5 EVs that could be cheaper than petrol car
Electric vehicles (EVs) are often seen as being more expensive than petrol cars, but if the fuel saving costs are taken into account and the upfront purchase price is spread across monthly leasing payments, then a new EV could cost the equivalent of less than £200 per month. That’s according to electric vehicle leasing company DriveElectric.
Maintenance costs of EVs are also lower than those of petrol cars, and, for company car drivers, EVs have zero Benefit in Kind tax for 2020/21.
Says Mike Potter, Managing Director of DriveElectric:
“There’s much talk about EVs reaching price parity with petrol cars over the coming years, but zero emission electric cars can be more affordable than people think today. Fuel costs of EVs are around 20% of the fuel costs of petrol cars, and spreading the cost of the initial purchase price over monthly leasing payments means that EVs are now typically cheaper than petrol cars from a whole-life cost point of view. This could enable large numbers of motorists to make the switch to EVs to help improve local air quality and achieve Net Zero.
As indicated by a new study from Ireland car insurance provider The AA, EVs are currently less expensive to possess over their entire lifetime. They can cost an average of approximately £107 annually less than gasoline vehicles.
“The driving ranges of the latest EVs are sufficient for many people’s regular driving patterns, and for those such as business users who regularly need to cover lots of motorway miles, there’s an ever-increasing variety of vehicle options available with electric driving ranges over 300 miles.”
According to Drive Electric, the following five electric cars are examples of vehicles that motorists can drive today which will save you money.
Smart EQ ForFour 17 kWh Passion Advanced 5dr Auto
Electric driving range (official WLTP combined): 81 miles
Estimated real-world electric driving range: 55 miles
Monthly lease cost: £176.88
Estimated fuel savings per month: £85
Cost per month after fuel savings deducted: £91.88
Skoda CITIGOe IV SE 37 kWh 5dr Auto
Electric driving range (official WLTP combined): 170 miles
Estimated real-world electric driving range: 130 miles
Monthly lease cost: £231.55
Estimated fuel savings per month: £85
Cost per month after fuel savings deducted: £146.55
Renault ZOE GT Line 50 kWh 5dr Auto
Electric driving range (official WLTP combined): 245 miles
Estimated real-world electric driving range: 195 miles
Monthly lease cost: £279.59
Estimated fuel savings per month: £85
Cost per month after fuel savings deducted: £194.59
Volkswagen e-Golf 35 kWh 5dr Auto
Electric driving range (official WLTP combined): 144 miles
Estimated real-world electric driving range: 125 miles
Monthly lease cost: £331.32
Estimated fuel savings per month: £100
Cost per month after fuel savings deducted: £231.32
Peugeot E-2008 50 kWh Active 5dr Auto
Electric driving range (official WLTP combined): 206 miles
Estimated real-world electric driving range: 170 miles
Monthly lease cost: £338.30
Estimated fuel savings per month: £120
Cost per month after fuel savings deducted: £218.30
