A short guide to electric driving costs

A short guide to electric driving costs

From cost to insurance to driving in the rain, the EV industry is still relatively new, and many people are keen to make the switch to an electric car or plug-in hybrid but still have concerns about purchasing an electric vehicle.

Initial outlay of an electric vehicle

So let’s start by talking about the cost. The initial outlay for an electric or plug-in hybrid vehicle can be costly, anything from £15k to as much as £100k or more for a top of the range electric car. And whilst buying second hand may be an option, it is worth considering that there may be deteriorated battery life and a new battery could be costly.

However, electric cars have fewer moving parts than their traditional counterparts, meaning less to maintain and service, although you should bear in mind that the servicing side requires expertise, probably via a main dealer rather than an independent garage who may not have specialist mechanics who are qualified to work on electric vehicles just yet.

Electric vehicle running costs

Now let’s talk running costs. To fully charge an electric car overnight will cost around £3.64 which equates to less than 4p per mile and that is considerably cheaper than the most economical diesel or petrol vehicle. In terms of charging, there are various options, from installing a dedicated charge point at home, to public charging or pay-as-you-charge options. These vary in cost from free, as an incentive for shoppers, to around £6.50 for using a rapid charger.

Insuring an electric vehicle

Insurance may be more costly than with diesel or petrol, mainly due to more limited repair options. You may be able to reduce insurance costs with a limited mileage plan, and it is worth shopping around to negotiate a deal. It is a good idea to look into insurance options and costings before purchasing an electric vehicle to save any unexpected and costly surprises.

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