Pro's and con's for buying an electric vehicle

Not just young people.

Last year my eldest obtained a card that meant 12 months no interest credit. She was 'between jobs' and so was time rich and no income. As she has plenty of funds that were tied to bonds etc she chose to borrow money to carry out some home improvement/decorating/carpeting etc. Paid of when one of the bonds matured.

No wonder some young folk end up so deep in the mire. Buy something with the intention of paying it of within the zero % period. Hit difficulties and get hammered by 20% interest.
 
Then they transfer to another zero% card

But debts can spiral for some EasyT, it can be a debt trap. If you are well financed you'll pay up before there are any problems.

Anyone interested in EVs....? 

Seems the Ostrich method of accounting is alive and well🤑📈🤑

Give it 5 years Brue and if I’m still about, maybe😜

Savings for now, brue, but the Gov't will have to raise the £28billion a year that it collects from vehicle pump fuel........plus the reduction in VED income  (currently £4 billion p.a.) from an increasing number of exempt EV's.

From The Guardian..........

The switch to electric cars poses a big financial problem for the government – because every time a driver switches from a petrol or diesel car to an electric vehicle, the government loses 57.95p per litre in fuel tax at every fill-up.
 
In total, duties on petrol and diesel add up to almost £28bn a year for the exchequer. Worse for the chancellor of the day, petrol and diesel sales make a contribution to VAT. VAT is charged at 20% of the wholesale price plus the duty, which equates to 16.7% of the final price. That’s a form of double taxation and explains why more than 65% of the cost at the pumps goes to the exchequer.

Garages may well be staffed largely by chaps in white coats with multi-meters. Electric motors are unlikely to be repaired on site but exchanged for rebuilt units. It'll be an interesting challenge.

Spriddler, it looks like the thinking is a mileage tax for everyone in the future.  Edit. The gov are already facing bills for health related pollution problems etc. and they have been forced by the courts to speed up the process in reducing pollutants, so even hybrids help in this respect.

Seems to me, that’s the only logical solution. 

They will probably add to the mileage tax with a "stay where you are" tax as well.