EV’s are more expensive to buy, but they are cheaper to maintain. So, how much does really cost to drive green?
With all sales of new petrol and diesel cars slowly being banned, our driving future is definitely electric. Although the environmental benefits of emission-free driving are obvious, financial advantages can also be achieved. While EV’s can be more expensive than regular vehicles to purchase, they are much cheaper to operate and maintain. For example, you can pay less for charging, maintenance, and taxes. Read on to find out how much does it cost to drive an electric vehicle and how much could you save.
COSTS OF CHARGING
Recharging is the main expense for the electric vehicles. Just like conventional cars needs refueling with petrol or diesel, electric vehicles needs recharging with electricity on a daily basis. There are several things that can affect the price of charging an electric car. Such as whether you are charging at home or in public, and how strong is your electricity.
There is an upfront cost for at-home charging, as you will need to pay around 900 €. However, the government subsidy for the purchase of an electric car can compensate for some of this. Which ensures that you pay less.
Charging at public units can be more expensive on an hourly basis. But this is usually because they have a much higher voltage and can charge quicker. Prices can range from 1.70 € per hour charge to around 6 € per 30 minutes using a rapid charger. Which would give you enough power to drive more than 100 km.
With state subsidies for electric vehicles, you may be able to save money on car taxes every year. Many European countries offer complete or temporary tax exemptions or lower tax rates for EV car owners.
Electric cars require less maintenance than internal combustion engine cars. A fully electric car has about 20 moving parts. It does not need oil or grease, and it hardly ever needs servicing. Comparing with regular cars with around 2,000 moving parts, all of which require oil and regular service.
Electric cars use sophisticated technology that is not as regular to petrol or diesel cars. This makes them expensive to repair, so you will tend to find their insurance more expensive. But experts predict that prices will drop more and more as they become commonplace.
Electric vehicles are retaining their value a lot better comparing to regular petrol or diesel cars. But, considering the government’s ban on petrol and diesel vehicles in many countries, it is expected that EVs will begin to lose their value at a faster rate than before.
Electric cars tend to be more expensive to buy than their conventional counterparts. In many cases the total cost of ownership is actually lower. For an electric vehicle you pay more upfront and have an additional cost for an at-home charging unit. There are also certain prices that remain the same whether you are driving petrol or diesel car or an electric car. For example, insurance. But electric vehicles have exemption for road taxes since they do not emit no CO2 at all. Besides the financial aspect, EVs are attractive because they are better for the environment.