Do you Save Money Driving an Electric Vehicle?

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EVs offer considerable savings on running costs compared to a traditional ICE car. The pence per mile cost of recharging an EV is significantly less than the cost pence per mile to refuel an ICE car. The Energy Saving Trust estimate a full charge in an EV giving you a typical range of 100 miles costs around £4-6 using a home charging point, £8-£10 using a public charging station or £13-£16 in an ICE equivalent model.

On top of that, the service and repairs costs of EVs are around 30 per cent cheaper. Plus there are less moving parts on EVs, so fewer parts to replace or repair over time.

However, when buying a new car, the cost of an EV is still currently greater than an ICE model. Even with the Government grant in place, you may find a petrol or diesel car cheaper than its EV equivalent. But, over the lifetime of owning a car, most EVs still work out more economical.

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