Going Green with an Electric Car

We asked* you which “greener” products you have invested in… 

• 57% of you have IMPROVED INSULATION in your home

• 21% invested in SOLAR PANELS

• Whilst 21% of you have taken the plunge and purchased an ELECTRIC CAR. 

*results based on our latest social media poll. 

What are your thoughts on Electric Cars? 

We’ve looked at some of the PROS and CONS, highlighting other green products on the market for your consideration. 

Electric Cars

PROS

Free from pollutants and smoke and produce NO carbon emissions – as they use clean technology, this won’t harm the environment in the long run.

Service and maintenance costs lower than petrol or diesel - According to a study by Go Ultra Low, on average the cost is 23% lower for electric cars over 3 years and 60,000 miles.  This is even less for small cars, with a difference of 35.7%.  “This is partly because an electric car has fewer moving parts, while a conventional car is powered by a complex engine and transmission that requires regular servicing.  Less to go wrong means less to maintain – and less impact on your wallet.”

Reduce noise pollution – According to Earthfirst.org.uk electric cars are “quieter and run smoothly creating a calmer atmosphere, making driving a pleasurable experience.”

Charge Points can be installed at your home for more convenience – that’s if you have off-street parking though!

CONS

Purchase Costs are high - the average cost of an electric car in 2023 is £49,111 (Electric Vehicle database March 2023). 

Accessibility of charge points - Electric cars need a bespoke charging unit, delivering electricity up to 7KW.  To purchase and install a charging unit the average price is around £800. Please note you need off-street parking to get a wall box installed.  ESB operates the largest EV charging network on the island of Ireland consisting of more than 1,350 charging points, 319 of which are located across Northern Ireland.

Worth noting though, new start up GoPlugable are focussed on expanding the charging infrastructure and enhancing convenience for new electric car users (who lack access to personal home chargers) by setting up an AirBnB of sorts for electric car users.  Their app will provide a platform to locate, reserve, and share neighbouring EV home charging points.  

Time and cost to charge your EV – costs can vary for charging depending on the size of your EV and where you are charging.  Time is a factor also, charging can take up to 8 hours from empty to full. 

We’ve also compiled a shortlist of 10 green products available currently, including electric cars.

Remember we have lower cost loan options to help you invest in those more expensive products, to make your home more sustainable, saving you money in the long run.

1. Electric Cars

2. Solar Panels

3. Renewable Heat Pumps

4. Solar Hot water systems

5. Improved insulation

6. Smart Controls

7. Robotic garden tools

8. Energy-saving light bulbs

9. Eco-friendly home products (cleaning, washing)

10. Choose Green Electricity 

Loan Options Available from Harp and Crown

We could help you on your way to becoming greener, with a lower interest rate option.

• Loyal Saver Loan (3.9% APR)

• First Time Loan (5.5% APR)

• £20K+ Loan (5.9% APR)

• Standard Loan £5K+ (7.9%)

• Standard Loan <£5K (12%) 

*Ts/Cs apply. 

Contact us today to find out if you are eligible. 

Email creditunion@harpandcrown.co.uk or phone 028 9068 5198 Monday to Friday between 9am - 5pm.

“Save regularly and borrow only what you need.”

The Harp and Crown Credit Union provides safe, secure, flexible finances for the wider police family in Northern Ireland.