Is Buying a Used Electric Car Viable?
The surge of electronic development over the past few centuries has changed every aspect of our lives. Our means of transport is no exception, with electric cars rapidly gaining support and popularity. During 2018, there were 60,000 electric vehicles registered in the UK. This increase is all in preparation for the UK’s ban on all new petrol and diesel cars from 2030 onwards.
While the benefits of electric cars are well documented, especially in regards to emissions, should the public look into purchasing used electric vehicles if they’re in the market for a new car? Here, used Citroen C1 dealership Motorparsk take a closer look into the market for used cars.
The used car market
While the UK’s used car market faced a decline over the previous year, the electric and hybrid vehicles experience a rise of 27%. In response, SMMT Chief Executive, Mike Hawes, shared his opinion: “It’s encouraging to see more used car buyers snapping up low-emission vehicles as supply grows — but those sales remain low as an overall proportion of the market. We still need the right policies and incentives from government to give new car buyers confidence to choose the cleanest petrol, diesel and electric models that best suit their needs, so that even more drivers can benefit from this exciting technology as it filters down to the used market in the coming years.”
Benefits of buying a used car
Realistically the reason we all would buy used is for the reduced price. If money is tight, then a used car ticks all the boxes. New cars are still popular, and rightly so thanks to the constant updates in technology and safety measures. But with approximately 20% of a new car’s value being immediately lost when you drive it away, it’s led to almost three used cars being sold to every new vehicle in the UK.
What else can you benefit from when buying used rather than new? Nowadays, factory warranties are even longer than before, meaning that the appeal of buying a used car can be enhanced by their longevity. Also, all the gadgets the you often pay extra for when buying new may well already be in a used vehicle and this too will come at a fraction of the cost compared to buying it new.
Used cars can be driven straight from the site of purchase. This certainly isn’t the case when it comes to new cars, with your car needing to be specifically ordered and, depending on your choice of extras, this could take several months. With a used car there is no waiting period. Simply pay your money and drive on by.
Car insurance is much cheaper for vehicles that are. This is because there is obviously a lot more equity at risk if you’re involved in a crash. Therefore, you may find that you don’t have to fork out as much on your policy if you choose a used car.
Why choose a used electric car?
According to a survey, the majority of UK drivers would be open to buying a used electric vehicle. It’s thought that we are becoming a lot more trusting of a battery’s longevity than we previously were. Many of the reasons for going down this route are the same as buying new, including the positive impact these vehicles have on the environment compared to petrol and diesel cars. The main stumbling block for the quarter that baulked at purchasing a second-hand EV was due to the price.
Technology has improved greatly, to the extent that electric car batteries don’t need to be replaced for 10-20 years equalling a distance of around 150,000 miles – longer than most people keep a car for. Experts say that manufacturers have now proven themselves and this sector, giving prospective buyers more confidence in buying a used vehicle.
The main selling point of an electric car is its low level of carbon emissions. In addition, an increase in EV charging services from suppliers such as Northern Powergrid and the increased availability of charging points has meant that the market looks set to take off in the UK.With a rise in new electric vehicle sales, we will undoubtedly also see an increase in used sales in the run-up to the ban on new petrol and diesel models.