Is it a good time to buy an electric car?


However, electric vehicles are generally more expensive to purchase and insure than their gasoline and diesel counterparts. The all-new electric Fiat 500 will set you back £ 24,995 after the £ 3,000 government grant, almost double the price of a gasoline-powered model, and the iX3 costs just under £ 55,000, while the BMW X3 starts at just over £ 40,000.

Insurance groups are based in part on the cost of a car, so high purchase prices and the potentially higher cost of spare parts mean premiums are likely to be higher. Servicing an electric vehicle should be cheaper than a gasoline or diesel car because there are fewer mechanical parts, but electric vehicles can wear out the brakes and brakes more quickly, and some rely on specially designed tires that may be more expensive to replace, so you will need to make sure you can afford these additional expenses.

According to market analysts, sales of electric vehicles are expected to increase exponentially over the next few years; Bloomberg predicts that one in five new cars sold will be electrified by 2026. This and continued improvements in battery technology should help drive prices down.

Before Kia e-Niro 2021

We have also received a small number of reports from owners of serious electrical issues with electric vehicles. A reader told us that his Kia e-Niro had a problem with his heater, which meant he couldn’t use the car until a spare part was bought overseas, and a another said his Volkswagen ID.3 suffered several software issues. With all the new tech on electric vehicles, there is a school of thought that it’s best to wait until a new model goes on sale for a few years, so that all starting issues have been sorted out by the time of launch. ‘purchase.

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