Why You Should You Sell Your Car for an Electric Model
This is a collaborative post
The electric vehicle is not a new concept, but technological advances have made possible the manufacture of electric cars that can go toe-to-toe against the more conventional petrol or diesel car – and the UK public has noticed. Sales of plug-in and hybrid electric vehicles have risen 140% year on year, as more and more people cotton on to the benefits of electric. You might even be thinking of selling your own car to buy into the electric car market – but why should you? This little guide aims to nudge you in the right direction, with these core benefits to owning an electric vehicle.
Environmental Friendliness
The fundamental argument for selling your car for an electric vehicle is the environmental one. Fossil fuels are notoriously toxic to the environment, not just in the release of greenhouse gases contributing to the climate crisis, but also in local air pollution. Electric vehicles are a sustainable option with no emissions (or reduced emissions in the case of hybrids), making for cleaner air and a significant reduction in your personal carbon footprint.
Reduced Running Costs
Electric cars also cost a lot less to run than their gas-guzzling counterparts. Electricity is cheaper than petrol or fuel per mile, representing significant savings already – but there are more savings to be found. For example, all-electric vehicles are completely exempt from road tax, which is now based on the carbon emissions of your vehicle. Even hybrid electric vehicles are cheaper in terms of road tax – and both kinds of electric vehicle are much cheaper to drive in central business districts where emissions-related charges are being levied. Electric vehicles can drive through London’s LEZ and ULEZ without surcharge. Lastly, electric vehicles have fewer moving parts than petrol or diesel cars, meaning less opportunity for part failure and a decreased expenditure on servicing.
Low Depreciation
Unlike the majority of petrol or diesel cars, electric vehicles do not depreciate in value beyond an initial drop in price for ownership. This means it’s a lot cheaper to invest in a used electric car, not just from the discount in relation to brand new models but also because you can sell that same vehicle on for roughly as much as you bought it. This means you could enjoy an electric vehicle for essentially the cost of driving it, an absolute bargain in comparison to engaging in the used combustion engine car market
The Phasing Out of Fossil Fuels
Ultimately, the writing is on the wall for fossil fuels; by 2030, the sale of new petrol or diesel vehicles will be banned, signalling the end of an era and a major transition of manufacturers from the combustion engine to all-electric vehicles. While fossil fuels aren’t going anywhere in the near future, their days are numbered – and electric car charging ports already outnumber petrol pumps. As such, going electric early may well be a shrewd decision for the long term.
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