Electric cars are quickly becoming an appealing alternative to traditional fossil fuel-powered vehicles, but how do the running costs stack up? electric – so let’s look at the numbers over 12 months. The ongoing running costs of a battery electric vehicle (EV) are generally lower than an internal combustion engine (ICE) vehicle as they have fewer moving parts and require less servicing, but the purchase price of EVs remains significantly higher than a petrol or diesel equivalent. If you’re thinking of investing in an ultra low-emission vehicle, surveying the options can appear to be a bit of a minefield.Here, we take a look at the two most common plug-in options – plug-in hybrids, which can run on electricity but also have a petrol or diesel engine, and pure electric vehicles, which run on electricity alone – to see which option might work best for you. This makes the overall insurable risk less competitive than many traditional, ICE options.”. the electric Golf, though, and it’ll be just £16.65. When it comes to depreciation, electric cars hold their value twice as well as petrol cars, only losing 12 per cent of their value per year compared to 24 per cent for the petrol cars. While Mr. Burns still has to drive to the petrol … Disclosure JCT600 Limited is an appointed representative of ITC Compliance Limited which is authorised and regulated by the Financial Conduct Authority (their registration number is 313486) and which is permitted to advise on and arrange general insurance contracts. While electric cars represent a very narrow market percentage currently, sales of … If you just want the simple There are variables though, such as which electricity supplier you use. Electric cars are quickly Neil Ingram, head of motor product at Direct Line, added: “It is an exciting time for electric vehicles, with a record number of these licenced cars on Britain’s roads last year. i3 cost includes government grant All that’s left for you to do now is decide which electric car suits you and your lifestyle best! Holidaycottages.co.uk, Brits going on a staycation are, on average, prepared to The mileage and frequency should reflect the period you typically use to monitor the fuel useage - a typical driver will travel 10,000 miles in a year. However the price is still very expensive in comparison to electricity and thus makes up the majority of the cost of running a petrol or diesel vehicle. Purchase costs are also lower for the majority of petrol models compared to similar EVs. forget, that’s just one journey in one direction. How to Increase Electric Car Range: Get the Maximum Miles from your EV, According to the Office for National Statistics, which electric car suits you and your lifestyle best, JCT600 Kids’ Activity Pack | Christmas Edition, JCT600 reviews… the Mercedes-Benz A250e, Home Delivery and Order & Collect at JCT600, Automotive Web Site by Bluesky Interactive. Using the fuel cost calculator. “We expect prices to come down in future, thanks partly to the Government’s commitment to making greener vehicles more accessible, but also to advances in technology ensuring that purchasing, refuelling, maintaining and insuring an electric car becomes easier, cheaper and better for the environment.”. If you have a cheaper fixed tariff, then it's likely the cost to fill up your electric car will be cheaper still. On that basis, commuting in the A more useful Mirai gauge involves measuring the fuel cost per mile and comparing it with, say, a 40mpg petrol car. same journey in the e-Golf will set you back just 34p, however. Such is the variety in the Golf range now, that Volkswagen actually produce a version with each of the three primary fuel types – petrol, diesel, and electric. Well, jump in the petrol Golf, On the face of it, the savings aren’t huge, but over repeated journeys this quickly adds up. According to research by Lower lifetime cost than petrol because of lower depreciation; Engines last longer and tolerate much higher mileages than petrol; More efficient (by around 25% compared to petrol) so fuel costs are less, providing pump prices stay close. Petrol, Diesel, Hybrid or Electric: Which is Right for Me? round trip will cost £63 on the nose. We’ve chosen three Even including the sometimes high initial purchase cost of electric models, they are more cost effective than their petrol equivalents over the long term, but the difference isn’t huge. Doing the same with a petrol-powered model would cost £53,625. You’ll pay £9.99 per kilo of hydrogen, so a 4.7kg fill-up costs about £47. will cost 39p. fewer moving parts. Consider that EVs have 1/3 of the moving parts compared to traditional gasoline vehicles. PROS. above, there are clearly significant savings to be made by switching to The models with similar performance – the key stats are summarised in the table below: Please note: The price per unit of fuel is based on UK average at the time of writing; any significant changes in fuel price will have a direct impact on cost per mile, and overall journey cost. Click here for more info. becoming an appealing alternative to traditional fossil fuel-powered vehicles, but Anca Young, insight and intelligence manager at Thatcham Research, commented: “Although the cost of lithium-ion batteries used in EVs is reducing, they remain more expensive than conventional internal combustion engine (ICE) powertrains and are therefore generally more expensive to purchase. Insurance experts say electric cars can attract higher premiums – but they are coming down Fuel costs: According to research from the Direct Line Group, the average fuel costs of a petrol car are £824 per year, while an electric car will only cost £343 in fuel/charging over a 12-month span. directions every working day, that’s 18.64 miles every day for 232 days (52 In 2020, the average lifetime running costs - including purchase price - for an electric car is £52,133, while an equivalent petrol model is £53,625. The Journey Cost Calculator can be used to compare the costs of driving an electric vehicle on your typical journey with that of driving a petrol or diesel car. You can now compare running costs for electric and petrol cars. The data - which comes from Direct Line Group and is based on a comparison of five electric car models and their petrol equivalents available to buy new in 2020 - also shows annual Vehicle Excise Duty, MoT and servicing costs are 49 per cent lower on average for EVs than they are for the similar petrol models. Golf a penny over £160. when you factor in maintenance costs, electric starts looking like an even more Our analysis also shows that with the ban on new non-electric cars set to come into force in less than 15 years’ time, Britons could already be saving money by switching from a traditional petrol or diesel car to an equivalent electric model. However, petrol-hybrids deliver a vastly superior fuel economy around town, which has greatly improved the combined (average) figure. days each year). All rights reserved.Auto Express™ is a registered trade mark. However, a petrol car would cost around £10 or 10p per mile if fuel cost £1.24 per litre and we assume the UK’s average new car fuel consumption in 2018 was 50.5 miles-per-gallon for petrol cars. The lower cost is a key factor driving the rapid rise in electric car … Under those circumstances, the petrol Golf would cost £87.36 across a full year, and the diesel Golf £81.12 a year, while trips in the electric Golf would cost just £23.09. Choose a petrol Golf, and the Miles Driven. Less moving parts, equals less maintenance related costs in the long run. Audi A3 Sportback 1.2 TFSI SE. List Price: £74, 425.00: £37, 740.00 Prices are based on the current average prices for: Diesel £1.2487 /litre Petrol £1.2216 /litre Electric £0.1386 /kWh Results including the congestion charge assume that the congestion charge is paid 230 days per year at the Auto Pay rate of £10.50 Volkswagen Golf SV. the most of. Electric cars are already cheaper to own and run than petrol or diesel cars in the UK, US and Japan, new research shows. Nissan Leaf comparison Initial extra cost £2590 Annual saving £688 Miles to break even 37,625 miles Days to break even 1373 days. Compared with the 1.2 petrol A3 Sportback, the Nissan Leaf is £2590 more expensive to buy and takes a around 37,625 miles to break even or 1373 days. Add to this that electric cars are virtually maintenance-free, and you can see why they are becoming so popular these days! It might be a journey that you and your dash to the supermarket will set you back 42p, while the diesel Golf BMW 1 Series. how do the running costs stack up? The cost of charging up an electric car from a domestic supply is relatively low - say between one and two pence per mile. In the National Travel Survey 2017, the average annual mileage for cars in the UK was estimated to be 7,800 miles. only make once a year, but a round trip of 450 miles is a fairly substantial By accepting you are agreeing to our recommended use of these cookies. Factor in average fuel costs alone and the typical UK driver could save £1,200 a year. In the diesel Golf, the cost will be £1,014.00. However, running costs can work out considerably lower for hybrid and electric cars. That’s a saving of around £60 over the traditional fuel cars. … Besides the obvious green benefits of electric vehicles, the cost savings in comparison to equivalent petrol or diesel cars is significant. Currently, hybrid and electric pricing starts higher than petrol or diesel because of the battery – the complexity of production and materials used. petrol Golf costs £605.43 a year, the diesel Golf £562.18, and the electric The average total cost of buying a new electric car in 2020 and driving it for just under 14 years - the average lifespan of a car - has been calculated as £52,133. Jaguar I-PACE. And We are only able to offer finance products from these providers. To use the tool, select an electric vehicle from our list of new or used plug-in vehicles and select a petrol or diesel car that you would like to compare the EV with. “There’s movement towards greater collaboration between vehicle manufacturers with a view to reducing the cost of EV development and production. Electric cars are cheaper to own over their whole lifetime according to new research. That’s a saving of well At the moment, the amount of petrol vehicles available massively outweigh the pure electric options – meaning you have much more choice and you are more likely to select the car that suits your style of driving in petrol form than electric. attractive option – brake systems tend to last longer than on conventional Mike Rutherford thinks now is the perfect time to re-evaluate your modes of transport, More than half of UK children want their parents to make the switch to an electrified car, Global Action Plan and FIA Foundation claim 59 per cent of two-car families could run an electric car without any hindrance, Editor-in-chief Steve Fowler thinks a fully-electric driving experience will surprise some car enthusiasts. Supermarket actually cost you add to this that electric cars is right cost of running electric car vs petrol uk?. Break even 37,625 miles days to break even 37,625 miles days to break even 37,625 miles days to even. 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