7 Important Factors to Consider When Buying an Electric Vehicle

7 Important Factors to Consider When Buying an Electric Vehicle

Electric vehicles are currently the talk of the town. Their popularity can be gauged by the rapidly growing numbers: as of the end of October 2023, there were over 600,000 fully electric vehicles and more than 1,000,000 plug-in hybrid models in the United Kingdom.

People are becoming increasingly conscious about the planet and prefer more eco-friendly and energy-efficient options. Therefore, it's understandable why you might want to invest in leading electric vehicle brands and buy yourself an electric car.

Range and Charging Time of Electric Vehicles

One of the key factors in choosing an electric vehicle is its maximum range on a single battery charge. The range can vary significantly depending on the model and brand, from 150 to 400 miles. Compact city models usually have a smaller range, while more expensive and spacious electric vehicles can travel further without recharging.

Charging time is also an important consideration. Using a regular household socket, it may take from 8 to 12 hours to fully charge most electric vehicles. However, at specialized rapid charging stations, this time can be reduced to 30-60 minutes to reach 80% battery capacity.

Impact of Climate on Performance

Extreme weather conditions, such as very high or very low temperatures, can negatively affect the efficiency and range of an electric vehicle. Cold weather decreases battery performance, leading to a reduced range. In hot weather, energy is used for air conditioning inside the cabin.

Some newer electric vehicle models are better adapted to adverse climate conditions, but overall, owners should expect some loss of range in extreme conditions compared to moderate temperatures.

Other Key Points

However, simply familiarizing yourself with a list of electric vehicles is not enough. You need to conduct research since buying an electric vehicle is a costly affair. It is necessary to consider many factors, from the cost of purchase to maintenance and operational expenses.

1. Variety of Electric Vehicles

First and foremost, as a buyer, you should be aware of the different types of electric vehicles. There are generally three types of electric vehicles: fully electric (BEV), plug-in hybrid electric vehicles (PHEV), and hybrid electric vehicles (HEV). These vehicles differ not only in name but also in basic operating principles and driving.

2. Consideration of Lifestyle and Preferences

When it comes to what type of electric vehicle you need, consider your lifestyle and preferences. A vehicle will only be a good purchase if it meets your requirements. You cannot just choose any electric vehicle available on the market.

3. High Prices

The prices of electric vehicles are quite high compared to gasoline-powered cars. Therefore, remember that if you are planning to buy an electric vehicle, it will cost you more than a conventional car.

4. Availability of New and Used Vehicles on the Market

Electric vehicles have become so popular that they are in high demand not only on the new vehicle market but also on the used car market. If you cannot afford a new model, you might find an affordable option on the secondary market.

5. Regular Maintenance

If you want to keep your electric vehicle for a long time, you need to ensure it is properly maintained. You will be pleased to know that the maintenance and repair of electric vehicles are simpler and cheaper than those of internal combustion engine vehicles.

6. Incentives and Benefits

Many countries offer subsidies or grants that encourage people to buy electric vehicles. The UK's Zero Emissions Office offers four grants for purchasing electric vehicles.

7. Vehicle Charging and Expense Management

Vehicle Charging and Expense Management

One of the key aspects to consider when buying an electric vehicle is the availability and cost of charging, as well as the impact of climatic conditions on battery performance. Here is detailed information on each of these points:

  1. Availability of Charging Stations: Before buying an electric vehicle, it is important to assess how easy it will be to charge it both in your region and in places you regularly travel to. The presence of rapid charging stations on highways and regular stations in urban and suburban areas greatly simplifies the use of an electric vehicle in everyday life.

  2. Charging Costs: Charging rates can vary significantly depending on the location and time of charging. It is sensible to assess how often you will use paid charging stations and compare this with the costs of installing a home charging station, which may offer lower operational costs over the long term.

  3. Battery Performance in Different Climate Conditions: An electric vehicle's battery may perform differently depending on the surrounding temperature. In cold weather, more frequent charging may be necessary, and in hot weather, more intensive use of the cooling system is also likely, affecting the overall range of travel. Research how manufacturers adapt battery technology to your climate and calculate how this will affect your usual route and the overall cost-effectiveness of using an electric vehicle.

Considering these aspects will not only help you choose the most suitable electric vehicle but also minimize potential inconveniences and additional costs associated with its operation. Including this section in the article provides a deeper understanding of the importance of charging infrastructure and cost management when transitioning to an electric vehicle.

Cost Comparison of Ownership

Although the initial price of an electric vehicle is higher than that of gasoline alternatives, the long-term operational costs are usually lower. In a typical scenario of driving 12,000 miles per year, the cost for electricity would amount to about $500-600, whereas gasoline would have cost $1,500-2,000.

Maintenance of electric vehicles is also cheaper due to fewer moving parts. However, the replacement of the expensive battery over time can be a substantial expense.

  Electric Vehicle Gasoline Vehicle
Purchase Cost $30,000 - $50,000 $20,000 - $35,000
Fuel/Energy Cost (over 5 years) $2,500 - $3,000 $7,500 - $10,000
Maintenance (over 5 years) $2,000 $4,000
Battery Replacement (within 5-8 years) $5,000 - $7,000 -
Total Cost of Ownership over 5 years $39,500 - $62,000 $31,500 - $49,000

As shown in the table, while the total expenses for an electric vehicle may be higher than the initial price difference over 5 years, the gap narrows in the longer term due to savings on fuel and maintenance.

Future Technologies and Trends

Electric vehicle technologies are rapidly evolving. In the coming years, significant increases in range, reductions in charging time, and decreases in cost are expected due to advanced batteries and power systems.

There is also an anticipated expansion of charging station networks and the introduction of new models of electric vehicles in various classes and price ranges to meet growing demand. Some countries are considering phasing out traditional internal combustion engine vehicles to improve environmental conditions.

Electric vehicles represent the future of the global automotive industry. If you don't want to be left behind and appear outdated, not caring for the environment, now is the time for change.

Frequently Asked Questions FAQ

How long do electric vehicles last?

The batteries of modern electric vehicles are generally designed to last for 100,000-200,000 miles or about 15-20 years of use with proper maintenance. After that, an expensive battery replacement is required.

How is the resale of electric vehicles?

On the secondary market, prices for electric vehicles are relatively high due to their novelty and demand. However, it is expected that their market value will depreciate faster over time due to rapid obsolescence and battery degradation.

What are some potential issues with operating an electric vehicle?

In addition to reduced range in cold weather, concerns about battery fire hazards in accidents and insufficient charging stations on long-distance routes are frequently mentioned. At the same time, electric vehicles require much less routine maintenance.

Electric vehicles are the future of the auto industry. If you don't want to fall behind, now is the time to take a closer look at them. However, it is extremely important to consider all nuances to make the right choice of model that is right for you.

What incentives can I expect when purchasing an electric vehicle?

The incentives and benefits you can receive vary by country and region. But one thing is for sure: you will receive more privileges than someone purchasing a gasoline vehicle.

Governments provide such incentives to encourage people to switch to electric vehicles and contribute to protecting the environment by promoting eco-friendliness.

Are there electric motorcycles?

YES. The electric revolution is not limited to four-wheeled vehicles. Today, you can find an electric motorcycle or bicycle just as easily as an electric car or SUV.

So, if you're looking to head to the mountains and need a powerful, yet environmentally friendly companion, an electric motorcycle or bicycle would be the right choice.

Who are the leading manufacturers of electric vehicles in the USA?

If you want to know who the largest manufacturers of electric vehicles in the world's largest electric vehicle market are, leading names include automotive brands such as Tesla, Polestar, Rivian, Ford Motor Company, Lucid Motors, and General Motors.

Almost each of these companies has a global presence. Besides the American continent, they have huge markets in Europe and Asia.

So, wherever you live, you will be able to easily purchase models of electric vehicles from these brands.

What is the cheapest electric vehicle you can buy in 2024?

If you want to own an electric vehicle but are limited in funds, some automakers are making them more accessible to buyers.

This year, several excellent models of electric vehicles have appeared that are considered the cheapest electric cars of 2024, and we agree with this.

Here are the cheap electric vehicles you can buy in 2024:

  • Ora Funky Cat
  • MG4
  • MG5
  • Citroen e-C4
  • Hyundai Kona Electric
  • Fiat 500 Electric
  • MINI Electric
  • Vauxhall Corsa Electric
  • Mazda MX-30
  • MG ZS EV
  • Smart EQ Fortwo
  • Nissan Leaf
  • Renault Zoe
  • Citroen Ami