Whether you’re eyeing up the Audi e-tron range or Volkswagen electric cars with both style and power, you may be wondering what the running costs are of electric and hybrid vehicles. Here at Swansway Group, we offer a wide range of zero and low emissions vehicles and are here to break down the costs for you.
Firstly, it’s good to know that electric vehicles are considered much cheaper to run than diesel or petrol vehicles. In fact, it’s thought electric vehicles can travel up to three times the distance of their fuel-burning alternatives for the same money according to new ‘miles per pound’ figures. The main expense comes from recharging with the cost of electricity being a talking point. Where and when you charge your vehicle will also determine your outgoings.
As over 90% of electric vehicle charging takes place at home, let’s focus on home electricity tariffs. If electricity costs around 14 pence per kilowatt-hour (on average, rates vary), then a 52kWh battery will cost around £7.28. Many cars travel well over 200 miles on a single charge making the overall cost of ‘fuel’ extremely low.
Electric cars and vehicle tax
Fully electric cars releasing zero emissions are currently exempt from tax meaning they’re not eligible for Vehicle Excise Duty payments. Other vehicles are taxed depending on how much carbon dioxide they emit. Hybrids bought after 1 April 2017 also tend to face lower charges than those bought in other years.
Service and maintenance
As electric vehicles have fewer parts to maintain they generally cost less to keep in tip-top condition. That said, they’ll still require an MOT once a year after they turn three.
Insurance costs vary depending on the make and model of your vehicle. Parts can be more expensive to repair if something does go wrong which can potentially lead to high premiums. But as electric vehicles become more mainstream, prices should balance out. Always compare and contrast policies to find the best deal.