The cost of living is going up and for many, it doesn't seem to be stopping.
Energy and shopping bills are just some of the things that are going up in price. But so too is our fuel bills with many people starting to look into ways of saving money.
And whilst it's simple to start by cutting back on things we don't really need, people also need to look at how else they can be saving their money such as when it comes to their car.
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According to The Society of Motor Manufacturers and Traders, recent data has revealed that the UK's used electric car sales have more than doubled in the first quarter of 2022 compared to last year. And with the growing appetite for electric vehicles, it's understandable people will have questions before making the switch from petrol or diesel to electric.
In a bid to help, car finance experts at CarMoney have analysed the most Googled questions about electric vehicles - and have thankfully answered them. So what do you need to know?
Five most Googled electric vehicle questions answered
Andrew Marshall, Marketing & Partnerships Manager at CarMoney says: “For years, we’ve lived with and understood the cost and expectations of running fuel-based vehicles, so switching to an EV is unknown territory for most. With the cease in production of petrol and diesel cars looming ever closer, the interest in EVs is rapidly increasing.
"If you’re unsure whether investing in a fully electric car is right for you, hybrid vehicles are a popular choice. Hybrid means that the car runs both on battery power, and on fuel. This means that you make savings on petrol and charging costs, as hybrid batteries are self-charging and, when the battery is powering the car, the engine doesn’t consume fuel.”
1. How much does it cost to charge an electric car
Searches per year: 116,600
For most drivers, factoring in petrol costs into your budget is second nature. But charging an EV comes with its own price point. “How much does it cost to charge an electric car” is by far the most frequently asked EV question.
The cost of charging your electric vehicle is variable. Just as the cost of filling up with petrol varies between petrol stations and is influenced by fuel prices, the cost of charging at home, work and at a public station varies depending on the cost of electricity at those locations.
2. How long does it take to charge an electric car
Searches per year: 56,400
We know that filling up a petrol car takes no time at all, but charging times are significantly longer. The charging time is a point of concern for many, with “how long does it take to charge an electric car” being searched 56,400 times per year.
The time it takes to charge an EV depends on the size of the battery and the speed of the charging point. Typically, a standard electric car and charge point should take an average of 8 hours to fully charge from empty. However, the practice is to top up the charge of your EV rather than waiting for it to drain completely. Topping up can mean a 30 min charging time with a rapid charger, which can easily be achieved while at work, at home, or on the go.
3. How long do electric car batteries last
Searches per year: 13,200
Battery range and longevity are one of the biggest worries for prospective EV drivers. Understanding how far your charge will get you and how long your EV will last are fair considerations, so it stands to reason that there are 13,200 annual searches for “how long do electric car batteries last”.
Upwards of 10 years is the average lifespan of a lithium-ion battery, so you can expect your EV to last many years before you need to think about replacing it. As far as range goes, a typical 4kWh electric car should take you approximately 150 miles – for longer journeys you may have to stop to charge, but you should be able to complete multiple short journeys without the need to recharge fully.
4. How much to charge an EV at home
Searches per year: 7,200
Most people considering an EV prefer the convenience of charging at home. It means you can leave your car relatively unattended on the drive without having to wait for it to charge at a public station. However, with the rising cost of electricity, it does leave 7,200 searchers per year looking up ‘how much to charge an electric car at home UK’.
The latest figures show that the domestic electricity rate in the UK is approximately 28p per kWh. This means that a full charge of a 60 kWH EV would cost you around £15 – a rate much cheaper than traditional fuel such as petrol! You’ll find that domestic charging rates are much cheaper than public charging stations, too. Making the small investment needed to install a home charger worthwhile.
5. Electric Car Stocks
Searches per year: 2,400
The world of electric vehicles is a rapidly growing market, and those that are stock-savvy are looking to make investments in the EV industry. According to the experts, it’s a great time to invest in electric vehicles. Stocks in EV have corrected meaning that it’s a good time to carefully examine which EV stocks might benefit your investment portfolio. There’s still time to jump on the EV bandwagon before stocks become unaffordable.
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