Is It Cheaper to Run an EV?

Electric Vehicles (EVs) are becoming more popular in the UK, but many drivers still wonder: is it really cheaper to run one compared to a petrol or diesel car? Let’s break it down.

1. Fuel vs Charging Costs

• Petrol and diesel prices remain high, and filling up can easily cost £70–£100.

• Charging an EV at home is generally much cheaper — often under £20 for a full charge, depending on your electricity tariff.

• Public fast chargers can be more expensive, but still usually work out cheaper than fuel over time.

 2. Maintenance Savings

EVs have fewer moving parts than traditional engines. That means:

• No oil changes

• No exhaust system repairs

• Less brake wear (thanks to regenerative braking)
  This often translates into lower servicing and repair bills.

 3. Tax & Incentives

• EVs are currently exempt from road tax (until 2025).

• Benefit-in-kind tax is much lower for company car drivers.

• Some councils even offer free or reduced parking for EVs.

 4. Other Factors

• Insurance can sometimes be slightly higher, due to specialist parts and repairs.

• Initial purchase price is often more than petrol/diesel equivalents, although used EV prices are falling.

• Resale values are improving as demand increases.

 The Bottom Line

Yes — in most cases, EVs are cheaper to run day-to-day thanks to lower fuel and maintenance costs, plus tax savings. However, the upfront purchase price and charging access are things to consider.

If you’re thinking about making the switch, it’s worth comparing your annual mileage, charging options, and budget to see if an EV is the right choice for you.

RW Cars Derby, we stock a range of vehicles to suit every lifestyle — whether you’re ready to go electric or prefer traditional engines, we’ll help you find the right car at the right price.