Car Share Means Greener Commuting
The number of hybrid and all electric vehicles about to be launched is a sign of the auto industry’s response to the inevitable consequences of peak oil production. The more optimistic estimates forecast that to be 2020 or later while realists maintain that the peak has already occurred. What is undeniable is that at some point in the next few decades there won’t be enough of the stuff left to waste it by burning as fuel for individual personal transportation. At least, not at a price that most of us would be willing or able to pay! One response pushed forward by the auto industry and various governments is the development of hybrid or all electric vehicles (EVs).
A government grant of up to £5,000 towards the price of purchase will give these alternatives a boost in that it will make them seem reasonably affordable. EV models that may be eligible could include the £28,900 four-seater Mitsubishi iMiEV and the £28,350 Nissan Leaf, to be built in Sunderland from 2013. The subsidy will apply to outright purchase and should also have an impact if you’re looking to obtain an EV via contract hire. Car leasing monthly payments are calculated on the basis of purchase price minus expected resale value at the end of the lease term, so any decent car leasing company should pass on purchase cost savings through the subsidy to their customers. Like all cars, electric vehicles will depreciate, but should retain their resale value pretty well, so contract hire monthly charges will probably be on the high side of “reasonable”.
Other measures that don’t rely on completely changing the motive power technology will probably gain more ground. Car pooling or car sharing is one approach that is relatively easy to implement and makes a great deal of financial and eco-sense whether the vehicle is powered by electricity or a fossil fuel (depending of course on how the electricity is originally generated). A number of passengers -drivers could share fuel costs and the burden of actually driving, using bus lanes or dedicated car pool lanes to speed their journey. This solution might well boost the demand for short term car insurance to cover a changing number of drivers who can use a pooled vehicle to make a regular commute. It could be taken a stage further, with a group of friends or colleagues clubbing together (informally or with some form of employer support) to collectively purchase a hybrid or electric vehicle.
While one named driver would have to be the main insured person, one day car insurance, which actually runs from one to 28 days, could be put in place for the remaining pool drivers. This would not only be far cheaper than adding several names to the main policyholder’s schedule, but would also allow for last minute replacements should one of the regular pool members be ill or drop out for any reason. The other benefit is that any no claims bonus on the named individual’s regular policy is fully protected, no matter what happens with the pooled car.
Written by EcoGirl on January 24th, 2011 with
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