What is it like to have an EV?

Have you thought about going electric? EV technology and charging infrastructure has improved over time and is getting better. So, in many cases, making your next car an EV could make sense. To help you decide, here is more about electric vehicles to help weigh up what is right for you.

  • Watch this short video of some electric vehicle drivers we filmed at random.​
  • Correct as of October 2022. Opinions are not necessarily the views of Lloyds Bank. ​
Watch our video to understand more about electric vechicles

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1. Is an EV right for me?

Why should I consider buying an EV

Electric cars are proving more popular, with Electric Vehicles (EV) sales increasing year on year.

There’s a wide range of vehicle types and styles, both new and used. The main factors you need to consider are range, charging options, charging speeds, budget, and vehicle size or type.

Answer questions about your lifestyle and charging capabilities to see which option suits you best.

Keep in mind though, that this tool is just a guide, and no matter what the outcome, we’d still encourage you to do more research to help make your decision.

Do you have off-street parking?

If you have off-street parking, you can get an EV charger installed at home, either on an exterior wall or in your garage.

The average cost of a home EV charger, including installation, is between £800 and £1,000. 

Could you get home chargepoint installed at your home?

If you have off-road parking, your best option is to install a home charge point. This is a wall-mounted, weatherproof unit attached to the outside of your home, or inside a garage, that provides a plug-in point for your car’s supplied charger.

This charge point is relatively easy to install and runs from your home’s domestic supply. Modern or refurbished apartment units that include parking may also provide charging points.

Home chargers typically operate at 7KW, which can charge a typical 60KWh car battery fully in under eight hours. It makes sense for users to sweep the market for the best deals, as some tariffs provide cost-efficient off-peak rates.

More information on the cost of charging - Black Horse.

Installation and cost of a home Electric Vehicle charger - Black Horse

Do you have access to a local charge point for regular use and charging?

If you don’t have off-road parking, you may have access to charging points installed within lampposts or other roadside units. But there are lots of other options available too - chargers can often be found at supermarkets, gyms, and retail parks.

In addition, most service stations now offer EV charging points.

Where do I charge an EV? - Black Horse

You can also see your nearest charge point using Zapmap

Do you have access to a second car that uses petrol or diesel?

If there’s a second petrol or diesel car in your household that you could have use of then an electric car could be a good choice for the majority of your journeys.

For those longer distance journeys, driving your second car could then be an alternative option.

In an average week, how many miles do you travel?

It’s worth measuring a typical week’s driving, to make sure you select a vehicle with sufficient range. EVs can manage between 100 and 300 miles per charge.

What does range mean? - Black Horse

Your answers indicate that you could be suitable for an EV.

Based on what you have told us, you have access to a convenient charge point, and there are electric vehicles that have a suitable range for you day-to-day life. Now it's just a case of choosing the right one.

It’s important to thoroughly research your options before choosing to drive an electric car.  This tool is a guide, and should not be used as a sole reason for your decision

There are a wide range of electric vehicle types and styles, both new and used. The main factors you need to consider are range, charging options, charging speeds, budget, and vehicle size or type.

Your results indicate that an EV may not suit your needs right now.

But, this calculator is only a guide and the UK’s electric vehicle landscape is constantly evolving. Thousands more charge points are being installed every year and new models are coming to the market with longer ranges and faster charging, so you could be ready for an EV sooner than you think.

Your charging circumstances or mileage requirements may make an EV less suitable for you right now. However, particularly if you are a high mileage driver, we would recommend researching longer range EVs which could suit your driving behaviour. Our EV hub - Black Horse has lots of information to help you to help you transition if you find a vehicle that suits you or your circumstance change.

If you decide an EV doesn’t fit your lifestyle at the moment, you could consider a plug in hybrid car which can run on electricity and uses petrol or diesel fuel as a back up. 

This means you can take advantage of the electric battery for shorter journeys, charging when you can, while still using traditional fuel for longer journeys or on the occasion you can’t reach a charge point. Plug in hybrids can also be a brilliant option for transitioning from traditional fuel cars, into a fully electric car in future, if you aren’t completely comfortable with the idea yet. You might find you love using the electric mode, and decide to opt for a pure electric car in the future.

 Whatever you decide, we have over 4,500 approved Black Horse finance dealerships across the UK with a wide range of new and used electric vehicles to choose from. They can answer any additional questions you may have, help you to choose your vehicle, and arrange your finance. Black Horse finance dealer.

Are you ready to start your EV journey?

 Even if EV isn't right for you, we still finance all of our cars.

Log in to get a quote

Electric vehicle fast facts

  • Electric Vehicles are powered by an electric motor that draws electricity from a battery. They are capable of being charged from an external source. 
  • An EV could be only powered by an electric motor (all-electric vehicle) or a PHEV (plug-in hybrid electric vehicle)  that can be powered by an electric motor and by an internal combustion.
  • They are considered greener when driving – as EVs have no exhaust emissions. However, EVs do have an impact on emissions when you look upstream at manufacture, as minerals are needed in order to create the batteries (e.g., lithium).
  • Electric vehicles could require less maintenance than petrol or diesel cars. (despite current fluctuations in petrol and energy prices). It's good to know, most electric car breakdowns are mainly punctures or issues with a 12v battery.2
  • With an electric car, you may also need to maintain or replace the cabin air filter (also known as a pollen filter), brake fluid or air conditioning.
  • They could be exempt from VED (vehicle excise duty). Only exempt until 2025.3
  • Ultra-low emission vehicles could have a national exemption (i.e., pure battery electric and any PHEV) from Clean Air Zone / Ultra Low Emission Zone charges. Some newer diesel and petrol cars can also be exempt.4

What you need to know

Electric vehicles are typically cheaper to run

You’ll be pleased to find out that an EV could cost you less over the course of ownership.5  Without taking into account the purchase price and any energy price fluctuations, an EV’s running cost (including refuelling/recharging, insurance, road tax, MoT and servicing) could be less than what you would expect to pay for an equivalent petrol or diesel car. Plus, with an EV you can take advantage of the many offers and subscriptions out there.

How do EVs measure up to regular cars?

  • Range: 99% of car journeys in England are under 100 miles, according to the National Travel Survey, and many EVs today can do between 100 and 300 miles on a full charge.6 
  • If your workplace has a charging station, why not plug your EV in between meetings or during lunch? 
  • And if you are venturing further afield, your EV will give you plenty of notice before you run low. Then when you need to recharge, use your satnav to find a charging station.
  • Something to consider, you can use another independent sources of information, like the RAC, to help further deepen your understanding of Electric Vehicles. 

How can I find out if an EV would suit my lifestyle?

To start with, you’ll want to think about your driving habits and understand the practicalities of owning an electric vehicle.

  • How far can electric vehicles go? Many EVs today could expect between 100 - 379 miles on a full charge. That is a lot of pick ups, drop offs and work commutes, if you consider that the average car trip in 2020 was 7.9 miles (based on year where driving was impacted by Covid).7
  • How long does it take to charge an electric vehicle? Depending on the model, for many electric cars, you can charge to 80% in as little as 10-15 minutes, though an average new EV would take around an hour on a standard 50 kW rapid charge point.8
  • Where can I charge my electric vehicle? Despite six in ten non-EV drivers believing there are a lack of charging points nationally, there have been significant improvement to the Electric Vehicle public charging network in recent years with over 40,000 across the UK (source zap map).9

Finance your new or used EV

The cheapest way to buy a vehicle is to use cash, or pay off your vehicle within a 0% interest offer period on a borrowing agreement.  However, finance or leasing, particularly for a new vehicle could be a cost-effective way of getting an EV.

You can apply for Car Finance if:

  • you’ve had a Lloyds Bank current account for at least 3 months
  • you’re registered for Internet Banking
  • you’re 18 or over and a UK resident.

Want a quote? If you have a Lloyds Bank current account, log on to Internet Banking for your personalised quote, with no impact on your credit score.

Log on to start a quote

Credit is subject to status and additional affordability checks.

Would you like to start saving energy at home?

If you would, our Eco Home Hub is a great place to start.

Here, you’ll be able to find out about borrowing options, grants and schemes to help you make your home a greener place.

Find out more at our Eco Home

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).

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