Want to go Electric on a Budget? Choose a used EV!

With inflation increasing and the cost of living on the rise, the demand for electric cars is only going up. Electric cars are slowly taking up more and more of the market, seeing the EV share of the market rising by around 27%.

Choosing an electric car is beneficial for many reasons. How can you move towards greener options while sticking to a budget? Buying a used electric car might be your best option.

According to an analysis that underlines the rapid growth in demand, as of June 2022, the number of electric cars sold in the UK surpassed half a million. This has soared in comparison to 2019 when fewer than 100,000 units were sold.

This figure means that fully electric cars count for 1.2% of the 40 million cars on the road and, with regulations on Carbon Dioxide emissions only set to tighten and the impending bans on petrol and diesel by 2035, this number is only expected to climb.

June 2022 also saw a steep incline in the purchase of used electric cars and a rapid decline in the purchase of petrol and diesel options. On average, a used petrol car took over 33 days to sell and a used diesel took around 35 days. This is in comparison to a used electric car which took, on average,  around 27 days to sell.

Seven electric vehicles topped Auto Trader's fastest-sellers rankings for used cars in June. A nearly new MG5 (less than 12 months old) took the top spot alongside the Mini Electric, Tesla Model 3 and the Hyundai Iconique. This ranking has seen a dominating leap from 2021 which saw the Kia E-Niro as the highest-ranking EV coming in at a lowly number 86. 

Opting to buy used is already a great option to save your pocket some pennies. Choosing to buy a used EV takes it one step further, potentially saving you over 42% on buying new!

Choosing to purchase an EV also saves you money when it comes to the running costs of the car. With petrol prices continuing to soar, charging an electric car is much cheaper. More and more places are offering free slow charging points on-site so you can charge while shopping, seeing a movie or while at work.

Auto Trader's director of data and insights, Richard Walker said due to better range and greater choice, electric vehicles are very much in the public eye. And, with no end in sight for the fuel price hike, making the switch to electric is becoming more and more appealing. This is especially true as the average EV driver can save around £176 per 1,000 miles using a home charger.

Electric cars in general are less likely to have parts worn out due to use as they have fewer moving parts. The result is fewer trips to the garage and more peace of mind that everything in your car is running as it should.

When parts do inevitably start wearing out and repairs are needed, our EV specialist-trained technicians are on hand to undertake any needed repairs. All of our technicians are manufacturer-approved so are consistently trained in the latest electric technology. As electric cars develop, so do our technicians.

When electric cars were first in development, the batteries couldn't last very long without being replaced, causing the possibility of an expensive outlay on pre-owned electric vehicles. This has changed over recent years, with the average battery covering around 150,000 miles in its lifetime and only needing replacement every 10 to 20 years. This makes used electric cars a great option for longevity.

To add to the benefits, manufacturers are increasing their car warranties, meaning that your car is covered for a longer time. The manufacturer warranty is often carried over and still valid on used cars, including EVs, so your car may still be covered and for longer.

MG and Kia both offer a 7-year warranty on all new cars as standard so that their customers drive away with peace of mind that they are completely covered. When purchasing a used EV, the warranty is rolled over to the new owner, meaning that you can enjoy the car with minimal worry by taking advantage of the continued warranty.

Choosing a used EV at Chapelhouse further provides peace of mind because you can be sure that your car will come with a minimum of 9-month MOT and free MOT for life.

Unlike petrol and diesel cars, an EV doesn't produce any pollutants that contribute to global warming. They do, however, have a slightly larger initial carbon footprint or 'green premium' when they are built. For long-range electric cars, this is offset around 18 months of driving.

With a used EV, you haven't contributed to the initial carbon print of buying and therefore building a new car. Instead, you have continued to offset the footprint of the original car or, depending on the age of the car, it has already been offset. This means your car is almost footprint-free at purchase. Plus, as hydro, solar and wind power become more mainstream, the carbon footprint of a used EV can only get smaller!

The range of used electric cars on the market is always expanding. In order to have their share in an ever-growing EV market, manufacturers are constantly updating and developing their ranges of electric vehicles. Because of this, whether you want a little city car or an electric SUV, you are almost guaranteed to find what you're looking for.

On average, for every one new car sold, three used cars are sold and with the price of living increasing, ultimately, this number is only going to increase. With petrol pricing only set to go up and the shift away from petrol and diesel cars already in motion, opting for an EV makes the best sense. Opting for a second-hand electric car makes even more sense if shopping on a budget.