My Experience of Running My New Electric Car
I’ve been analysing the costs of running my electric car and I’ve also been feeling a little smug every time that I drive past a garage and see the rising cost of petrol!
Strong Values and Keen Recyclers
However, buying an electric car wasn’t just about the cost. I had made the decision before last Christmas to go electric at some point during 2022. It is more about values and doing the ‘right’ thing. At home, we are avid recyclers; we don’t throw things away if we can help it and we use ‘trash nothing’ to pass things on if we can. We also subscribe to Milk and More in order to help eliminate plastic bottles. We gave up eating red meat over 25 years ago, and we grow some of our own fruit and vegetables. Those values extend to the business and I’m proud to say that all of our clients’ investments are invested in green and sustainable funds, as are our personal investments.
To be consistent with our values when thinking about wheels it just had to be an all-electric car. My last car was a Ford Eco model which had low consumption, paid no tax and was not subject to Birmingham’s congestion charges. We’d chosen it to reduce our impact on the environment (not to save tax and charges), so we were already part way there.
As you would expect from a Financial Planner the logical thing to do was to fit the EV charging unit first and this was fitted in February, after a four month wait. The next part was the car and there was no haste really with changing, so I was taking my time, considering my options. However on this occasion my hand was forced when a bus shunted me from behind and pushed me into another stationary car in front. My car was a complete write off and fortunately I was shaken, but not otherwise hurt. So on the 18th of April I became reliant on my wife’s car to get around. This wasn’t going to work for long, so it became time to find that electric car.
Not an Easy Ride (Pardon the Pun)
This is where you discover that getting a new car at the moment in time is almost like looking for gold. If you want a specific make and model you can wait for up to six months or more. Fortunately, I am not materialistic, I take my driving seriously and I have never received so much as a ticket for a motoring offence. Next year I will receive my gold badge from the Institute of Advanced Motorists for being a member for 50 years and my badge is proudly displayed on the front windscreen of my car! However as far as cars are concerned, I can’t tell one make or model from another.
After preliminary investigation I turned to Car Wow who sourced me a car within a couple of days. I turned down their first offer of a car from Dundee because Google told me that the dealership was 270 miles away and I opted for a car from Derby which was only 60 miles away. So, on 10th May I took a train to Derby, collected my car and drove it home. Some of you may find it strange but there was no test drive involved, the first time that I saw my car was when it was unveiled after the purchase had been completed. As I said I didn’t have a choice and I didn’t even realise that it was a GT Premium model until I read the paperwork. With its alloy wheels and white with a black roof my kids think that I am really trendy!
The Peugeot representative was amazing! Annalise may only have been 21 years old, yet she understood about giving me a great experience. She collected me from Derby station and immediately offered coffee and the facilities after my journey. I was made to feel like a friend from start to finish which was all so very different to the high-pressure car salesperson in the bad old days. My experience was so good it might even make another story!
So I am now the proud owner of a Peugeot 208 E and I love it. It is such a different driving experience, so smooth, and the acceleration – wow – I am leaving the other guys revving their engines at traffic lights far behind!
The Cost of My Electric Car
Now onto cost. My planning worked well and as soon as I got home from Derby, I plugged the car into my home charger. I switched to the EV owners’ tariff, so I get half price electricity from midnight. I have done the sums and the electricity is costing me about 25% of the amount that I would pay for petrol. So for £100 that I would pay for petrol I am only paying £25 on electricity. It’s also saving me time, because it is far quicker to plug in at night than visit the local garage. However, while I am mildly amused when I drive past garages and see the petrol prices it is not about the cost, it is about values, and I am no longer consuming fossil fuels which really makes me feel great.
The Silver Linings
My car accident was unfortunate, but every cloud has a silver lining. I had already obtained the £350 grant for fitting my EV charger in February a grant that finished at the end of March. Then, because I bought an EV car in May I obtained the government grant of £1,500 which ceased to exist on 14th June.
After the car accident, I was badly shaken and had to take a few weeks away from my desk to recuperate. My team were amazing, and they kept everything ticking over perfectly so my special thanks to Sarah Harvey, Jo Morgan, Sarah Challenor, and of course my son Tom and my daughter Katie – perhaps I am not as essential as I thought that I was!
The time off and my close brush with my destiny also gave me plenty of time to think and I reflected a lot about the people and friends that I have known and the clients who I have helped over the last 30 years. I am so lucky to have been blessed with such wonderful family, friends, and clients. It’s at times like this that you are so glad that you have always lived in harmony with your core values. Mine are honesty, sincerity, trust, compassion, integrity, fairness and contribution. Why not do our values exercise on our web site and see how you compare?