Is now the right time to switch to an EV?

It’s always tricky to work out when the ’right’ time is to make the change to an electric car. However, with petrol and diesel prices at sky-high levels, changing to an EV could have a positive financial impact. Here at My Electric Lease, we’ve got a wide range of electric cars available, so there’s never been more choice than there is right now. 

But if you’re still on the fence, what could you consider to make the decision a little easier? Let’s take a look.

Driving habits

One of the best places to start when on the electric car buying journey is assessing your driving habits. On average, drivers travel between 20 and 40 miles each day, which means that the majority of electric vehicles that we currently have on sale here at My Electric Lease would only need charging once a week to meet those targets.

Electric cars also offer smooth, nippy acceleration, which makes them great to drive around town. So if you’re often heading into the city or navigating traffic, an EV could help to make your journey a lot more comfortable. 

Charging provision

How easily you can charge an electric car makes a big impact on the whole ownership experience. If you’ve got off-street parking with a garage or driveway available to you, then you should be able to get a home charger installed quite easily. Costs vary, but you can expect to pay between £700 and £1,000 for both the unit and the installation. Once you’re up and running, you can take advantage of low rates of home electricity that can make running an electric car very cheap overall.

However, if you don’t have off-street parking, then there are still options - you just need to do some research. Use charger mapping services to look around your home for public charging stations or, if possible, take a look into cross-pavement charging ‘gulleys’ which might be available for your street. You’ll need to check with your local council before installing these, too. 

Frequency of long-distance trips

While the ranges of electric cars have continued to rise over recent years, for some it stil may prove to be a stumbling block. However, if you’re mainly doing shorter journeys, then an EV could be a great choice, and even if you have a handful of longer trips each year, then the cost savings that an electric car can bring could be enough to outweigh a little extra time spent topping up when doing big distances. 

That said, if you’re doing long-distance trips day in, day out, then you may want to consider a different option. A hybrid or plug-in hybrid can still bring some form of electrification, but with a petrol engine in the background. You’ll find plenty of hybrid and plug-in hybrid options here at My Electric Lease too. 

Maintenance costs

What are you spending on repairs and maintenance on your current car? With an EV, you can bring down that spending thanks to lower overall servicing costs. Electric cars have fewer moving parts than a combustion-engined car, and so you can say goodbye to oil changes and filter replacements. You’ll also not have to worry about issues such as exhaust changes or belt swaps. 

It can be a good idea to look back and see how much you’ve been spending on standard repairs in order to see how an EV could help to save you money further. 

Think an EV could be the best fit for you? Take a look at our current offers today here at My Electric Lease.