol and diesel prices continue to rise, and more used electric cars enter the market, now is the perfect time to make the switch to electrification and benefit from the savings in fuel, insurance and tax that owning an EV brings. Here are four ways an EV will save you money:
- They’re cheaper to run
“On average, EV drivers pay £467.40 to charge their cars annually, based on driving 8,000 miles. By contrast, petrol and diesel drivers pay £1,199.40 to cover the same mileage – a 61% difference***.
“For a typical electric car with a 200-mile range, the average amount to charge from a home charging point is around £9.20****. Many charging points at supermarkets or car parks are free to use for the duration of your stay, while rapid charging points – which are normally found at motorway service stations – can cost around £6.50 for a 90-mile charge.”
- They’re cheaper to tax
“Since an electric car produces zero tailpipe emissions, they remain exempt from vehicle tax and congestion charges – which will be particularly noticeable if you’re switching from an older car with an annual car tax bill, which is typically more than £100. Although plug-in hybrid cars are still subject to car tax, the amount is often lower because they produce far lower CO2 emissions than a pure petrol car.”
- They’re cheaper to maintain
“All electric cars use some form of regenerative braking, meaning the electric motor helps slow the car down, while also putting electricity back into the battery. Braking, therefore, is more efficient because less pressure is applied to the brakes, allowing brake pads and discs to last much longer.
“Since electric cars typically have fewer moving parts than their petrol and diesel counterparts, they are also cheaper to maintain and potentially less likely to break down as they age – making them an excellent long-term investment.”
- There are more used electric cars than you think
“Electric cars still feel new and novel to some, so it can be surprising to learn that there are lots of used electric cars on the market, which is a great option if you’re keen to make the switch but don’t want to go for a brand-new purchase.
“If you’re considering purchasing a used electric or hybrid car, we’re hosting a Volvo Selekt Approved Used Car Event (Friday 10 to Monday 13 June), offering 0% APR finance on Conditional Sale and two services for £299. This is a fantastic opportunity to test drive our range of used electric cars, discover more about how they work, and hear expert knowledge from our team to make the switch to electrification an easy journey.”
For further information about Rybrook Chester or the Volvo Selekt event, call 01244 393909
