How much does it cost to run an electric car?

What is the cost to run an electric car compared to petrol?

At a time of rising prices and drivers feeling the pinch across every aspect of motoring on top of other costs of living, the benefits of driving an electric car are more important than ever.

The cost to run an electric car is lower than their petrol or diesel equivalents, and even though petrol process have come down in the last few months, while electricity prices have risen, there is still a substantial advantage to driving electric.

Electric vs. Petrol Costs

Tusker researched this calculation using comparable combustion and electric cars, to see what the average driver might save.

Two very similar vehicles are the 58kWh Volkswagen ID.3 and a petrol Volkswagen Golf equipped with a 130ps 1.5-litre petrol engine. If the ID.3 is charged at home via a 7kW home charger at 34p/kWh, and the Golf is fuelled at the current average fuel cost of 149p per litre and both are driven for 10,000 miles per year, the electric ID.3 would be 7.2p per mile cheaper to run, which adds up to a saving of over £720 or around £60 a month.

Volkswagen ID.3

Driving electric with Tusker in partnership with CPC Drive

Above and beyond the running costs, there are several other major benefits to running an EV with Tusker. Unlike buying a car outright, or via a personal finance agreement, with Tusker’s salary sacrifice car benefits schemes, there is no deposit to pay, meaning that you can keep more of of your cash in your pocket.

The monthly amount of the salary sacrifice scheme is taken directly from employees’ salary, and this cost is fixed, which means that monthly budgeting is easy. As this monthly cost is inclusive of tax, insurance, servicing, MOTs and even breakdown cover, unexpected costs aren’t an issue.

In addition to these savings, as salary sacrifice schemes take the payment directly from an employee’s salary before tax and National Insurance are deducted, the driver will save money on both. EV drivers will also take advantage of low Benefit in Kind tax rates on these zero vehicles, which pay just 2% BiK so will retain almost all of their savings.

If you are feeling the pinch, and looking for ways to maximise the savings available, while at the same time enjoying a brand new, and environmentally friendly vehicle, then have a look at the wide range of cars available through Tusker, and see how much you could save.