There has been plenty of excitement around the emergence of electric cars, however, very few people choose to purchase them outright. In this article, we cover some key challenges associated with electric car ownership and why an increasing number of drivers are opting for alternatives such as subscriptions.
In the UK one of the biggest deterrents for buying an electric car is the price. The most affordable new electric cars are priced at nearly £20,000 which in comparison to petrol and diesel cars this is considerably more expensive. Electric car prices are driven up by the battery technology that is made from quality materials and designed to hold a large amount of charge. Although purchasing an electric car can save you money, in the long run, the upfront cost can still be off-putting and many people can not afford or justify paying this.
If you’re aspiring to own a Tesla Model S, then you’ll be looking at paying in excess of £65,000 for the latest models. The lowest-priced Tesla’s (Model 3) start from £38,000, which is also similar to other cars on the market such as the BMW i3. It doesn’t look much better at the point of resale, as electric cars tend to depreciate more than other cars.
Hence, making an electric car subscription even more appealing, as paying a monthly fee gives you access to an electric car without having to pay a large sum of money upfront. Car subscriptions are becoming more popular and are perceived as being more cost-effective. No need to look any further Onto’s got you covered! We offer an all-inclusive subscription that makes driving an electric car more accessible, with prices starting from £339 per month.
Issues with repairs
You’ve just bought an electric car and find that there’s a problem. So you look to fix it yourself, but then realise that an electric car is constructed differently to a petrol car, therefore the knowledge you may have previously required is no longer applicable, apart from the simple things like pumping up a flat tyre or changing a used lightbulb, which remain the same.
You lack the knowledge to fix the car yourself, so will need some help. When looking for help you realise that there are limited people who know how to fix electric cars. If something goes wrong you will have to take your car to a specialist garage or a place where someone has specialist knowledge, meaning expensive bills.
Despite an upsurge in popularity, electric cars are still in their infancy, which means the infrastructure is still being built. There are far fewer specialist garages for electric cars so you’ll find you might have to travel a bit further to reach one. This is why we recommend our inclusive subscription which takes care of maintenance and repairs.
High insurance costs
Car insurance for electric cars is virtually the same as it is for other cars, except the prices, tend to be even higher.
These are some of the reasons electric car owners might pay higher insurance costs:
- Specialised parts are more expensive
- Specialist mechanics need to be hired to make repairs
- Batteries are costly
- There is the possibility that someone could trip over your charging cable, while you’re charging your car. But, liability insurance covers you for the damage of this.
- If you choose to lease your battery on a contract separate from owning the vehicle, then you should notify an insurance company, as this information will be needed if making a claim.
Extra cover needed
Leading on from the point above, you should have a home insurance cover. But, if you don’t already have it, then there’s even more reason to have it now, to eliminate the danger of not having protection in the case of a fire.
People want more flexibility
People are demanding more choice, from Netflix to eating out and even when selecting a method of travel. The reason why some people don’t want to invest in buying an electric car is that there are options that exist now for “trying things out”.
People don’t have to make as much of a commitment when they “subscribe” rather than “buying”, so they can choose a car to suit their lifestyle.
This trend has emerged from younger generations and since the mainstream use of the internet. When you subscribe to electric car services like Onto you can try a range of different cars to see whether you’re most suited to an EV with more range, futuristic tech or one that’s built for urban driving.
Therefore a car subscription can alleviate some of the concerns listed above and address shifts away from ownership.