Are Electric Cars the Future

Thursday, October 18, 2012

Are Electric Cars the Future

With all the buzz about electric cars in the media and a host of manufacturers revealing plans to launch new electric cars as part of their range, you may be thinking of swapping your car for an electric model, but what difference will it make to your life and is it worth taking the plunge?

Electric cars: things to consider

Electric cars have been branded as the future of motoring - but are this really true? Electric cars are becoming more popular as a result of their efficiency and environmental benefits, but they may not be the most practical solution. For a battery-charged electric car, for example, you will need to make sure that you can park your car close to a mains point, so if your home does not have off-street parking, this could be the first hurdle you encounter.

The second thing you need to consider is your mileage. Electric cars are designed for short, regular trips, so if you commute or travel to take children to school or go to college on a daily basis, for example, this may be a good option. Most commuters travel less than 50 miles per day and their routes are well-known and well-maintained.

Electric cars are relatively new, so if you are looking to buy an electric car it is likely that you will have a fairly limited choice of new or almost new vehicles, which will of course be more expensive than buying a second-hand car. The base price of electric cars is also much higher than traditional fuel cars, so you will need to think about this when considering which car to buy.

Affording an electric car

Electric cars are expensive and there are very few second-hand models because the range of cars is still fairly small and the cars have only been in circulation for a couple of years. There are grants available to help towards the cost of an electric car and it is worth doing some research to see if you are entitled to claim money towards your car.

If you want to invest in a new car, a variety of options should be considered. You could take out a personal loan from a bank and buy the car outright or you may wish to put down a deposit and pay monthly instalments as part of a finance plan. The only problem with electric cars is that there are not many, so it may be difficult to buy one on finance.

Is it a good idea to go electric now?

At the moment electric cars are an expensive option and the costs are likely to be higher than traditional cars until 2030 according to car industry experts. If you are looking to get a new car and if you want to make a conscious effort to be greener, a hybrid may be a sensible option for now. You can always decide to switch to an electric car in a few years when there are more vehicles and models on the road.


The question of whether electric cars are the future is yet to be answered, as is the future developments in car credit and will be many years yet, and many other advances in the technology, before we can decide if the future of motoring is electric.

Author’s Bio: 

This guest post is written by Richard - or writer-rich as he is also known. He writes on finance issues, motoring and hopes to give you the financial knowledge to succeed.

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