The annual running cost of an electric vehicle is now £579 cheaper on average than a petrol-fuelled car, according to the latest research from comparethemarket.com. This saving in cost has increased from 2021 when EVs were just over £400 cheaper to run. The research, which analyses the price of insurance, fuel, and road taxes, shows that the average annual … [Read more...]
EVs beyond reach for 1-in-5 motorists
Almost 20% of the UK cannot afford even the cheapest electric vehicle through finance. The study by car insurance experts CarInsurance.ae used ONS survey data to compare the average monthly income in each area with the estimated cost per month of financing a new electric car. The study based the figures on the 20/4/10 rule for financing a car, which … [Read more...]
Motorists reconsidering ev options for new cars
The latest survey of 300 UK motorists by Venson Automotive Solutions revealed that the anticipated 54% rise in electricity and gas bills next month is impacting car buyers’ decisions on switching to electric vehicles. Although electrified vehicles accounted for more than a third of all new cars leaving dealerships in February, Venson’s survey showed that a … [Read more...]
EVs depreciate less than petrol or diesel cars
A leasing company has analysed a popular online car marketplace and compared the prices of the UK’s most popular used cars against the number of miles the car had done to uncover the average depreciation cost per mile our cars drive. The average price an petrol or diesel car depreciates is 67ppm or by £4,669.90 a year compared with an evs cost of 55ppm and … [Read more...]
Expensive EVs deter Brits buying them
Britons are being put off choosing electric cars because they a simply too expensive, a survey shows. Select Car Leasing took the average price of a standard Renault Zoe EV in Europe and how much it was a percentage of the average salary with some surprising results. In Britain it was equivalent to 84% of salary and put the country in 13thplace in the … [Read more...]
Parents paying more to keep youngsters on the road
Nearly two thirds of (63%) drivers between the ages of 17-24 say they have relied on financial support from their parents to cover the cost of running a car in the last 12 months – receiving up to £750 a year – according to comparethemarket.com. The Tank of Mum and Dad Report highlights just how reliant young drivers are on their parents to help them pay … [Read more...]
Electric cars surprise running costs
Electric cars travel up to three times the distance of their petrol or diesel rivals for the same amount of money, according to research. With interest in electric cars rising, many potential buyers are left confused by the way running costs are explained, with ‘miles per kWh’ difficult to compare to ‘miles per gallon’. To help consumers, car reviews and … [Read more...]
Cost conscious drivers have a new tool to use
Cost-conscious motorists are set to benefit from a new online tool that reveals the total cost of ownership (TCO) of cars. TCO Check created by automotive data and valuations expert HPI is a new online calculator which allows drivers to take costs into account and tells them how much they can expect to spend over the next three years of ownership. The … [Read more...]
Green motoring gets red card from drivers
Almost three quarters (71%) of UK motorists say affordability is a main consideration when purchasing a new vehicle, according to the Britain Under the Bonnet report from Close Brothers Motor Finance. A further 56% care about how economical a vehicle is to run, showing additional interest in cost. Other key attributes include fuel type (55%), engine size … [Read more...]
Electric vans now matching diesels’ cost, say analysts
The costs of emissions-free, electric vans are now as low as their diesel competitors. That’s according to a new study by consultancy CE Delft that focuses on the small van segment largely used in cities and which accounts for 40% of total van sales in the EU. The study takes into account purchase price, taxes, fuel bills and maintenance costs over … [Read more...]
