Are you thinking about jumping on the electric car bandwagon? There are plenty of incentives to do so, not least preparing for the government’s impending ban of new petrol and diesel sales. Indeed, reducing environmental impact is likely to be the key driver of the recent boom in electric vehicles, with more registered in 2021 than in the previous five years combined.
It’s a fact that electric cars produce fewer emissions than traditional fuel alternatives. But it’s also true that they cost more upfront, which is enough to deter many drivers from getting behind the wheel. But this point should be taken in balance against the long-term savings electric cars promise, especially as their price drops more in line with petrol and diesel models over time.
Read about the different ways electric cars can cut your transport costs below.
Fuel
Let’s start with the obvious one. All-electric cars run purely on electricity, so you won’t have to take any expensive trips to the local garage or fuel station. Even with the recent rise in electricity prices, petrol prices have increased at a similar rate – so you’ll still save a good chunk of change for every mile you drive.
Charging at home is the most cost-efficient option, though most workplace chargers work out cheaply too. Plus, many charging points at places like supermarkets and hotels are completely free.
Road tax
Did you know you can completely avoid road tax if your car is pure electric? This annual cost targets inefficient vehicles hardest, so hybrid electric cars get a lower rate than full petrol or diesel cars too.
Electric cars are exempt as they produce zero exhaust emissions. You still have to apply each year – and you’ll get hit with a hefty fine if you don’t – but there’s nothing to pay at the end of the process.
Servicing
If you’re currently driving an older petrol or diesel car, you might know all too well how servicing and repair costs can rise. But the good news is that electric vehicles are cheaper to maintain in most cases.
This is primarily because they have fewer moving parts. Having no engine and transmission means there’s less that can go wrong, and recommended servicing intervals are longer too.
Government grants
It’s no secret that the government is keen to motivate drivers to buy low-emission cars. One way they’re doing this is through a discount on the price of new vehicles – and you don’t even need to do anything to get it. Dealerships simply knock the grant off what you pay.
The initiative could save you up to £1,500, providing your chosen model produces zero tailpipe emissions, can travel at least 70 miles without producing emissions at all, and costs under £32k.
Are these savings enough to convince you to make the switch?