20 January 2022
Is 2022 The Year To Make The Switch To EVs?
The last 12 months have given motorists plenty of food for thought as they consider making the switch from petrol and diesel vehicles to electric vehicles (EVs). The UK Government made a bold stand in declaring their commitment to ending the production of new traditionally-fuelled vehicles by 2030, which was perhaps the clearest indication yet that EVs were the future and the path towards them was becoming much more defined.
But since then we have had the deepening climate crisis across the globe, with harrowing tales of extreme weather disasters in various continents, coupled with the financial pressures heaped on us by the general economy, the pandemic and Brexit. Add to this the petrol crisis in Autumn 2021, which woke many motorists up to the practical and financial benefits of driving an EV, and the low-emission vehicle manufacturers across the industry were rubbing their hands at the best, and cheapest, marketing campaign they could have wished for.
The benefits of driving an electric vehicle
It is natural for motorists to resist such a seismic change in their driving practices and lifestyle for as long as possible, but increasingly the benefits of switching to EVs sooner rather than later are becoming hard to ignore. The benefits of switching to EVs include:
- Positive climate action – primarily you are driving a vehicle with zero carbon emissions
- Cheaper motoring – per mile your fuel costs can be significantly reduced by not driving a petrol or diesel vehicle
- Lower maintenance costs – because an EV runs on a battery, there are less moving parts to age, deteriorate or breakdown, so your ongoing service and maintenance costs are reduced also
- Developing technology – driving an EV is already cheaper and more exciting, but this is a developing industry, so EVs are going to become even more cost-efficient, even better to drive and involve even better in-car and safety tech as the years go by. So there are great advantages to getting involved now.
In addition to the well-established benefits of driving an EV, there are various incentives being publicised to encourage you to do it. The Government has offered grants towards the cost of installing a home charging unit, and has completely removed the need for EV drivers to pay road tax. This creates a very positive financial landscape for EV drivers, and if your workplace offers a salary sacrifice car scheme then you could benefit even further.
Cost-effective motoring with a salary sacrifice car scheme
A salary sacrifice car scheme enables employees to lease an EV through their workplace, which is funded using a portion of their gross salary. This means the employee benefits in real cash terms by paying less income tax and national insurance contributions, as well as the various financial incentives outlined above. However, that cost benefit only applies if you lease a zero-emission EV. Furthermore, the scheme is flexible in terms of lease term length, there is no deposit required and you can cancel the scheme should you choose to leave your employment, so there is a very low risk to committing to the scheme.
It is clear that the motor industry is now fully committed to developing EV technology, and all the major vehicle manufacturers now offer an EV in their range, with a wide choice of new EVs available including city cars, family SUVs, executive saloons and high-performance vehicles. So the choice is there whatever your lifestyle or your motoring tastes, and all on a cost-efficient basis and while improving your climate impact at the same time.
So make 2022 the year you make big changes; to your motoring, to your lifestyle and to your commitment to helping climate change, and speak to Pink Salary Exchange about signing up for a salary sacrifice car scheme in 2022.