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As I was dropping off the dogs at creche this morning, I couldn't help but wonder if now isn't a good time for those getting close to retirement age to switch out their gas-powered or diesel-powered vehicles for a new or used electric vehicle?

In my opinion, there is no disadvantage to this plan outside the cost of a new or almost new car, which you should consider purchasing a few years before you retire. It must be awful to have to shell out pounds for gas or diesel instead of a few pence to charge an electric vehicle, especially considering that many retirees will theoretically take a "pay cut" from their income from paid jobs.


I figured I'd post it here for feedback as I think there are excellent arguments against it.

Concerned about the potential correlation between retirement and purchasing an electric vehicle.

An important consideration is that, in most cases, retirees get a lump amount, which could be a good time to purchase a new vehicle, if that is your intention. Another is that, if you had a business vehicle, you may be required to return it. It would depend on all the normal variables whether the new automobile should be an ICE or an EV.


Another thing: any "investment" with a long payback time loses its appeal as one ages!

Not until you're close to retirement age is it a good idea.... Many of us have officially retired, I believe. I made the switch to electric vehicles because a crippling injury I sustained in my twenties necessitated an automatic gearbox. Remember back forty years when automatic transmissions were considered dangerous? When they were introduced, it caused a huge spike in car prices, and, let's be honest, most of us stuck with manual transmissions in our little cars. In the present day, there are substantial cost advantages that make an electric vehicle (EV) very inexpensive when looking at the full life cost. This is especially true if you have a driveway or access to home charging.

Sure, I can get behind that. There is no clear correlation between "EV and Retirement" in my opinion; rather, it is a matter of personal choice dictated by one's circumstances. There is a vast list of reasons to acquire an EV (or not) but the most important ones are:

Cost of original purchase (new or used) / budget
Operating expenses (including but not limited to: charging, taxes, insurance, repairs, and the "new"), which are to be introduced Taxes on mileage, etc.

Impairment (something to think about if you enjoy trading in your vehicle often)
For those who aren't willing to pay full price, PCP/HP "Deals"
One compelling argument in favour of buying an EV is the possibility of taking advantage of overnight discounted kilowatt-hour rates by charging it at home.
The "Eco" credentials, which are inherently debatable (a whole topic), and your desired level of environmental friendliness
Consider the "Petrol head's" perspective on driving compared to the "eco-friendly" perspective of an electric vehicle!
Reliability, build quality, and dealer/manufacturer assistance are all factors that apply to any type of vehicle, whether it's an ICE or an EV.
The final one is if you're prepared to deal with the "mindset change" that comes with electric vehicle ownership. (Trip preparation, EV charger selection, KW tariff management, etc.).


Just a handful of the many choices you'll have to make when purchasing an electric vehicle (or any car, really).