We ask Andy Russell – motoring journalist the answer.

The answer is that it varies according to battery size and tariff. But, as most EVs are charged at home or at the business address, let’s look at those costs.

Working on domestic electricity averaging 14p per kilowatt, a 40kwh battery EV would cost under £6 to fully charge and it could be around £4 if you take advantage of cheaper rate overnight electricity.

Consider this – cost wise. would you want a petrol car that did nearly 200 miles per gallon?

With a wall charger all EVs will fully recharge overnight. You can even link solar panels to your home wall charger and store electricity to power your EV.

Compared to a petrol car doing 45mpg, the EV’s fuel costs will be about 25%. Public points tend to cost more for charging but it’s still cost-effective compared to fossil fuels.

More short videos to come…

If you’ve started thinking about whether an electric car might be right for you, you probably have lots of questions. If you’ve never driven electric before, you might be wondering about the day-to-day practicalities of owning an electric car. And with the formal announcement expected soon to bring forward the ban on the sale of new petrol and diesel-fuelled cars to 2030 – five years earlier than previously planned, this is a subject that many are talking about right now.

So to help our customers make an informed decision we decided to put electric cars to the test and answer some of the most frequently asked questions with the help of Motoring journalist, Andy Russell.

Andy Russell has more than 30 years of experience as a motoring journalist, editor and content provider, for both print and online, and has driven around 2,000 new cars. He has seen huge changes in the automotive world and is particularly interested in new technology and excited about the advent of electric vehicles, having driven his first electrified car at the start of the new millennium. He is also a keen, and hardy, all-year motorbike rider and has passed both advanced car and motorcycle tests.

So, if you are thinking about going electric for your next car but not sure whether to take the plunge, then this video could give you the answers you need!

We cover a range of questions, including some of the main topics:

• What is an electrified vehicle?
• Why are pure electric vehicles becoming more popular?
• How far can an electric vehicle travel on a single charge?
• How long does it take to charge an electric vehicle?
• How much does it cost to charge an electric vehicle?
• How long do the batteries last?
• Some electric vehicles are based on traditional petrol and diesel models. Do they differ apart from the power source?

If you would like further information or you would like us to help you with a finance quotation on an electric car then please get in touch on 01603 381955 or e-mail sales@credoassetfinance.com

This year may have been dominated by the Covid-19 pandemic decimating the world, but on a more positive note for our environment, 2020 has also seen electric vehicle sales finally begin to take off. 

For the first eight months of this year, registrations of zero-emission EVs, powered purely by battery, were up 157% compared to the same period of 2019, plug-in hybrid electric vehicles (PHEVs) were up nearly 68%, whilst diesel car registrations down nearly 60% at 162,097 and petrol dropping nearly 45%. With the further boost for business users of by a 0% benefit-in-kind tax liability in 2020-21 for company drivers it’s likely this trend will continue, so this year the launch of Credo Eco Finance, our new specialist service, has been even more purposeful.

This new brand has been designed to take our experience of sourcing funding for environmentally friendly purchases for business and private individuals – including cars, vans and energy supply – to the next level.

Fran Brown, Marketing Manager, says it highlights Credo’s belief in the fast-growing eco evolution and its desire to be at the forefront of it by helping people and businesses to switch to a greener future.

“We see Credo as a one-stop shop for electric vehicles (EVs), working with motor dealerships to source cars. We can also organise wall chargers for your home or business, taking advantage of grants available. It’s all about the three ‘Cs’ – cars, chargers, convenience,” she explained.

“The upsurge in interest in EVs, and the experience we have financing them, encouraged us to launch Credo Eco Finance. We see it filling a gap in the market by using our specialist knowledge to help individuals and businesses which might be daunted by this latest transport technology.

Businesses are realising that being eco-friendly is also a major part of their brand image and they want to play their part in tackling climate change,” she added.

Our expertise means we offer a flexible approach to funding a wide variety of renewable energy infrastructure including biomass boilers, solar panels, wind power units and air source heat pumps. We have appointed Michael Seago as our Eco Finance specialist. He and our other specialist advisors are happy to offer no-obligation advice on options available and single-payment finance packages.

Contact us by calling 01603 381955 or email sales@credoassetfinance.com