How much does it cost to operate an electric car?

What are operating costs?

"Running Costs" describes how much it will cost you to keep your vehicle on the road. With your electric car, this includes everything from charging to maintenance and insurance. You can also factor in the monthly financial costs of the car and the amount that the car may depreciate by when you eventually decide to sell it.

How much does an electric car cost to operate compared to a petrol car?

The cost per kilometer of an electric car can be much lower than that of a gasoline car. Electric motors are much simpler than gasoline engines, which means you can benefit from lower maintenance costs. Charging a battery can be cheaper than filling up with gas, and electric vehicles are largely exempt from taxes and clean air zone fees. Some councils even offer free parking permits for electric vehicles, which can save you hundreds of pounds if you park on the street. If you combine these savings, the amount of money you will pay for the day-to-day operation of an electric vehicle is likely to be significantly less than for a gasoline or diesel vehicle.

Electric cars tend to be more expensive to manufacture and therefore buy than their petrol or diesel equivalents, and if you're buying with cash it can add to your monthly costs. However, since the demand for electric vehicles is constantly on the rise, if you buy your electric vehicle outright, you may find that it costs more than the petrol or diesel equivalent when you sell it.

How much does it cost to charge an electric vehicle?

The cost of charging your electric vehicle battery depends on the type of charger you use. Home charging via wall device such as Lightweight Electric Vehicle Chargeris likely to be the cheapest method, especially if you are using home electricity tariffs that give you the best off-peak electricity price. Charge your depleted battery overnight and you can pay as little as £5 to get a fully charged electric car in the morning.

From 2022, new homes and buildings in the UK are required by law to install EV charging points, which will increase the number of chargers and make affordable and convenient charging easier for more people.

More and more jobs are offering free chargers, as are big supermarkets and even hospitals. The cost of public chargers on the street varies and depends on the electricity supplier. They can be significantly more expensive than home charging, but most providers will let you subscribe to keep the cost down. Some companies will also give you free parking while you charge.

Fast charging is usually the most expensive way to recharge your electric vehicle, but as the name suggests, it is very fast. Most electric vehicles can be charged to 80% battery capacity in less than an hour, sometimes as little as 20 minutes. Again, the cost is set by the supplier, but some car manufacturers, such as Tesla, offer free fast charging to their customers using the company's own Supercharger network.

Do I have to pay tax for an electric car?

One of the many benefits of driving an electric vehicle is the financial benefit that comes with a number of perks. Owning an electric car means that you do not pay excise tax on the vehicle (car tax) or tax on fuel. Electric vehicles are not only eligible for tax breaks, but are also exempt from congestion zone fees and low emission zone fee.

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How much does it cost to service my electric car?

The costs you will pay to operate an electric vehicle will include cleaning, repairs, emergency coverage, maintenance, and tire changes. While the exact costs will vary by model, electric vehicles can be significantly more affordable to maintain than their petrol or diesel equivalents. They have fewer moving mechanical parts, mainly because they don't have a motor. This means that not many individual elements need to be repaired and they do not need oil, which means that no oil change is required. But you will still need to check things like brake fluid and coolant just like you would with a non-electric car. 

All cars must pass inspection when they turn three years old, and electric vehicles are no exception. The process is the same as for petrol or diesel vehicles, except there are no emissions or noise tests. How much MOT costs depends on the garage or dealership you use, but by law you shouldn't be charged more than £54.85. Many workshops charge less.

How much does it cost to insure an electric car?

How much you will pay for your electric vehicle insurance depends on your insurance company. Most plans cover, at a minimum, battery, damage, fire, and theft issues, as well as charger and cable issues, and accident liability costs. Accident coverage is also included by some insurance companies.

Many firms will also provide over-the-air (OTA) upgrades for your electric vehicle. Just as your smartphone or computer updates itself while you sleep, some electric car manufacturers send the latest software updates to your car wirelessly. Sometimes they can increase power and performance, or change aspects of the car altogether, which can invalidate regular insurance policies.

You should ensure that over-the-air software updates are included in your insurance package to ensure that any changes do not void your insurance. 

As more firms offer specialist coverage for electric vehicles, premium prices are likely to come down. Although the cost has been falling every year, electric vehicle insurance is still slightly more expensive than petrol or diesel vehicles.

Make sure you don't auto-renew your insurance because you may well find a less expensive option if you shop before your current policy expires.

There are many electric cars for sale at Cazoo and now you can get a new or used electric car with a Cazoo subscription. For a fixed monthly payment,Kazu's subscription includes car, insurance, maintenance, service and tax. All you have to do is add electricity.

We are constantly updating and expanding our range. If you're looking to buy a used car and can't find what you need within your budget today, check back later to see what's available or set up promotional alerts to be the first to know when we have vehicles that suit your needs.