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Wednesday, February 21, 2024
    HomeMoneyThe seven potential hidden costs of your recent electric vehicle

    The seven potential hidden costs of your recent electric vehicle

    The Government offers as much as £350 in grants from the Office of Zero Emissions Vehicles (OZEV) towards installing chargers. Claiming this implies you will need to use an OZEV-authorised installer to do the work.

    Renters and flat owners are also eligible to say the OZEV grant, the Government says.

    Yet installing a house EV charger may very well be a really costly and disruptive exercise if your house is an older one on what is known as a “looped power supply”.

    Randolph Brazier is director of electricity systems for the Energy Networks Association (ENA), which is answerable for the National Grid.

    He explained to The Telegraph earlier this 12 months that looped power supplies were “a way of cost cutting when the electricity supply was nationalised”.

    Some households effectively share their power supply with their neighbours, meaning digging up gardens could also be vital before the provision can handle the demand of an EV charger.

    In some cases, your neighbours can have to provide permission for his or her gardens to be dug up as well before the provision may be unlooped.

    “If we got here across a looped supply, we’d unloop them free of charge,” said Mr Brazier. “We then reinstate any garden, path or drive that’s been disrupted.”

    The prices for this work, often needed on terraced or rural properties, are picked up by all bill payers using the 23pc levy that goes towards network costs.

    Resale value

    Selling your EV, do you have to trade up for a greater model, may very well be tricky within the short term, although as adoption grows, so will the scale of the marketplace for second-hand EVs.

    Data from Auto Trader shows that, in some cases, price parity is already being achieved between comparable second-hand petrol cars and their electric counterparts.

    Nevertheless, availability and alternative within the second-hand market can still be a priority. Auto Trader says its mostly searched price bracket is the £20,000-£30,000 range.

    A 3-year-old Renault Zoe was on average in regards to the same price because the Renault Clio in October, the automobile trading site says.

    A 12 months ago, buying a second-hand 2018 BMW 3-Series would have cost you £20,000 greater than buying a similarly aged Tesla Model 3.

    Today typical valuations for the petrol-engined German automobile are inside £1,000 of the American EV, Auto Trader adds.

    On the time of writing there have been seven models of EV on offer versus 77 petrol and diesel cars.

    Shipping your vehicle abroad

    In 2022 the majority car-carrying ship Felicity Ace caught fire and sank, taking greater than 4,000 vehicles to the underside of the Atlantic.

    Local authorities within the Azores, who rescued the ship’s crew, claimed that lithium-ion EV batteries had ignited within the blaze and accelerated the hearth’s spread through the 60,000-tonne vessel.

    After the sinking, the ship’s owner, Mitsui OSK Lines, announced it will now not transport used EVs. Spokesmen insisted on the time that the policy change was not linked to the lack of the vessel.

    Nonetheless, EVs at the moment are a particular item of risk for shipping firms. Owners should due to this fact keep in mind that shipping a favorite vehicle overseas to follow a family move could also be less hassle-free than for a traditional automobile.

    Shipping a automobile costs anything from a couple of hundred kilos to the low hundreds depending on model, carrier and distance.

    One company offering this service, Autoshippers, says it could possibly ship EVs “without the necessity for extra paperwork or added costs”.

    Stena Line Freight, the shipping operator, says it accepts EVs aboard its vessels but reserves the best to refuse boarding if its crews suspect the automobile – or its battery – are damaged in any way.

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