Get the Tata Capital App to apply for Loans & manage your account. Download Now


Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required

Tata Capital > Blog > Personal Use Loan > Electric Cars vs Petrol Cars – Pros & Cons

Personal Use Loan

Electric Cars vs Petrol Cars – Pros & Cons

Electric Cars vs Petrol Cars – Pros & Cons

Confused whether to buy a petrol or electric car? You're not alone! Given the recent push for electric vehicles and the growing variety of options in the segment, it's only natural the frenzy has caught up to you. 

Yet, as a buyer, you're probably scratching your head over all the information coming your way. Are electric motors better than combustion engines? Are petrol cars a thing of the past?

Only weighing the two options together will help you know. So, let us compare EV vs petrol carsin detail below.

What are petrol cars?

Petrol or gasoline cars run on a spark-ignited internal combustion engine, which mixes fuel and air after compression.

Pros of petrol cars

  • They come with an economical price tag
  • Petrol engines are easier to tune and tune-up
  • They offer better agility – acceleration and speed – than EVs
  • Because engines last longer than electric motors, petrol cars typically have a long service life.

Cons of petrol cars

  • They consume gasoline which leads to overwhelming volumes of CO2 emissions, thus polluting the environment.
  • Despite being affordable to purchase, petrol cars are overall heavy on the pockets due to high fuel prices and recurring maintenance costs.

What are electric cars?

An electric car is a vehicle propelled with electric motors that use energy stored in rechargeable batteries.

Pros of electric cars

  • They feel lighter to drive.
  • You can install EV charging units in your home garage to recharge your electric car instead of going to a gas station.
  • They help reduce your carbon footprint as they do not emit harmful CO2 emissions.
  • Since EVs have fewer mechanical parts, they don't require maintenance and servicing as frequently as needed for petrol cars.
  • Because electricity is cheaper than fuel, the running costs of EVs are less compared to petrol cars.
  • They are also incredibly fast and make less noise.
  • You can enjoy certain tax benefits if you buy an EV using a personal loan.

Cons of electric cars

  • The range of EVs, or the distance a car can cover before needing a recharge, can be a problem. They can only cover a few km daily.
  • Installation of Level 2 charging stations at home can be an added expense.
  • There is less service availability for EVs than petrol cars.
  • EV battery replacement costs can be hard on the pocket. However, a battery has a pretty long shelf life of 10 years.

Additional Read: Things You Need to Know While Getting an Electric Car in India

Electric cars vs petrol cars: At a glance

Point of comparisonElectric carsPetrol cars
Buying costExpensiveCheaper than EVs
Maintenance costLowHigh
CO2 emissionsClose to zeroHigh
RangeHigher range in the city than highwaysHigher range in the highways than city roads
Fuel costsLowHigh

Additional Read: Is Electric Car Better than Petrol Car?

Your turn

With so many automakers joining the electric segment in India, it's safe to assume EVs will rule the roads soon. Do you also want to get onto the EV bandwagon? Apply for a loan with Tata Capital to get personal loan interest rates as competitive as 10.99%!

Instead of exhausting your savings, you can buy the car upfront and pay off the loan in affordable personal loan EMIs. Check your eligibility requirements on our website.

Leave a Reply

Your email address will not be published. Required fields are marked *