CarsElectric Vehicles

Investing In An Electric Car: 6 Top Tips To Save Money And The Planet 

The Tesla Model X SUV electric car charged at the public charging station with green energy to get ecological mean of transportation

Electric cars are skyrocketing in popularity, with many consumers turning to these cars as a cheaper alternative to vehicles powered by fossil fuels.

The sustainable nature of electric vehicles, coupled with the significantly more affordable running costs, make electric cars hugely desirable.  

In addition, the UK government plans to ban the sale of new fuel-powered vehicles by 2030, meaning anyone with a petrol or diesel car should start looking at electric alternatives sooner rather than later. There are many ways to save money using your electric vehicle while also reducing your personal carbon footprint.  

Keep The Battery Between 20 and 80% Charged 

Keeping the car’s battery at an optimal charge is crucial for its maintenance and longevity. While it may seem counterintuitive, it is best not to charge your car to 100% – instead, you should stop charging when it reaches 80%. Likewise, allowing your electric vehicle to run out of battery can be detrimental to battery health, so avoid letting the charge fall below 20%. 

Understand The Resale Value 

With electric car technology improving rapidly, many electric car owners find that their vehicle depreciates much faster than a fuel-powered car. This might put many people off investing in an electric vehicle, as they often come with a higher price tag than petrol or diesel cars. You should research the likely depreciation of an electric vehicle before purchasing and weigh this against the savings you will make.  

Consider Leasing An Electric Car 

If you don’t have the cash to buy an electric car outright or worry about the depreciation of an electric vehicle, you could consider leasing an electric vehicle instead. Leasing allows you to access the latest models without breaking the bank. Expert resources like the excellent explainer from LVelectriX can be invaluable to help you make the right choice.  

Look For Free Charging Stations 

There are a lot of charging stations for electric cars popping up around the UK. They can be found in supermarkets, service stations, and traditional petrol stations. Many of these charging stations charge money for the service, though this is not the case for all. It is a good idea to do your homework and find a charging station nearby that provides the service without fees, which can save you money on your energy bills.  

Get Government Help Installing Your Home Charger 

There are government grants available to help you cover the cost of installing an at-home charging station. While you can connect your car to a socket in the home or garage, it can take a long time to become fully charged. Having an at-home charger that provides rapid charge can be invaluable to help you make the most of your car, particularly if you use it a lot.  

Drive Your Car Regularly 

With any car, fuel or electric, allowing it to sit for extended periods without being driven can be bad for the health of the vehicle. To keep the car working properly, you should take it for regular trips. These can be as short or as long as you like; the important thing is to prevent the car from developing flat areas in the tyres and ensure that the brakes don’t rust. 

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Poppy loves personal finance almost as much as she loves her two cats, Tif and Taz.
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