It’s safe to say that electric vehicle popularity is on the rise. More and more people are making the move to electric in order to reap the seemingly endless list of benefits that a greener vehicle has to offer. But for many, electric cars are still seen as expensive and inaccessible.
It’s an understandable thought – electric cars are generally more expensive on the forecourt than their conventional ICE (internal combustion engine) powered counterparts. Then there’s the cost of installing a charging unit at home too. Plus, with rising energy prices affecting households all across the globe, the cost of charging also becomes a factor in people’s minds.
There are other concerns that people share too that aren’t necessarily directly related to cost, but can still contribute – the difference in parts and “newer” nature of the technology can sometimes make individuals feel a little more sceptical about reliability and the associated repair costs too. And let’s not forget about range anxiety and mid-commute charging…
But the reality is quite different. We’re going to bust some of these myths and tell you about an easier, more affordable, and more accessible way to join the electric revolution!
Ownership is outdated
Owning a car is pretty stressful, isn’t it? You hold sole responsibility for everything that happens with it, and all of the costs are typically going to be down to you too. Some of the costs might be bigger or smaller than others, but they can all add up to quite a significant number (and often be tedious and time consuming to keep track of):
- The cost of the car at the initial purchase, or any finance or credit payments for the car in question (which typically don’t cover anything else aside from the car itself)
- Any country-specific taxes, either when purchasing, or things such as UK road tax
- Insurance that’s generally a legal requirement to drive your vehicle on the roads
- Breakdown cover to make sure you’re not even more out of pocket when requiring assistance or recovery (these services will cost you a lot more without the cover)
- Any non-included warranty costs
- Repairs not covered by warranties or other cover, including things like services and tyres amongst other natural wear-and-tear parts, and legally required roadworthiness tests such as an MOT in the UK
These are some of the main costs that come with car ownership. Sure, one or two of them aren’t necessarily a necessity (like breakdown cover, depending on how trusting you are in your vehicle’s reliability and the potential for unexpected costs), but generally most of this will apply to anyone who owns a car. Then, like we mentioned above, there’s the whole problem of keeping track of them and dealing with the fluctuations in price.
Then there’s the times when you want something new. You either have to deal with sub-par valuations to get your existing car part-exchanged for your next vehicle, often leaving you out of pocket, or you have to endure the impossible task of selling your car on the private second-hand market and dealing with everything that that entails… It’s a pretty painful process whichever route you take.
The solution to the problems of ownership
Combatting the costs and stress of vehicle ownership is easier than you think. You could always go down the route of a typical long-term lease contract, but these have a tendency to tie you into more long-term contracts and will usually still have the headache of dealing with a bunch of extra costs to cover, much like buying a car on finance but without the car at the end of it. This isn’t your only option for beating the bad sides of vehicle ownership though. There are two other distinctive choices that let you drive a high-quality new car, but without any of the long-term commitments, they’re typically all-inclusive of costs, and are an exceptional way to get behind the wheel of an electric vehicle. That’s exactly why you’re reading this, right?
Short-term leases and car subscriptions are the perfect way to go electric
There’s nothing quite like the freedom of flexibility, and that’s exactly what a short-term lease or car subscription can give you. These take traditional lease contracts and do away with the majority of the downsides. One of the biggest benefits is that you’re not tied into long-term contracts with lengthy commitments for multiple years. You can take out rolling contracts that can be quickly and easily renewed on a regular basis, and they typically enable you to cancel or end your contract at any point as long as you adhere to a specific notice period. This makes them an ideal option for driving electric vehicles.
EV technology is constantly developing and progressing at a rapid rate, constantly working to tackle people’s concerns with electric cars and create a more accessible and effective form of transport. The flexible nature of a short-term lease and car subscription enables you to take advantage of this, allowing you to change your car on a regular basis in order to keep up with the latest tech and EV capabilities. You’re never tied to one vehicle for a prolonged period of time, so you’re always ahead of the curve.
These types of contracts also enable you to streamline your driving and vehicle management – car subscriptions in particular typically include everything you need to drive in one convenient recurring payment (usually monthly). That means for one easy-to-manage monthly fee, you’re likely to be covered for not only the vehicle you drive, but also breakdown and emergency assistance cover, taxes, maintenance (including servicing and tyres, minus some exceptions), manufacturer warranties, car/driver insurance, generous mileage allowances, and other provider-specific benefits. The only thing you’ll need to worry about is, in terms of an electric vehicle, covering your charging costs (which are typically much lower than fuel costs for covering the same range).
This is usually the same case for a short-term car lease too – the two are very similar in what they provide, mainly differing around how the contracts are setup. A subscription, as mentioned above, is usually based around a rolling monthly payment, whereas a short-term lease can be setup to work on a contractual basis that can be varied between 1-month leases and 12-month leases. Both options give you the flexibility to get behind the wheel of a car on your own specific needs without the hassle of long-term commitments.
Make the move to electric
With newer, more accessible ways to get your hands on an electric car without the worry of being tied down into a lengthy contract with a vehicle that may be technologically surpassed before your contract ends, there’s never been a better time to make the switch to electric. With impeding bans on the sale of new combustion engine vehicles ever looming, it’s time to begin thinking about joining the hundreds of thousands of people who’ve already made the move and take advantage of the huge range of benefits that both EVs and short-term leases/car subscriptions can offer you.
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