What buyers should consider before switching to an electric vehicle. Photo Credit: Michael Marais / Unsplash
OUT with the old, and in with the new: Consumers are already looking forward and planning ahead for their next major purchases for this new year, and those include the idea of switching to an electric vehicle. But when it comes to purchasing a vehicle – and especially an electric one – buyers face an information overload problem that could make it confusing to separate fact from opinion.
For this reason, it is important to know the basics of electric vehicles before actively shopping for one … and the major caveats that come with owning one.
How are electric vehicles different from traditional diesel or petrol cars?
Electric vehicles (EVs) are powered by chargeable electric motors using energy stored in their battery, a stark difference to traditional cars, which use internal combustion engines and burn petrol or diesel. This means EVs have no fuel tank, exhaust, or combustion engines and have a less complex mechanical system than a regular car.
Are electric vehicles more environmentally friendly than a traditional car?
EVs have zero tailpipe emissions, unlike traditional cars which produce carbon dioxide, NOx gas, and particulate emissions that directly contribute to air pollution and climate change.
However, while EVs are unquestionably better for the alleviation of local air pollution, their overall emissions depend on how the electricity is generated, and the process of mining the rare earth metals in order to create their batteries is a process that is significantly bad for the environment as well.
How does the driving compare?
Whereas traditional cars build acceleration more gradually, EVs deliver instant torque, making the acceleration smooth and quick. Additionally, EVs are much quieter than a traditional car, since it has no engine nor are multiple gears needed, and experience much less wear and tear than a traditional diesel or petrol car.
The cost overview: Which is more expensive?
Upfront cost
EVs have a higher upfront cost than a traditional car, but they are cheaper to “fuel,” making them generally a more cost effective choice in the long run, especially with soaring fuel prices. Additionally, fewer moving parts means lower maintenance costs than a petrol or diesel car, which require regular servicing and maintenance.
Servicing
When the EV does need to be serviced, vehicle owners may find that it is still pricey, though not typically pricier than traditional servicing. If the EV’s battery becomes damaged, they can cost a pretty penny; in some cases, the cost of a new battery can reach more than €11,500.
Tax exemptions
When it comes to taxes, owners of EVs benefit from several tax exemptions in Spain, including a 15 per cent deduction on the buyer’s personal income tax, or IRPF, when they buy a new electric vehicle for private use. EV owners are also typically exempt from having to pay a registration tax based on carbon dioxide emissions, since they emit less than 120 grams of carbon dioxide per kilometre.
Insurance
EVs can be very expensive to insure due to the necessity for specialised parts, higher replacement cost, or limited data for pricing. The insurance cost can also depend on the area, so it is best to gather various quotes from local companies before making a decision.
Depreciating value
Interested buyers should also tread carefully when considering buying a used car, as older EVs can have much smaller driving ranges than new EVs. Additionally, the level of battery degradation should be checked and taken into account before purchasing a used EV.
What about having to charge it?
One of the main points of contention when it comes to EVs is that they need to be charged. Interested buyers could purchase a home charger to be installed in their garage, or charge their vehicle at a public charging point, but the time the car takes to charge could vary vastly, from minutes with a fast charger to hours with home chargers. Public charging stations are also much less common than a traditional petrol station, potentially causing problems for long journeys or those who indulge in road trips.
Charging the car at home is the most cost-efficient way to refuel EVs. However, they require the correct setup, room, and a dedicated driveway.
How far can an electric vehicle drive?
Speaking of road trips, the typical range of an EV per charge is 250 kilometres to 500 kilometres, making planning for long journeys essential. Traditional cars can travel for a longer amount of time, and the refuelling process is quick, painless, and simple. If you are a person who regularly drives long distances, EVs may not be as cost-saving – or practical – as they seem.
Bottom line
Before deciding whether 2026 will be the year to take the leap and purchase an EV, each buyer should consider their own circumstances carefully, from the most individual standpoint, like their personal finances, to broader factors, like their town’s infrastructure.
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