An electric car is usually cheaper to run than a petrol or diesel car, mainly because electricity costs less per mile than fuel, and most of that advantage comes from charging at home. Public rapid charging can cost far more per kWh than a home tariff, and if most of your charging is on the public network, the saving can shrink a lot.
To compare fairly, work out your cost per mile both ways. For petrol, divide the price per litre by your miles per litre. For an EV, divide your electricity price per kWh by your miles per kWh. Then factor in the other running costs: an EV typically has lower servicing costs and, depending on the car and when it was registered, different road tax rules, but insurance and depreciation can go either way.
The upfront cost of a home charger counts against the savings, so it's worth knowing how long it takes to pay back. The answer depends on your mileage, your tariff and the price of the installation, which is why a generic figure isn't much use for your own situation.
Our free EV Money Calculator lets you plug in your own mileage and prices. If the numbers stack up, get a free quote and we'll help match you with a suitable local installer.
Ready to get started? Get a free quote, or browse popular EV chargers and how installation works for more background. Not sure an EV will save you money? Try our free EV Money Calculator.