Electric and hybrid vehicles are in higher demand than ever before, and for good reason. An agreement was reached during the COP26 conference by a coalition of governments, automakers, and others to transition to 100 percent zero-emission sales of new vehicles and vans by 2040. As we get closer to this deadline for new petrol and diesel cars, demand will only increase. If you’re in the market for a new car but aren’t sure whether to go all-electric or hybrid, read the benefits of each below to help you decide.
Electric Car
Incentives
The electric car industry has evolved over many years, with companies like Tesla setting the bar for the rest of the sector. Electric cars have gotten more advanced as a result of this expansion, benefiting both the owner and the environment. The government has schemes in place to persuade more people to acquire electric cars with grants in order to help this new development progress faster and further. The UK government is offering a £2500 grant toward the purchase of a new electric vehicle that costs less than £35,000. A further reward of £350 is also available through the Electric Vehicle Homecharge Scheme.
Save on Tax
You can keep saving with electric cars because they qualify for no VED (Vehicle Excise Duty) and cheap company car tax. You can avoid paying the London Congestion Charge and the Ultra Low Emission Zone if you live or travel in and around London.
Cheaper Running Costs
The advantages of electric cars don’t end there; their operating expenses can be lower than those of petrol / diesel vehicles. You can save money by charging at home, where electrical suppliers charge reduced rates.
Electric cars are also easier to maintain and can save you money on service and maintenance because they are less prone to wear and tear.
Hybrid Cars
Hybrid cars combine an electric motor with a petrol / diesel engine to provide the best of both worlds. Hybrid cars are more fuel efficient and economical than gas and diesel cars.
Range
If you enjoy long journeys but are concerned about stopping to charge, a hybrid car is ideal since it features regenerative braking, which allows the battery to recharge while driving. A hybrid car allows you to enjoy a lengthy ride without having to worry about stopping to charge, which is not always the case with an electric vehicle.
Tax
Hybrid cars registered prior to 2017 are also eligible for free road tax if their CO2 emissions are less than 100 grams per kilometre. In addition, after the first year, new hybrids costing less than £40,000 pay a flat rate tax, which is typically lower than the petrol or diesel counterpart.
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Overall, an electric or hybrid vehicle is more environmentally friendly. They send fewer greenhouse gases and pollutants into the atmosphere than petrol or diesel vehicles. This includes their manufacturing as well as the power needed to keep them functioning. As well as a number of other advantages that make purchasing an electric or hybrid vehicle all the more appealing. At Insurance 4U we continue to add to those benefits by providing comprehensive insurance for electric and hybrid cars. If you would like more information contact one of our friendly experts.
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