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Buying a used electric vehicle could save thousands over course of ownership

Buying a used electric vehicle could save thousands over course of ownership

Drivers could be saving themselves thousands by opting for a used electric vehicle instead of a petrol or diesel model, according to a new study. 

Those buying a third-hand, medium-size electric vehicle, for example, could pay around £5,600 less over seven years of ownership. 

It’s according to research from the Green Alliance think tank, which says the study shows that implementing a mandate to encourage the sale of new EVs would give easier access to low-cost second-hand electric vehicles for lower income families. 

Electric vehicles tend to command a higher price tag than petrol or diesel variants when new, but bring lower running costs. 

The think tank highlights that of the seven million new cars sold in the UK last year, just 0.3 per cent were electric. 

It is unclear, however, whether or not last year’s EV share was affected by the coronavirus pandemic and might not be representative of the current market. 

The Green Alliance’s study also found that second-hand electric vehicles cost up to £2,300 less than a petrol or diesel car over the course of five years, while owning a third-hand EV for seven years could save up to £5,600. 

Caterina Brandmayr, head of climate policy at Green Alliance, said: “The government has sent a strong signal to carmakers about the direction of travel, it must now ensure they speed up the transition and help us all to switch by getting more electric vehicles on the road.

“This is especially important to ensure those on lower incomes can benefit from clean cars sooner, as well as cutting carbon emissions and cleaning up our air.”

Published: Wednesday 02, Jun, 2021
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