What if saving money by driving an electric car were one of the best-kept secrets? Not for much longer! Once you factor in the purchase price and running costs, an electric vehicle could turn out to be cheaper, especially for those who do a lot of driving. Let us walk you through it.
The running costs of an electric vehicle include the energy needed to drive it, maintenance, insurance, and also the cost of parking and tolls. On that score, electric vehicles come out on top and allow you to make real savings compared to diesel or gas vehicles.
Let’s start with energy: electric vehicles use energy (electricity) that’s far cheaper overall than the energy used by combustion engine cars (gas or diesel). So forget paying high prices at the pump — an electric car uses between 12 and 20 kWh to cover 100 km, which works out to 2 euros on average. By programming overnight charging, during off-peak hours you get even cheaper electricity that’s often less carbon-heavy.
Electric cars are also a winner when it comes to parking and tolls! Many cities such as London offer free public parking for electric vehicles. In some countries, like Romania, they are exempt from annual vehicle tax. In Norway they even go toll-free!
In terms of maintenance too, an electric vehicle allows you to save a lot of money. No timing belt, no filters, no exhaust pipe, no spark plugs, no clutch — the electric powertrain contains fewer parts that need to be maintained or replaced. Plus, the hardware is treated gently on account of the more relexed driving style that comes with an electric vehicle.
Although the purchase price of an electric vehicle seems higher than that of its combustion-engine counterpart, it’s often worth taking a closer look as the gap can close significantly thanks to numerous financial incentives. Environmental bonus, tax credit, sales tax deduction or exemption from registration fees and vehicle tax — you can save a considerable amount of money this way.
In parallel, the upswing on the electric vehicle market boosts the used car market . This makes for easier resale and a broader choice of used vehicles, another way of lowering the purchase price of an electric vehicle whenever you’re ready to take the plunge.
Don’t say we didn’t tell you!