Will I save money with an electric car?

two cars charging but is it worth it

5 ways to save money by going electric

Everyone is looking to reduce their costs and outgoings with the cost of living crisis, and for many of us, motoring is a substantial part of our monthly outgoings. Whether it is the car payments on our car finance, or fuel costs for filling up the tank on a petrol or diesel car, it is easy to rack up hundreds of pounds a month on transport costs. While walking or biking may help to reduce your bills (and waistline!) it is not always practical. However, changing your petrol or diesel car to an electric car is an achievable and easy way to save money. But how will changing from a petrol or diesel car to an electric car save you money? Read on to find out more.

Cheaper fuel costs

We have all watched the price of fuel rise dramatically, indeed at the peak of the petrol prices filling a normal 55 litre family car reached the £100 mark. Charging your electric vehicle on a home charger on an average electric contract costs around the £17 mark, which will give you around 200 miles of driving range. Even with the rising price of domestic electricity costs this still represents significant fuel savings. Charging your electric car at public charging points will be more expensive but it is still cheaper to charge an electric car than fill a tank of fuel. Just think of how much more petrol costs from a motorway service station than a supermarket forecourt, the same rule of thumb applies to charging an electric car.

Cheaper servicing costs

Electric vehicles have fewer moving parts than their petrol or diesel counterparts, this means less time in the garage, less maintenance, and lower running costs. Electric vehicles are surprisingly simple compared to the combustion engine, and new technology such as regenerative braking reduces the wear and tear on brakes, saving money on running costs. Reports show that maintenance costs for electric vehicles are around 30% cheaper than for traditional petrol and diesel cars.

Cheaper road tax

So, not only are you saving money on your electric car on fuel costs and servicing costs, but also on your road tax and clean air zone charges such as London’s congestion charge. Fully electric cars currently pay zero Vehicle Excise Duty, otherwise known as road tax, though this is expected to change in the future. However, even if road tax is chargeable on electric vehicles it will still be significantly less than road tax on petrol or diesel vehicles. Electric vehicles are exempt from London’s congestion charge, which makes an electric car a great choice for anyone living in our capital. More and more cities are introducing clean air zones to improve air quality as well as encourage people to make more environmentally friendly choices. Electric cars are zero-rated for clean air zones, so if you live in a city with these zones, an electric vehicle is a good option.

Electric cars are becoming more affordable

The purchase price of electric cars used to be a hurdle for many people. However, more and more electric vehicles are being produced by a range of car manufacturers. Businesses, in particular, are choosing electric cars for their company cars or fleet vehicles, this in turn is improving the second-hand electric vehicle market, by ensuring that there are a good range of electric vehicles available.

Electric cars hold their value

Conversely, just as electric vehicles are becoming more affordable, they are also holding their price. Petrol or diesel vehicles depreciate so quickly that from the moment you sign on the dotted line, you are effectively losing money. Electric vehicles on the other hand retain their value over time, so although your initial investment may be larger, you will lose less money.

Four great affordable electric vehicles

So, now you know all the ways that buying an electric car will save you money, the question is – which one? There are many electric vehicles available on the market today which means that the electric car cost has fallen. Tesla is still the market leader, but a Tesla does come with a hefty price tag, which is out of reach of the average electric car owner. If you want an affordable electric vehicle you can’t go far wrong with a Renault Zoe, or a Nissan Leaf. Either of these is a good choice both as a new electric car or as a second-hand electric car. Second-hand electric cars are popular, just make sure you check the health of the electric car battery. If you are looking for a new electric vehicle then take a look at the MG ZS EV, which gives an affordable family SUV with lots of space and a great ride. If you like BMWs, then the BMW i3 is an excellent city electric car, with its distinctive design and styling.

Why sell your car to Sell Your Car 2 Jack?

But before you can buy your money-saving electric car, you need to sell your old petrol or diesel, and that’s where we come in. Selling diesel or petrol cars can be tedious and time-consuming. You may consider selling your petrol car privately, but this can be difficult. Some main dealers may offer you a part exchange against your new electric vehicle but the figure offered may be low. We will buy your petrol or diesel vehicle for a fair market price, with a quick appointment, an instant decision, and cash in your pocket, the whole process is simple and quick. This cash can then be used towards the upfront cost of your new electric vehicle. Cash in the hand puts you in a good buying position for negotiating a good price for your electric car.

Sell your car today

Take the hassle out of selling your old car with the team at Sell Your Car 2 Jack. But don’t just take our word for it, read what other customers say about selling their cars to us on Trust Pilot and our reviews page. Save money today by making the switch to owning an electric car, simply call us on 0121 296 3829