The cost of a new electric car has been one of the biggest barriers to switching, but the reality is changing. Right now, a combination of government support schemes, rising tax thresholds, and manufacturer discounts means buyers who do their homework this spring could save thousands compared to those who don't. And the interest is there. According to … [Read more...]
Millions of pounds going to car buyers
Millions of car buyers who took out finance with hidden costs will receive payouts this year after the Financial Conduct Authority today confirmed compensation for mis-sold agreements. Announcing the final details this afternoon after markets had closed, the watchdog said the average payout will be around £830 – higher than it previously stated. However, … [Read more...]
Government EV promise will short-circuit, says analyst
A new analysis shows that the government's promise to deliver 300,000 EV chargepoints by 2030 will fall short by nearly 130,000 based on last year's growth rate. It raises concerns over whether the UK's charging failures are one of the factors driving manufacturers away from the market. Honda has scrapped three forthcoming electric models, absorbing a £12 … [Read more...]
Red tape is cutting off “green” motorists
A major new survey of EV drivers and prospective buyers with on-street parking found more than four in ten (43.7%) say they would only get an electric car if they could charge it at home, while a further 33% say home charging would make them more likely to switch. But planning rules are getting in the way. More than eight in ten respondents (84%) say … [Read more...]
EV drivers face road costs shock
UK EV drivers are likely to see a sharp increase in road tax with new announcements from Rachel Reeves. Research from GAP insurance experts, ALA has uncovered that the future average pay-per-mile will set the average driver back £267 a year, plus an additional £200 in standard road tax, increasing from April. Luxury car drivers with an EV over £50,000 will … [Read more...]
Electric used-cars values still falling
Petrol prices are rising, but not quickly enough to encourage a big swing to electric cars, even used models. More than half of used dealers (52%) believe electric car prices and values could further worsen this year, according to the latest research. March’s Startline Used Car Tracker shows 49% say consumer demand isn’t high enough to support values, 42% … [Read more...]
Millions to get unfair selling compensation in 2026
Millons of motorists should learn by the end of this month how long they will have to wait for payouts and how much they will get under the FCA’s motor finance redress scheme. The financial body has also said it expects most successful claims to be paid by the end of this year but acknowledges some may run into next year. The FC intends to introduce an … [Read more...]
Car b&b rental considered by owners
Hard-up car owners would seriously consider renting out their car when they don't need it. March’s new Startline Used Car Tracker shows that 37% believe it is a good way to make money from their car when not in use, while 28% would trust the rental company to make relevant safety and security checks. Also, 18% say this kind of passive income is a useful … [Read more...]
Smart Charging to cut EV running costs
Despite growing adoption of electric vehicles, widespread misconceptions about cost and charging still shape public opinion. Recent research from the AA shows that 80% of drivers believe electric cars are too expensive to purchase, while only 21% think EVs are cheaper to run than petrol or diesel vehicles. One in five motorists also believes charging away … [Read more...]
FCA reportedly caving in to car makers over loans
Motorists hoping for big payouts for financial mis-selling by major car makers' associated arms look like losing out after all. Media reports this week indicated the Financial Conduct Authority has come down on the side of the car makers' finance providers and big banks to reject payments to customers. Under the plan said to be going through final stages … [Read more...]
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