Keyless entry: 2023 Genesis GV60 introduces face recognition

Green Genesis GV60

Genesis looks set to usher in a new era, with the 2023 GV60 model offering the world’s first face recognition technology for keyless entry, alongside other updates.

Owned by the Hyundai Group, Genesis has been operating in the UK since 2021. It’s consistently proven itself as one of the more innovative motor companies in the electric and hybrid vehicle market.

That status will only be cemented with the introduction of face recognition technology to the company’s GV60 model, the brand’s first dedicated electric SUV. Read on to find out more …

What can you expect from the 2023 Genesis GV60?

The 2023 Genesis GV60 will include face recognition technology as standard, alongside a host of industry-leading updates.

First launched in September 2021, Genesis’s ‘Face Connect’ technology will now be rolled out as standard across the GV60 in both the UK and Europe.

This new face recognition technology will allow customers to unlock, drive and lock their vehicle without the need for a key. Through use of a face recognition sensor and biometric data, the GV60 will recognise the driver’s face and allow them access to the car – even if the key isn’t present.

Drivers will need to set this process up through use of the Genesis Connected Services app. All information is securely stored via encrypted software in the vehicle – it’s never uploaded and stored remotely.

Drivers will simply need to walk up to the GV60 and look into a camera on the B-pillar. The GV60 will recognise authorised drivers’ faces, unlocking the vehicle via fingerprint sensor.

The technology effectively resembles that used in smartphones worldwide, and aims to make the driving process as seamless and stress-free as possible for drivers. Genesis also emphasises the convenience for users who enjoy outdoor activities like running and swimming, as car keys will no longer be necessary for vehicular access.

Other updates for the 2023 Genesis GV60 include a Digital Key, which unlocks the car via smartphone or a smart watch. Up to three additional drivers can have access to the vehicle via the Digital Key.

Other features include the Ergo Motion driver seat – which features a massage function as well as heated seats in both front and rear. This includes an electric, adjustable heated steering wheel. All-electric GV60s will also have a new Air Purification System, which detects the cabin’s air quality and adjusts according to dust concentration.

In the UK, the Genesis GV60 with face recognition technology will be available in Premium, Sport or Sport Plus versions. Customers can choose from a variety of colour and trim options as well as upgrade packages.

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Electric car parking fines – what are they and how can you avoid them?

Charging black car

Staying abreast of changes to road rules and regulations is the most sensible way of ensuring that you avoid any unwelcome penalties or fines.

Electric vehicles are a comparatively new vehicle, and charging infrastructure continues to be rolled out UK-wide in order to meet the rising number of EVs used, as well as the government’s own Net Zero Strategy.

However, these promises are not yet being met, leading to a strain on nationwide EV charging infrastructure. In an attempt to manage this, some chargepoint operators have introduced electric car parking fines.

What kind of electric car parking fines might drivers face?

If a driver keeps their EV connected to a chargepoint long after the vehicle reaches full charge, they may now face a fine.

The introduction of a fine for drivers staying too long at an EV charging point is not entirely unprecedented. Tesla has an ‘idle fee’ for its worldwide Supercharger network, which results in users being charged for every additional minute the vehicle remains connected to the Supercharger after reaching full charge.

A similar approach is now being taken at certain other chargepoints across the UK. In Aberdeen, for example, a £30 fine will be charged to EV drivers who overstay for an hour or more at any chargepoint.

Companies like ESB Energy and Geniepoint have also introduced electric car parking fines across their chargepoints. There are concerns that these moves will put consumers off purchasing new EVs.

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Tesla Announces Brand-New Electric Car Platform 

Inside a Tesla

In early March 2023, Tesla held its Investor Day event, where CEO Elon Musk and other Tesla managers provided updates around the company’s future developments.

During his speech, which detailed the company’s ‘Masterplan 3’, Musk hinted at the creation of a new electric car platform designed to improve efficiency across the company’s factories and vehicles. The implementation of this electric car platform promises changes that, as company execs advised, would allow for an estimated 40% reduction in factory footprint, create cost savings for the company of up to 50%, and ultimately reduce the risk of production line delays. Overall, estimates from Tesla suggest the new platform will cut down construction costs per vehicle by around $1000 – that’s equivalent to around £830.

A number of developments were also announced, including advances in electric motor technology through to new car construction processes.

An affordable, entry-level Tesla electric vehicle – which would sit beneath the company’s Tesla Model 3 and Model Y in both size and cost – has long been teased. This model would serve as Tesla’s competitor to popular models like Volkwagen’s ID3. However, investors hoping for the company to shed greater light on this car’s development were left frustrated – any such updates were promised to come ‘at a later date’.

Similar frustrations circulated around the lack of information regarding Tesla’s much-anticipated and long-delayed Cybertruck, which has been positioned as an electric pickup truck. Tesla also provided no clear update on the second-generation Tesla Roadster.

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Nissan Plans to Create More Electric Vehicles by 2030 

Red Nissan car

In November of 2021, Nissan announced their ‘Ambition 2030’ scheme, which promised the introduction of 23 electrified models, including 15 fully electric vehicles by 2030.

Nissan was an industry leader when it came to introducing electric vehicles – the Nissan Leaf was first announced in 2011, and the company has continued its pursuit of pioneering electric vehicles as accessible for all. However, as the automobile industry increasingly made the switch, Nissan found itself on something of a back foot. Enter Ambition 2030, designed to return the company to the forefront of the field – and Nissan’s ambitions have only intensified.

What’s new for Nissan Ambition 2030?

Ambition 2030 started off with big goals, including the achievement of carbon neutrality by 2050, and increasing consumer access to electric vehicles and necessary infrastructure. Another goal was the introduction of 23 all-new electric models, of which 15 were fully EV, by the decade’s end.

However, these figures have since changed. Nissan is now promising a total of 27 all-new electric models, of which 19 are promised to be fully electric vehicles. This takes the percentage of total EV or hybrid models across both Nissan and Infiniti’s global suite up to 44% by 2026 and 55% by 2030, which marks a rise from the previously announced figure of 50%.

The company is also predicting a rise in the sale of electric vehicles across a number of key markets. Sales in Europe are anticipated to rise from 75% to 98%, whilst a rise to 58% (from 55%) is predicted in Japan.

Nissan is also partnering with governments, energy providers and other stakeholders to develop and build the necessary EV charging infrastructure. This would support wider consumer use of electric vehicles, as well as smart grid systems and renewable energy sources. The company has stressed the importance of a circular economy for its electric vehicles, committing to ensuring the sustainability of vehicle batteries by way of improved repurposing and recycling strategies.

Further innovation is promised to improve the ‘accessibility’ and ‘mobility’ of Nissan’s electric vehicles. These include advanced autonomous vehicle technologies, alongside an ‘All-Solid-State Battery’ (ASSB). These batteries are positioned by Nissan as a ‘revolutionary technology’ designed to make EVs safer, more efficient, and affordable. Smaller in size than the current batteries, they enable more sophisticated and flexible design options for electric vehicles, as well as a reduced charging time and more affordable price point for the vehicles themselves.

This latter benefit has particular appeal, given the financial inaccessibility of electric vehicles, which have a higher entry price than their gasoline counterparts. This can often put consumers off the transition from combustion engines to electric vehicles.

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Is Apple Making a Car?

Glass apple logo in city

Apple has long set its sights on the motoring industry. As far back as 2008, rumours circulated that an Apple car was in the works, but progress has stalled on a number of occasions.


So, is Apple making a car, and if so, when will it hit the market?

What is known about the Apple car?

Perhaps unsurprisingly, the road to the Apple car has been full of twists, turns and abandoned negotiations. In 2014, ‘Project Titan’ began – the Wall Street Journal reported that Apple was hiring a range of automobile experts and engineers with the aim of launching a fully autonomous electric vehicle. In May 2018, the tech giant was reported to be in communication with Volkswagen – a partnership that literally crashed and burned as a result of test crashes and employee leaks.

In 2016, rumours suggested that ‘Project Titan’ had been shelved, but by 2020, the Apple car project was back on track. However, 2021 brought reports that negotiations between Apple and Hyundai, and its subsidiary company Kia, had broken down. By April of the same year, Apple CEO Tim Cook equivocated around Apple’s work on developing a car, but hinted that it was a project the company was invested in moving forward.

Is Apple making a car?

Currently, the Apple car is green lit – but it won’t be a fully autonomous vehicle, as the company had initially hoped. The Apple car will be partially autonomous, with a traditional driving seat, steering wheel and pedals (all of which had been removed for the initial autonomous prototype).

At the close of 2022, Bloomberg reported that Apple planned to launch a consumer model of the car by 2026, with a price point of $100,000. As such, the Apple car will be competition for the likes of the Tesla Model S and the top-end BMW i7. Further reports by Bloomberg suggest that the Apple car’s stats and features will be finalised by the end of 2024, with testing commencing in 2025 and production from 2026.

There is significant speculation about the Apple car’s design and technology, with the exact details remaining broadly unknown. Full iOS integration is expected, and a number of pending patents have been noted for vehicular features. These include patents for ‘movable sensors’, ‘smart headlights’ and ‘adjustable tinted windows’, amongst others.

Apple’s AI lead John Giannandrea is reported to be overseeing the Apple car project, with input from Kevin Lynch, a software developer who worked on the Apple Watch. As Apple itself has no experience in the automobile industry, they will need partners – at the time of writing, these are unconfirmed. Whether Apple achieves the goal of manufacturing a car after all these years remains to be seen.

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A Beginner’s Guide to Electric Car Insurance

Tesla driving through a forest

Electric cars are growing in popularity. As of May 2022, around 77,000 new EVs have been registered in the UK this year, of which about 39,000 were in March alone.

It may be that you’re looking to upgrade to an EV (electric vehicle) for your next car, in which case, you’re going to need to wise up on the still relatively new electric car insurance. This article is here to address any questions that you may have.

Do insurers cover electric cars?

Most significant insurance companies – think Aviva, Direct Line, and Admiral – do cover electric cars. However, if you find that your go-to insurer doesn’t offer premiums on EVs, then you may be able to research specialist electric car insurance companies instead.

Be aware that insurance for electric cars may be more expensive than that for non-EVs. This is because electric cars have greater specialist components and servicing costs.

However, with the coming 2030 petrol ban, as well as the rising number of EV buyers, insurance for electric cars is falling – and is only likely to fall further.

Why can an electric car be more expensive to insure?

There are a number of reasons why EVs may be more expensive to insure than conventional vehicles. EVs have specialist parts and expensive batteries. As such, they need to be serviced by specialist mechanics, all of which drives the cost up.

However, it’s important to remember that you will benefit from gas and tax incentives with an EV, and could even take advantage of government grants that reduce the total cost of eligible vehicles by £1,500.

What extras can you secure on an electric car insurance policy?

Car insurance for EVs will offer standard coverage for incidents like accidents or breakdowns, but you may also want to see if your policy can cover items like batteries and charging cables.

EV insurance that covers batteries and portable charging cables and/or adaptors will typically safeguard them against accidental damage, fire and theft while in the car, in use at a garage or at home. If you lease your battery on a separate contract from that of the vehicle, you need to advise your insurance provider too, as this may impact any claim you might open.

You may also want to investigate what kind of legal coverage your policy offers, for example, in case someone trips over your charging cable whilst it’s in use and injures themselves. These issues are complicated, but it’s best to establish your liability cover in advance, so that you know what you’re covered for.

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Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

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8 Benefits of Getting an Electric Car on Finance

Man using the console on his electric car

More and more people are choosing an electric car on finance. With good reason too. The choice combines the benefits of electric cars on their own with the flexibility and convenience of ever-popular car finance.

In this post, we’ll dig a little deeper into the trend with 8 benefits of buying an electric car on finance.

1.   Fuel costs

Firstly, there are the benefits of electric cars compared to getting a petrol or diesel vehicle on finance. Now more than ever, people are looking to get away from the unpredictable (and generally sky-high) fuel prices. Electric vehicles are the best alternative.

According to EDF Energy, it costs around £7 for 100 miles of range from a rapid charge point. Even in a relatively efficient 50mpg car, that would require around 9 litres of fuel – costing at least £14 with today’s fuel prices.

2.   Running costs

When you choose an electric car on finance, you also benefit from lower running costs. Aside from fuel, electric cars require less maintenance than those with internal combustion engines because they have fewer moving parts. At present, fully electric vehicles are also completely exempt from road tax. Not to mention the money you’ll save on inner-city emissions charges, with lots of cities looking to follow suit after London.

3.   Spread the cost

Now onto the benefits of an electric car on finance specifically. Despite the cost advantages above, there’s no denying that electric vehicles come at a premium. At the moment, that’s because they’re produced in smaller numbers and use newer technology. But that doesn’t mean you have to wait until they become more commonplace to make the switch.

Car finance allows you to spread the cost of your electric car over two, three, four or even more years. Over 48 monthly payments, a £3,000 difference between a petrol and electric car becomes just over £60 a month, plus a little interest depending on the rate you’re offered.

4.   Get the latest model

When electric cars were in their adolescence, range was one of the biggest stumbling blocks. Drivers were put off by cars that could only achieve 100 miles or so before they needed charging. Now, those worries have been swept aside with a standard electric car easily achieving upwards of 200 miles from a single charge.

That said, if you want the widest range, you’re best going for a newer model. Without car finance, you may have to settle for an older model and frequent recharging. By opting for an electric car on finance, you can enjoy the freedom of better range – not to mention all the other state-of-the-art features you’ll get with a newer model.

5.   And carry on doing so

Enjoyed driving one of the latest electric cars? You can continue to do so with the right car finance on your side. Personal contract purchase (PCP) deals, for example, come with an optional balloon payment at the end of your deal. In simple terms, you make monthly payments towards the cost of the car, then choose whether you want to make one final, bigger payment to own it outright when your term ends.

If you want to stay up to date and swap your electric car for a newer model, you can do exactly that. Give the car back, sidestep the balloon payment, then take your pick from whatever the car world has to offer in a few years’ time. With the current pace of electric vehicle developments, there could be some pretty impressive cars to choose from.

6.   Stay ahead of the curve

Because finance makes it easier to switch to an electric car, it allows you to do so right now. That means you won’t spend the next three, four, five or even more years wanting to make the switch – but putting it off.

Here’s why that’s such a boon – the sale of new petrol and diesel cars will end in 2030. The closer we get to that date, the more demand there is for electric cars and the infrastructure that supports them. We’re talking about home chargers, above all else.

By getting an electric car on finance, you can make the switch before most other drivers. You can get to grips with driving an electric car, kit out your home with a nice charger and then sit back while everyone rushes around in a few years’ time.

7.   Don’t forget the environment

Have we really listed six points before getting to the environment? Apparently so. Because there’s no combustion to generate power, electric cars don’t emit harmful gases as they drive around. That’s not to say they’re completely eco-friendly at present.

According to the UK Government’s energy brief, just over 40% of electricity is generated by burning fossil fuels. That means that electricity and electric cars still impact the environment to some extent. However, it’s undeniably far less than the impact of petrol and diesel cars. As time goes on, that 40% share will only decrease, making electric cars even better for the environment.

8.   Improve your credit score

Some people looking for an electric car on finance worry that their credit score isn’t up to scratch. Over time, that can also affect applications for loans, mortgages and even tenancy agreements. Thankfully, car finance is one of the areas where there’s a bit more leeway.

It’s absolutely possible to find car finance for poor credit. n doing so, as long as you keep up with repayments, you may also improve your credit score over time. That means your electric car on finance could well be the reason you get accepted for tenancies, mortgages or loan applications in the future.

Start your electric car journey today

If you want to make the switch to electric without the big upfront costs, My Car Credit can help. Using our large network of trusted lenders, we aim to find a deal that’s great for all kinds of drivers. Contact us today on enquiries@mycarcredit.co.uk if you have any more questions about getting an electric car on finance.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

Electric Car FAQs – How Much to Charge?

Person charging up their EV
Most owners of EVs prefer to charge their cars at home, but it can also be done via workplace or public charging spots. The amount that it costs to charge an electric car inevitably varies between these locales. As such, the numbers provided below are a guideline rather than a hard-and-fast rule, but this article provides a good overview for how much it costs to charge an electric car..

How to charge an electric car

There are three main ways that an EV can be charged. Each one will impact how much it costs to charge an electric car.

Home

This is the easiest way to charge an electric car. It can be done via a three-pin domestic socket, but it’s more energy efficient to charge an EV with a dedicated home charger, as these are three times faster than a three-pin socket. As EVs become more popular, there are increasingly flexible at-home charging options available.

At-home charging is contingent on being able to install a unit for EVs, which can be pricey. You may be able to secure on OZEV grant in order to fund this, however.

Workplace

Check whether your employer has workplace EV charging, which is being introduced as a scheme to encourage commuters to switch to electric cars.

Public

The public EV charging network is vast, and it may feel overwhelming. Units can be found at locations including car parks, retail parks and service stations.

How much does it cost to charge an electric car?

Be aware that it’s difficult to provide an exact costing for how much it costs to charge an EV, because this will depend on energy providers, amongst a whole host of other factors, including the location, tariff, charging speed and the vehicle’s battery capacity.

Home

Exactly how much it costs to charge an EV at home will depend entirely on your energy tariff. It also depends on the car that you’re charging up. Smaller vehicles will cost less than larger SUVs.

However, as a general rule, it’s cheaper to charge your electric car at home than either at a workplace or public charging spot. Charging your EV to full capacity generally ranges from under £5 to around £15, depending on factors such as battery size and tariff.

If you’re looking to purchase an EV and are thinking about changing your energy provider, it might be an idea to look for tariffs with more affordable off-peak hours. You can take advantage of these off-peak hours to charge your vehicle, making use of the lower electricity prices.

Workplace

If your company provides workplace charging, you may benefit from discounted or even free charging, depending on their offering.

Public

There’s most variation in terms of how much you can expect to pay for charging an electric car via public infrastructure. Assume that charging your car to 80% capacity will cost anywhere from £7 to £10.

Rapid chargers tend to be the most expensive, but also the most time efficient, as they’ll charge your EV quicker than alternatives. Pod Point report that 30 minutes of charging at one of their rapid charging points at Lidl will cost around £6-7 and give approximately 100 miles of range. It’s slightly more expensive on their rapid chargers at Tesco.

There are also public charging networks like BP Pulse, which has over 9,000 public charging spots UK-wide and works via an app or membership card, offering either pay-as-you-go or subscription-based payment. Ecotricity is a greener option that operates via an app-based membership service, but there are others like GeniePoint and Shell Recharge, too.

Can you charge an electric car for free?

If you’re savvy about it, then there are ways to charge your electric car for free. Some retail parks and car parks offer the chance to do so – but be aware that you may need to pay for parking or conform to other regulations.

Tesco has partnered with Volkswagen and Pod Point, providing free charging on its fast charge points – but be aware that rapid charge points still require payment.

You can also use the Pod Point app and Zap Map to check for UK chargers near you. Use the filter tool to look out for free charging points, or opt for paid ones according to your need.

Cost-effective finance for electric vehicles

If you have doubts about how affordable owning and using an electric car might be, My Car Credit’s team of specialists can advise. We’ll give you an EV car loan quote and help you to find ways of driving more sustainably that won’t break the bank.

Get in touch today on enquiries@mycarcredit.co.uk and our helpful team will get back to you.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

Which Electric Car Should I Buy?

man using his phone to research which electric car to buy

With high inflation outstripping wage and benefit increases, the UK is going through a serious cost of living crisis. As a result, people are looking to cut costs in every area of their lives – and driving is no exception.

Economical cars can help you do that, saving you on fuel or even road tax over time. While it might seem like a small amount, every penny and pound will count as we all feel the squeeze over the coming months and years.

Keep reading as we look at 8 of the most economical cars that can make driving more affordable.

Most economical electric cars

First and foremost, electric vehicles account for many of the most economical cars on the market. That’s because they’re exempt from road tax thanks to zero emissions, cheaper to run because of fewer moving parts, and cheaper to power with electricity costing less than diesel or petrol.

On the flipside, they’re obviously more expensive to buy. That’s where a car loan finance calculator can help, showing you how the cost can be spread. To make things even more economical, here are some of the cheapest models available…

Fiat 500 Action

Priced at around £21,000 brand new, the Fiat 500 Action is one of the cheapest electric cars available. That’s partly down to its smaller 24kWh battery (compared to 42 kWh on previous models). As a result, the range is a modest 118 miles, making it ideal for urban commutes, short trips and general day-to-day use as long as you have a home charger.

Vauxhall Corsa-e

If you’re looking for something that can go a little further, the Vauxhall Corsa-e is a good option. The supermini’s official range is 222 miles, with prices starting around £25,000 brand new. It’s nice and lightweight so the charge won’t be used up unnecessarily. Naturally, with both of these cars, there’s a lot of money to be saved going for a used, older model.

Most economical hybrid cars

If you’re not ready to be plugging in just yet, or maybe you live in a remote area where chargers aren’t readily available, hybrids offer a good alternative. They use regenerative braking to generate electricity while driving, meaning you can supplement fuel from the pump without any extra work.

Toyota Yaris (and Yaris Cross)

Toyota is leading the way when it comes to hybrid efficiency. Both its Yaris 1.5 Hybrid and Yaris Cross 1.5 Hybrid offer around 60mpg on average.

The standard Yaris is smaller and cheaper to buy, making it the most economical hybrid car that’s ideal for individuals, couples or small families. As a small SUV, the Yaris Cross provides all that, plus a little extra space and the sought-after SUV styling – albeit at a little extra cost.

Elsewhere, the Toyota Prius is another top contender. While it doesn’t quite match the Yaris for fuel-efficiency, it’s been around for much longer, meaning there are a greater choice of older, used vehicles at a cheaper price.

Most economical diesel cars

While cars that are powered solely by fuel burning can’t quite match the efficiency of electric and hybrid models, they’re still some of the most economical cars, thanks to their lower price tags. Of the two fuels, diesel is known for its better fuel economy – making the next two cars a pretty good option overall…

Peugeot 208

With a 1.5-litre BlueHDi diesel engine, the Peugeot 208 achieves around 70mpg. Despite being a relatively small car, its five-door design makes it easy enough for rear passengers to get in and out. Its 311 litres of boot space makes it similar to other small cars, with the option to fold down rear seats for a 1,100 litre total.

Vauxhall Corsa

A second mention for the much-loved Vauxhall Corsa – this time for its 1.5 Turbo D model rather than its electric counterpart. It’s almost a carbon copy of the Peugeot 208 with the tiniest difference in mpg and boot space. That said, it does have a more responsive drive, meaning you can go economical without feeling it on every corner.

Most economical petrol cars

Out of all the fuel options, petrol is typically the least efficient – but that doesn’t necessarily mean it’s not economical. There are plenty of petrol cars to choose from with small engines, which makes them cheaper to buy and run. By choosing a smaller petrol car, you can still get from A to B at a relatively low cost.

Peugeot 108

First on sale in 2014, the Peugeot 108 is the quintessential economical car. It has an official mpg of just under 59mpg, thanks to a modest 1-litre engine and small, lightweight design. That does pose some issues for practicality, with the car and its 180-litre boot more suited to people travelling alone or as a pair. However, if you’re looking to cut costs, it’s hard to go better than this reliable city car.

Citroen C1

Like our top diesel contenders, we have another case of two similar cars matching each other stride for stride. The Citroen C1 is another economical car powered by petrol, with the same mpg as Peugeot’s city car – though it does come with a slightly bigger boot.

Keep your car economical

With the cost of fuel at an all-time high, not to mention everything else rising in price, it’s never been more important to have a car that’s economical to run. Invariably, that means you’re better off with newer models that are more fuel-efficient.

With My Car Credit, you can make your purchase as economical as your up-to-date car. We compare finance from our established network of lenders, saving you time while ensuring you get an affordable deal that spreads the cost of your next car.

If you have any questions about our process, don’t hesitate to contact our team on enquiries@mycarcredit.co.uk and we’ll get back to you as soon as we can.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

Electric Car FAQs – Where to Charge?

Electric car logo on road
Electric Car FAQs – Where to Charge? If you’re thinking about switching to an electric car, “where to charge” is one of the most common concerns. After all, you can’t drive an electric vehicle that’s not powered up.

Thankfully, infrastructure has improved vastly over the past decade. Nowadays, there’s a long list of options for choosing where to charge your electric car. Read on as we discuss each of them with their pros and cons.

Where to charge your electric car

At a fuel or service station

We’ll start with the most obvious – the place all drivers go for their petrol and diesel. Service stations and fuel stations offer the fastest way to charge an electric car. That’s because most of them are equipped with rapid or even ultra-rapid chargers providing 43+kW of power.

These chargers have DC connectors, meaning they convert power before feeding it into your car’s battery for faster charging. As a result, they can typically charge up to 80% within 30 minutes. That means you don’t have to wait around or hold up the queue when you’re “filling up”, so to speak.

One downside, compared to the options we’ll go on to discuss, is that this rapid-charging service comes at a premium. As well as the cost of electricity, you’ll be paying a little more for every kW of energy you use at a fuel or service station.

At home

Even with rapid or ultra-rapid charging, it’s not ideal having to go out and wait for 30 minutes every time you need to power up your car. Where better to charge an electric car than at your own home?

It’s no surprise that at-home charging is becoming more and more popular as people switch to electric. To be clear, we’re not talking about a standard 3-pin plug socket. While they can be used for emergencies, they only provide around 3kW of power. That means they can take anywhere between 15-40 hours to fully charge a car. Not to mention the issues with weather and trip hazards if you don’t have a suitably located and protected outdoor socket.

Instead, the majority of people who purchase an electric car will also look into getting their own home charger. These typically come with 3.6kW or 7kW ratings, which are referred to as slow and fast, respectively. With a 3.6kW charger, it can take between 10-20 hours to fully charge a car. That’s cut to 5-10 for its 7kW counterpart.

Charging at home with a dedicated charging unit is undoubtedly the most convenient option. Many people choose to charge overnight so their car is powered up and ready to go in the morning. That may also allow you to take advantage of cheaper off-peak energy prices, depending on your tariff. Either way, your home is the cheapest place to charge an electric car – excluding the odd free charging opportunity we’ll cover below.

In car parks

As electric cars become more and more popular, car parks are having to adapt to meet demand. From supermarkets, retail parks and shopping centres to gyms, cinemas and town centres, electric charging facilities are being installed as a way to modernise car parks and attract customers with electric cars.

Needless to say, this is just as convenient as home charging because you can charge while you shop, exercise, eat or even watch a film. In some cases, businesses or councils will even provide charging for free as a way to incentivise using the nearby facilities or attractions.

As an example, Tesco has rolled out free 7kW charging at some of its stores, with the option to pay for a faster service. That can give you up to 50 miles per hour while you shop. It’s worth noting that these car parks will have a maximum stay – usually 2-3 hours for Tesco – so you can’t rely on them for anything more than a top up.

At work

Private business car parks are another place where electric charging units are popping up. There are a variety of reasons behind this, including:

  • Convenient charging for their own electric fleet
  • Making chargers available to visitors and clients
  • Providing an additional perk for employees
  • Boosting a company’s green image

Since 2016, businesses have also been able to claim back some of the installation cost. With the Workplace Charging Scheme, they can claim up to £350 per unit for as many as 40 chargers. This has no doubt made them more appealing to businesses throughout the UK.

So, if you’re wondering where to charge an electric car, your own workplace could be the answer. Some companies will provide charging to employees for free as a perk, others will require payment.

Which is best for you?

With the four options above, there’s plenty of choice when you’re wondering about where to charge your electric car. In terms of which is best, it depends on your requirements, nearby facilities and how you use your vehicle.

In most cases, a home charger is a smart investment as it will always be available when you need it. If you have electric vehicle charging at work and mainly use your car for commuting, however, you may be able to get by without a home charger.

Thankfully, you don’t have to decide between the different options. It’s perfectly normal to have a home charger but use supermarkets, work chargers and even service stations for a top up whenever it’s needed while you’re out and about.

Upgrading to an electric car

“Where to charge” isn’t the only query from people who are looking to make the switch from petrol or diesel to electric. With electric cars relatively new on the scene, tackling the up-front cost is another area of interest. Thankfully, car finance can help you surmount that hurdle by spreading the cost over several manageable monthly payments.

At My Car Credit, we’re dedicated to helping drivers across the UK upgrade their ride – including those keen on green electric cars. Use our car finance checker to get a better idea of how much it will cost, then let us compare deals from a large network of trusted lenders to find you the best rate. You’ll have an estimated monthly cost quicker than you can say “ultra-rapid charging”!

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!