Since the 8th December 2020, owners of new electric vehicles (EV) have the option of fitting a green number plate to their vehicle. Designed to raise awareness of EV use around the UK, the government is hoping to encourage more drivers to go electric ahead of a total ban in 2035 on new sales of petrol and diesel cars.
Only fully electric cars can have the snazzy green number plate, ruling out plug-in and standard hybrid cars. The new ‘plate can also be retrofitted to older EVs.
The hope is that the new green number plate will unlock cost savings for electric motorists. The green stripe on the number plate will be easily recognised by automatic number plate recognition cameras. This will allow schemes such as reduced parking fees and lower congestion charges to be implemented in the future.
How much!?
Ditching the old petrol car for a new EV can seem very expensive. Most new EVs are outside the price range for lots of people. However, don’t forget to take in to account the following cost savings when owning an EV:
- Road tax is free. Pay nothing on road tax if you own an EV.
- Servicing is cheaper as EVs have far fewer moving parts. There’s no oil or filters to change, and most services involve simple visual inspections. For example, the first service on a new VW ID.3 is after 2 years, and then annually or 20,000miles, whichever comes first.
- Electricity is cheaper than petrol. This is the obvious one, but you’ll need to be careful. For best value, charge your EV at night when electricity is usually cheaper. Avoid expensive fast charge units at service stations as this can work out no cheaper than a tank of fuel.
- Government incentives – The UK government is currently offering £3k off the price of a new EV.
For more information, we recommend looking at DrivingElectric.com where you’ll find lots of expert advice, reviews and buyers guides. DrivingElectric.com is not affiliated to PayingTooMuch.com – we just think it’s a good site!
Insurance
EVs can have a high insurance group when compared to similar standard fuel vehicles. The new VW ID.3 is group 28 currently – which is the same as a new BMW 3 Series. This is because EVs are costly to repair. Unlike a conventional engine, with components that can be fixed, if a battery gets damaged, the whole thing needs to be replaced, which is very expensive.
Here at PayingTooMuch.com, our team of car insurance brokers can find you a competitive price on all types of motor insurance, delivered with the exceptional customer service which we’re known for. You can get a quote online, or call our team on 01243 964725.
