For a long time, electric vehicles were deemed expensive and inaccessible for many people but with recent technology advancements, they have gained a lot of popularity in recent years. With EVs becoming more common on the road, the price it costs to buy one has decreased massively- not to mention that they are significantly cheaper to run than petrol or diesel vehicles. Making the switch could greatly reduce the amount you’re spending, which is especially important considering the recent increase in costs.
The cost of charging an electric vehicle is remarkably lower compared to the price of fuel. On average, the price per mile is twice as low for electric vehicles, with newer models being even cheaper to run.
The best and cheapest option is to charge your EV at home; many of them can be charged fully overnight and it will spare you from using the more expensive public chargers.
Driving 10,000 miles in an electric Volkswagen e-up! only costs 8.7p/mile, which equates to an annual cost of £870 if the car is charged at home. In contrast, the cost of running a petrol up! can reach £2,060/year (20.6p/mile)- over double the cost of its electric counterpart.
EVs are exempt from emission charges
An increasing number of cities have implemented low emission zones to reduce pollution in highly populated areas. Vehicles that don’t meet the emissions standards are required to pay a daily fee when they enter these cities; the daily emission charges in London can set you back £15-£17.50 per day!
All electric vehicles are exempt from the congestion charges and Ultra-Low Emission Zone (ULEZ) in Central London, but they still have to be registered with Transport for London (TfL) prior to your visit.
Is EV maintenance cheap?
Electric vehicles have fewer parts than combustion engine vehicles: there are less fluids and moving parts to check. Therefore, the likelihood of a part needing to be replaced or fixed is lower, which reduces the cost of parts and expensive labour.
EVs are equipped with a regenerative braking mechanism that converts the kinetic energy from braking into electricity which recharges the vehicle’s battery. Regenerative braking also assists traditional brakes, reducing their use and extending their durability; this is just another factor that makes EVs cheaper to maintain than vehicles that use other types of fuel.
Getting an electric car on subscription
We understand that buying a new electric vehicle is something only very few can afford, especially in such an unpredictable time. However, with rising costs of fuel and the ever-increasing pressures of climate change, switching to electric may come sooner than you think. Therefore, electric vehicle subscription can open many more doors for you when making the switch to electric.
Have a new car on subscription, with a fixed monthly cost that includes the car, insurance, maintenance, and breakdown cover. Enjoy the convenience of a fixed monthly fee, the comfort knowing your car won’t cost thousands in maintenance and have a new car without worrying about depreciation!