Is it Worth Investing in an Electric Car when Self-Employed?

Are you currently self-employed and wondering if a switch to electric could be the right move? It is becoming more common to see electric cars on the roads with many motorists making the switch, but there are still many motorists which are hesitant however, and this could be for a few reasons. Read on to discover the main pros and cons of electric cars.

Pros

Zero Emissions

One of the most obvious benefits is that there are no emissions with electric cars. This is important because people need to find ways to reduce their environmental impact and this is one of the most effective ways to do this, plus it also allows you to avoid any charges in clean air zones (which are increasing). This means that it is a particularly smart investment for taxi drivers and those in similar businesses where driving in inner cities is a high proportion of the job, entering clean air zones on a regular basis.

Buying Incentives

Pricing is one of the main concerns (more on this to come), but you can actually benefit greatly from buying incentives thanks to a scheme from the Government which can save up to £3,000 off the price of an electric vehicle.

Fuel Savings

Following this, a major financial incentive is that you will make huge savings in terms of running costs as you will no longer have to fill up the tank which can be a big monthly cost to cover for many motorists. There is also no road tax with fully electric cars.

Cons

Lack of Charging Points

One of the primary concerns that people have when it comes to electric vehicles is a perceived lack of charging points. This may have been an issue a few years ago, but in 2020 there are twice as many electric charging points as there are petrol stations and the number is constantly increasing which means that motorists are never too far from one.

Range Anxiety

Following this, range anxiety has been another major issue. Obviously, it is less of an issue with the increasing number of charging points, but battery tech has also improved heavily in recent years. These days, electric cars can travel over 250 miles which should be plenty for most motorists.

Charging Time

Charging time is another issue and one which could be an issue for individuals and businesses. It can take a few hours to fully charge a battery (although this can be faster if you are willing to spend more), but if you plan your charges carefully then it should not be too much of an issue.

Upfront Cost

It can cost more upfront than a standard vehicle but it is important to keep in mind the amount of money that you will save on fuel and road tax along with the Government grant which will make it more affordable.

As you can see, there are many perks to electric car ownership and even the cons can easily be managed.

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