{"id":10059,"date":"2024-05-23T12:50:08","date_gmt":"2024-05-23T12:50:08","guid":{"rendered":"https:\/\/www.mouthymoney.co.uk\/?p=10059"},"modified":"2025-03-03T08:38:08","modified_gmt":"2025-03-03T08:38:08","slug":"is-now-the-right-time-to-buy-an-electric-car","status":"publish","type":"post","link":"https:\/\/www.mouthymoney.co.uk\/questions\/is-now-the-right-time-to-buy-an-electric-car\/","title":{"rendered":"Is now the right time to buy an electric car?\u00a0"},"content":{"rendered":"\n

Mouthy Money Your Questions Answered panelist, John Rawlings, answers a reader\u2019s question on the pros and cons of buying an electric car. <\/h3>\n\n\n\n
\"Is<\/figure>\n\n\n\n


Q Is now the right time to buy an electric car, or should I wait for prices to come down?\u00a0<\/strong><\/h4>\n\n\n\n

A<\/strong> When you\u2019re buying an electric car (EV), it\u2019s important to consider both the upfront cost and the running cost or cost of ownership.\u00a0<\/p>\n\n\n\n

Our data shows that the upfront cost is already coming down. People buying new EVs on our site were paying on average just over \u00a33,000 more for their vehicles six months ago than they are now.  <\/p>\n\n\n\n

But it has been widely reported that heavy discounting is likely to remain, as car manufacturers face increasing pressure to hit ambitious EV sales targets set by the government. And we expect an influx of EVs from Chinese brands, which will be priced very competitively. <\/p>\n\n\n\n

Generally speaking, electric cars cost less to run than petrol or diesel alternatives if you can charge one at home (don\u2019t forget to explore grants towards the installation of your chargepoint) – especially if you get an EV specific tariff and are clever about it, such as by charging overnight.\u00a0\u00a0<\/p>\n\n\n\n

\n

Ask our experts your money questions<\/a><\/p>\n<\/blockquote>\n\n\n\n

Savings on fuel can add up to a huge amount over the lifetime of your car – and you\u2019re likely to spend less on maintenance, as EVs have far fewer moving parts than petrol and diesel vehicles, so put simply, there\u2019s less to look after. <\/p>\n\n\n\n

There are also incentives in place for the time being to encourage EV adoption. But exemption from road tax (and the \u00a3310-a-year Expensive Car Supplement for cars listed at more than \u00a340,000) is something that\u2019s being discontinued from April 2025. However, realistically incentives won\u2019t be sustainable at scale as more and more people switch to electric; they\u2019re about encouraging early adopters. <\/p>\n\n\n\n

Suffice to say that the market is in flux. There is no crystal ball we can use to say for certain exactly what will happen to the cost of an EV – both upfront and in-life. But there are attractive incentives to take advantage of now, from discounts on the list price to in-life benefits like road tax exemption and grants towards charging facilities. <\/p>\n\n\n\n

Our advice is that if an EV appeals to you – whether you\u2019re motivated by doing right by the planet, or you\u2019re interested in the latest tech – there are plenty of compelling reasons to go for it. But if you\u2019re not sure, there\u2019s no harm in hanging on. Ultimately we\u2019ll all be driving one – it\u2019s just a matter of when individuals make the right move for them. <\/p>\n\n\n

\n
\"\"<\/figure><\/div>\n\n\n

John Rawlings is consumer editor at Carwow, the online car-changing marketplace. John has been involved with the car industry for over 25 years, from starting as a journalist at Haymarket Publishing (reviewing cars for their towing ability as Deputy Editor of Practical Caravan) to working in the PR teams at Vauxhall, Volvo and Volkswagen. As Consumer Editor, John is responsible for writing news stories and articles to keep car buyers and owners informed and up to date on everything they need to know about using or choosing a new or used car.<\/em> <\/p>\n\n\n\n

Photo credits: Pexels<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Mouthy Money Your Questions Answered panelist, John Rawlings, answers a reader\u2019s question on the pros and cons of buying an electric car.  Q Is now the right time to buy an electric car, or should I wait for prices to come down?\u00a0 A When you\u2019re buying an electric car (EV), it\u2019s important to consider both…<\/p>\n","protected":false},"author":119,"featured_media":10060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[1341,679],"tags":[10,108,508,65,64],"class_list":["post-10059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-budgeting","category-questions","tag-car","tag-electric-cars","tag-environment","tag-money","tag-savings"],"yoast_head":"\nIs now the right time to buy an electric car?\u00a0 - Mouthy Money<\/title>\n<meta name=\"description\" content=\"Mouthy Money Your Questions Answered panelist, John Rawlings, answers a reader\u2019s question on the pros and cons of buying an electric car.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mouthymoney.co.uk\/questions\/is-now-the-right-time-to-buy-an-electric-car\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is now the right time to buy an electric car?\u00a0 - 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