Are electric cars cost effective UK?
In summary, yes, you can save money on motoring if you drive an EV. Potentially cheaper to ‘fuel’ and tax, as well as to insure – if not to buy initially – electric vehicles can also save you cash when driving into some UK cities.
What’s the downside of an electric car?
These disadvantages include finding charging stations, charging times, higher initial costs, limited driving range, and battery packs can be expensive to replace.
How much money can you save by having an electric car?
According to a study from the U.S. Department of Energy’s National Renewable Energy Laboratory and the Idaho National Laboratory, electric car owners can save as much as $14,500 on fuel costs by owning an electric car for 15 years. That’s almost $1000 in savings for every year of driving.