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Cost Of Electric Cars

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How much does an Electric car cost?

Whichever you choose, it may surprise you how much you can save in the long run. There are some great deals, government grants and tax incentives that make owning an electric car more affordable than you might think.

Benefits of choosing an Electric vehicle

There are lots of cost advantages to owning an electric car. Here are some you might find surprising.

Lower maintenance costs

Petrol and diesel engines are incredibly complex and have hundreds of components that can wear, fail and need replacing. Electric cars on the other hand have just three main components and far fewer moving parts than a combustion engine. That means servicing and maintenance is simpler and cheaper, which saves you money.

Tax Benefits

There is no yearly or first-year tax with an electric vehicle, which could save you around £500 over the first three years of ownership compared to a mid-sized petrol or diesel equivalent.

Big savings on BiK tax for company car drivers

Company car tax is already drastically lower if you drive an electric car. From 6th April 2020 battery electric cars are now 0% BiK. This increases to just 1% post April 6th 2021 and 2% in 2022/23- that represents a massive saving over a conventional car.

Electricity is cheaper than petrol or diesel

Electricity is cheap, particularly when you charge at home. When you look at cost per mile, driving on electricity can cost around a third of an equivalent petrol or diesel car.

Electric car cost myths

An electric car could massively reduce your running costs, but is it right for you? To help you make an informed choice, we’ve dispelled some of the most common EV myths.

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