> The results reveal that the cost of insuring these electric cars is indeed higher, but the difference is not as substantial as the headlines would suggest. The EV was actually cheaper to cover for one of our drivers.
Your £160/month on fuel over 2 years is £3,840. An EV charged on octopus would be at least a quarter of that, maybe less. So let’s say £960 - almost a £3k difference.
You can absolutely get second hand EVs for £11k - this seems to be at odds with your statement about low resale values too. The low residuals angle is being pushed hard at the moment but when I go looking all I see is standard depreciation on new vehicles.
I agree with your assessment of fuel prices and whatnot but I just checked Autotrader. I set 11k as the price, SUV body type and there are 63 electric cars to choose from. Over 40 are MG...
If I change it to Diesel I get over 11k cars available. 171 Santa Fe models.
The range on those MG's is about 180 miles too: 3 times this year I've driven to Aberdeen - I'd run out of juice on the way in the EV. I get just over 400 in my diesel.
The energy density of batteries isn't comparable to ICE cars.
You’re comparing older ICE vehicles with relatively new EVs. In a few years time you will have more choice of older EVs in the same age bracket as the ICE cars. The second hand market will be awash with Model Ys, Audi SUVs and more in a few years.
For long distance travel it’s a bit more complicated and you have to get your calculator out.
A quick look using ABRP suggests that a trip from Newcastle ( not sure where you’re coming from but that’s 380 miles) to Aberdeen in a MG ZS EV Long Range would require 1.5 hours of charge along the way, turning a 6 hour drive into 7.5. If you’re stopping anyway (I would) then it might not be a lot of additional time.
If you do that journey a lot, it might not be worth it. A few times a year it might be worth the compromise considering fuel costs saving the rest of the time.
If you filling up your diesel takes 10 minutes a fortnight then that’s 4 hours a year too. More if it’s out of your way. You save that if you charge an EV at home but spend it on long journeys.
You can also take the train or rent a car with the fuel savings and probably still be saving overall.
So it really depends. They are not a drop in replacement for every scenario but in some circumstances they do have benefits.
> The results reveal that the cost of insuring these electric cars is indeed higher, but the difference is not as substantial as the headlines would suggest. The EV was actually cheaper to cover for one of our drivers.
Your £160/month on fuel over 2 years is £3,840. An EV charged on octopus would be at least a quarter of that, maybe less. So let’s say £960 - almost a £3k difference.
You can absolutely get second hand EVs for £11k - this seems to be at odds with your statement about low resale values too. The low residuals angle is being pushed hard at the moment but when I go looking all I see is standard depreciation on new vehicles.
The “burn forever” thing seems to be getting pushed a LOT lately too. Strange when they are 20x less likely to catch fire in the first place and car fires are already pretty rare. https://thedriven.io/2023/05/16/petrol-and-diesel-cars-20-ti...