Car subscription worth it?

wmat983

My partner uses a car for work and travels approx 75 miles on an average so I worked out might be spending £15/day on fuel roughly. If switched to electric might be £5/day so £10/day saving switching to electric. If she worked 22 days in a month would be a saving of £220 unless I have messed something up somewhere!

If she paid £500 month for car sub, £220 would come off that straight away, then things like tax and insurance and maintenance, doesn't seem like she would be spending extra per month but getting to drive around in a new car, thoughts?

Her credit rating is very bad this was another reason at looking at short term subscription.

Bigphil1474

Does she own the car she drives now? If so, you would be spending an extra £280 a month, not saving £220 a month. You could of course sell the car if she owns it. If there is currently a lease on the car she dives, that needs to be factored in. The electricity cost of charging a car would depend largely on if you charge at home or on the road. Taking all that into consideration, you may save from switching - you need to get all the figures as they apply to you to work it out.

MX5huggy

With home charging you will be able to get the charging under £2 per day, using Octopus Go at 7.5p per kWh. You would need a home charge point to take maximum advantage (you would be pay extra for electric used outside the cheap 4 hours so it’s a balance). 

Have you checked the excess mileage charges? I guess your considering ONTO £110 per month https://help.on.to/hc/en-gb/articles/4413418826641-Add-extra-miles-with-a-mileage-bolt-on-
i think these services are quite expensive especially when used car prices are currently so boyant that there’s very little depreciation at the moment. Ideal for those that want to try EV’s for a number of weeks to check they fit their life style. 

ontheroad1970

Cazoo have also gone in on the act with a mix of new and used cars.

iwb100

Looked at onto. Are they new cars? How does it work if someone has it two months then sends it back?

You get 750 miles per month included which is generous. The prices are relatively good for shortish term rentals but I guess as something you keep longer term it’s not cost effective at all. As a way of sampling an EV for a few months it seems great though. But I am concerned with what they do after that, or are the cars second hand and just recycled back into their pool?

DrEskimo

iwb100 said:

Looked at onto. Are they new cars? How does it work if someone has it two months then sends it back?

You get 750 miles per month included which is generous. The prices are relatively good for shortish term rentals but I guess as something you keep longer term it’s not cost effective at all. As a way of sampling an EV for a few months it seems great though. But I am concerned with what they do after that, or are the cars second hand and just recycled back into their pool?

They are second hand. You may get a brand new one, but it could be one someones used for years. I think there is a general age at which they sell off and stop using them though (like after 2-yrs).

There is a few things to bear in mind with ONTO:

1. There is a delivery and pick up fee of £50.
2. Insurance excess is £1,000
3. You don't get a physical key. All works through BT on a phone app.
4. There is a always on dahscam

Like you say though, a good way to try an EV before purchase. Alternative is the EV experience centre in MK. I borrowed a Zoe for a week before buying mine from them.

Petriix

Depending on your financial position you're almost certainly better off buying an EV than renting/leasing at the moment. Prices are simply not depreciating. If you keep it for 6 months you'll likely be able to sell it for similar to what you pay today. 

lopsyfa

welshmatt983 said:

My partner uses a car for work and travels approx 75 miles on an average so I worked out might be spending £15/day on fuel roughly. If switched to electric might be £5/day so £10/day saving switching to electric. If she worked 22 days in a month would be a saving of £220 unless I have messed something up somewhere!

If she paid £500 month for car sub, £220 would come off that straight away, then things like tax and insurance and maintenance, doesn't seem like she would be spending extra per month but getting to drive around in a new car, thoughts?

Her credit rating is very bad this was another reason at looking at short term subscription.

This is a red flag for me and a false economy in my opinion. The best decision is to keep driving the car she already own.

wmat983

Petriix said:

Depending on your financial position you're almost certainly better off buying an EV than renting/leasing at the moment. Prices are simply not depreciating. If you keep it for 6 months you'll likely be able to sell it for similar to what you pay today. 

Yes I am now thinking buying is the better option, her credit rating has been getting better each month so should be able to get finance now.

wmat983

lopsyfa said:

welshmatt983 said:

My partner uses a car for work and travels approx 75 miles on an average so I worked out might be spending £15/day on fuel roughly. If switched to electric might be £5/day so £10/day saving switching to electric. If she worked 22 days in a month would be a saving of £220 unless I have messed something up somewhere!

If she paid £500 month for car sub, £220 would come off that straight away, then things like tax and insurance and maintenance, doesn't seem like she would be spending extra per month but getting to drive around in a new car, thoughts?

Her credit rating is very bad this was another reason at looking at short term subscription.

This is a red flag for me and a false economy in my opinion. The best decision is to keep driving the car she already own.

The car she currently drives won't last much longer, its 16 years old. 

mgfvvc

DrEskimo said:

Alternative is the EV experience centre in MK. I borrowed a Zoe for a week before buying mine from them.

The EV experience centre is now closed.