Fuel prices: Just how much money could you save by switching to an electric car?

GB News guests debate using electric cars

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

An unprecedented rise in fuel costs has had a huge impact on the nation’s driving habits, with some car owners ditching their vehicles completely and some half a million deciding to buy an EV instead. But how much do you actually save by going electric?

With the Government bringing in a ban on all sales of new petrol and diesel cars in 2030, and hybrid models five years later, time is running out for fossil fuels.

Filling the tank of a 47-litre family hatchback with petrol now costs about £85, or £88 for diesel.

Despite recent energy price increases, charging at home to deliver the equivalent mileage typically costs less than half of that – about £41, reported the BBC.

But drivers typically do a mix of 70 percent charging at home and 30 percent at public chargers, according to the Energy Saving Trust.

Public charging costs vary but this hybrid approach could cost about £48, still significantly cheaper than conventional fuel.

The price difference between electric cars and traditional vehicles is narrowing, and is expected to largely disappear over the next few years.

However, at the moment a typical new electric car remains more expensive than an equivalent petrol or diesel model – ranging from £23,000 to £43,000.

Cheaper second-hand EVs are becoming more common and some even depreciate by half over the first three years.

The BBC found a number of used five-seater electric hatchbacks for between £8,000 and £21,000.

Man slapped with parking ticket at his wedding [SHOCKING]
Warning to drivers: Police coming down ‘hard’ on license offence [WARNING]
Electric car grant cut was ‘inevitable’ with new calls for loan scheme [INSIGHT]

Due to their having less parts to go wrong, EVs typically require less ongoing maintenance than petrol or diesel cars, but EVs do need to have annual MOTs after three years.

Initial costs will be affected by the Government’s axing of the home charger grant and the plug-in car grant, which handed owners up to £1,000 and £1,500 respectively.

On average, the five best-selling EVs in the UK can travel more than 200 miles on a full charge.

This is the same as travelling from Bristol to Leeds, or London to Swansea.

However, batteries deteriorate with use, which reduces their performance – typically by about nine percent over the battery’s lifetime.

Manufacturers like Nissan and Tesla guarantee their batteries for up to eight years or 100,000 miles.

Drivers also need a dedicated home charging unit, costing between £550 and £1,100.

A normal three-pin plug socket will work in an emergency but will be much slower.

Source: Read Full Article