How Driving An Electric Vehicle Can Save You Money

driving an electric vehicle

Numerous scientific reports show how driving an electric vehicle can save you money. And by using software tools, scholars, researchers and auto experts have proven that EVs are fuel-efficient. A report from Consumer Reports shows that electric vehicles fuel saving can amount to £4060.39 for the first seven years. 

Even though the costs of acquiring EVs are higher than the traditional gasoline cars, their benefits are more. Most of the people driving EVs today focused on long term fuel-saving instead of acquisition costs. With most states now offering incentives and plug-in-car grants to buyers, you can save money from both ends. 

Most of the renowned car dealer’s websites are today characterized by car reviews and videos. This has really made it too easy for buyers to evaluate which car can save lots of money. 

Electric costs just like fuel costs may vary from one region to another. Driving experiences also differ amongst drivers and driving distances are equally different. But despite all these differences, an electric vehicle will ultimately leave everyone smiling. 

4 Ways On How Driving An Electric Vehicle Can Save You Money

There are too many benefits attributed to driving an electric vehicle. Imagine charging your EV at the nearby tall building or leaving it to charge overnight in your residential building. Charging an electric vehicle is more of a DIY exercise as opposed to fueling petrol or diesel at a fueling station. 

Besides the above-highlighted benefits, how can electric cars save you money?

Low electric cost 

As we look at the cost of charging electric vehicles, electric car charging infrastructure has to be factored in. Other than saving money due to the low electric consumption rate per kilometer, the cost of electricity per kilowatt is also low. 

In an illustrative scenario by Mobilityhouse.com, Hyundai IONIQ an electric car uses 14.7 kWh per 100 km, and electricity per hour costs £0.26 per kilowatt. After a mileage of 15,000 kilometers, this car is estimated to consume electric energy amounting to £571.91.

Hyundai i30 was estimated to consume 5.2L/km of petrol with the cost of petrol averaging £1.30 (Germany). After driving i30 for 15,000 kilometers, the owner had to spend £1010.78. This is how driving an electric vehicle can save you money in the long run.

Electric vehicle incentives

The UK have been offering financial incentives for electric cars to promote their uptake. Drivers can save up to £2,500 off the purchase of an EV up to the value of £35,000.

Maintenance and repair costs

If you drive an electric vehicle expect to spend less money on maintenance. The lifespan of a battery on traditional cars ranges from five to eight years. Before you replace the electric car battery once, those driving the traditional gasoline car will probably replace it three times.  

Depreciation costs 

Not many people calculate the depreciation rate of their cars. After reselling your electric vehicle, you’ll understand how driving an electric can save you money. The likelihood of fetching a good resell price is higher in EVs.

CONTACT THE EVISION TEAM TODAY

Do you want to experience driving an electric vehicle? Hire from EVision and choose from a range of pure electric vehicles. 

Hires can be booked directly on our website, or should you require further information, give our team a call on: 01634 914063. If you have any additional questions, our experienced team would be happy to help!