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How Much Does It Cost To Run An Electric Car?

Not only will electric models help you to reduce your carbon footprint, but they're also cheaper to run, require less maintenance and save you money on fuel. Win, win! Here's everything you need to know...

Fuel Costs

'Fuel' costs are much lower for electric cars than for petrol and diesel vehicles. The cost to charge an EV depends on the size of the battery and where you're charging it. For example, according to SEAT, charging a Mii electric could cost only around £5.29, or about 3.3p per mile (based on the average overnight electricity rate of 14.37p per kWh). If you're curious how much it will cost you, Zap-Map have two handy calculators for home charging and public charging.

What's more, the VAT on domestic electricity is only 5%. Many supermarkets, cinemas and some car parks also offer free charging - as do some workplaces. In the case of hybrid vehicles, they still use less fuel than petrol cars - the electric engine powers the car at lower speeds and gas engine powers it at higher speeds.

Maintenance

Compared with petrol and diesel vehicles, EV servicing and maintenance costs are considerably lower than their petrol and diesel equivalents, as they have fewer moving parts than traditional engines. View our article on maintenance to find out more!

Road Tax And BiK

Following changes to the rates of Vehicle Excise Duty (VED) in April 2017, zero-emissions vehicles are exempt from road tax (unless the car has a list price of more than £40,000). EVs also attract much lower rates of Benefit in Kind (BiK) company car tax. For 2020/21 EVs, the current low rate of company car tax will even be reduced to zero.

Insurance

One area where electric cars can be more expensive than petrol/diesel vehicles is insurance - mainly because there are less options when it comes to repairing them. However, you may be able to negotiate a limited-mileage policy.

Out And About

There are also savings to be had when driving around town. EVs travel free in Clean Air Zones and London's Congestion Zone, and in many places, pay reduced or zero parking charges. In addition, planned 'green licence plate' initiatives, which would allow EVs to use bus lanes.

Additional Savings With Hendy

At Hendy, we want to make your transition to driving electric as seamless as possible. That's why we're delighted to offer you a bespoke package of benefits in collaboration with our partners, Zoom EV. You can save up to £1,000 in your first year of ownership with our host of offers and discounts, as well as being connected with the essential services you need to run your EV. Upon completion of your purchase, our Sales team will start the process of getting your Hendy Group EV Driver Benefits set up! Find out more here.

Join The Electric Revolution With Hendy

For more tips and helpful guides about electric/hybrid driving, check out our News page. From the types of vehicles available to information about charging, our series of articles will give you complete confidence when making the switch!

And click here to view the latest electric and hybrid models available at Hendy!