How Much Does An Electric Car Cost? (A Buyer’s Guide)
The general consensus is that EVs are too expensive for their own good. This is true to an extent, depending on the vehicles you’re looking at and the dealers you’re approaching. Today we’ll be looking at costs in full as we get to the bottom of how much does an electric car cost?
For UK residents, buying an electric car will soon be a requirement, not a suggestion. UK drivers have a few years to wait, still, but getting ahead of the curve now is never a bad thing.
Here we’ll be looking at how much it costs to buy an electric car, not to mention car chargers and replacement batteries; everything you need to know.
Consider it an essential guide to any avid motor-head looking to make an electric turn.
Now, let’s get into it.
The Cost Of Buying An Electric Car
As you can expect, there isn’t one blanket answer that covers every car under one price. Like standard cars, prices go up and down depending on the brand, spec and manufacturing costs behind each ride.
What is the cheapest electric car you can buy? That would be the Renault Twizy (£11,995). This electric car is one of the smallest cars to ever exist. It might be cheap, but whether or not it’s beneficial to certain buyers is another question entirely.
Renault claims it costs just £1 to charge, allowing drivers to travel 62 miles before needing some juice.
If you’re looking for other cheap electric cars out there, check out the following:
- SEAT Mii Electric (£20,300)
- VW e-UP! (£20,695)
- MG 5 EV (£24,495)
- MINI Electric (£25,000)
Most of the vehicles mentioned above will appeal to buyers a lot more due to their functionality compared to the cheapest electric car (sorry, Twizy).
Luxury sports-car brands, such as Lotus and Rolls Royce, have already teased what we can expect from a high-end point of view. However, they’ll cost a lot more than, say, a Nissan Leaf, with some selling for over £2 million.
Right now, your options are limited when it comes to speedy EVs. Expect that to change as electric cars begin to shadow standard petrol/diesel types.
In fact, we have a complete guide on second hand/used electric cars, if you’re interested?
Which is the Best Electric Car to Buy?
In our opinion, you want an all-rounder. You know, a car that hits an average of 200 miles and has many practical uses.
Some electric cars work better in urban areas, others out in the countryside. No matter which electric car you choose, know that the performance is there; it’s guaranteed.
The best value for money electric car at the moment is the Nissan Leaf. Why the Leaf? Well, it’s not only the gateway car to other EVs; it’s also one of the most popular electric cars in the world, and with good reason.
With the Nissan Leaf E+, you can get up to 239 miles from each charge, not to mention it can charge from 20% to 80% in around 90 minutes!
You’ll need to pay a little extra for E+ versions, but we think it’s a worthy choice.
It’s a compact electric car with tremendous upside; it can carry family members, groceries/shopping and everything in between.
Moreover, it’s one of the cheapest electric cars you can find on the second-hand market. How much does a Nissan Leaf cost used? Prices range from £5,750 to £33,070, depending on the site/version you choose.
How much does an electric car cost? The question tends to be interchangeable with the word Tesla in there. Teslas are some of the best electric cars you can buy, but there are better options out there for beginners, as proven by the Leaf.
Electric Car Grants to Help With the Cost
Found an electric car you like the look of but not sure you can afford it at its current price?
In the UK, you have access to vehicle grants that can award £2,500 for your troubles to help with purchasing the ride. This only applies to EVs under £35,000, which tends to be the average cost for a worthwhile electric ride.
Moreover, the cars you’re looking at must meet certain requirements based on emissions and pure-electric range. This means some hybrids are applicable; it’s best you check beforehand before making a decision.
The grant applies to new and used electric cars, thus giving you plenty of options when it comes to vehicles. Again, you can find some of the best electric cars on these types of sites.
There’s a plug-in grant for vans, too, that can see a maximum of £6,000 taken off of the price.
How much does an electric car cost? Not as much if you take advantage of the right grant.
Furthermore, the UK has the Electric Vehicle Homecharge Scheme that helps cut the costs of home charger installations. That’s right, the UK Gov is giving £350 to those looking to install car chargers at home.
More on the cost of electric car charging units later.
Electric Car Running Costs
Maintaining an electric car is easy when you realise there are minimal running costs to contend with. Think about it; you’re paying less for it to run.
How much does an electric car cost fuel/charging-wise? On average, you’ll pay around £17.71 to drive 379 miles, which is a hell of a lot cheaper than standard petrol cars over a similar distance.
Petrol will be one of the major considerations for many potential buyers. Still, there are other ways you can save money by owning an electric car.
For example, you don’t pay any congestion charges in certain areas for owning certain vehicles. Moreover, you pay zero road tax for owning an electric car as long as its value is under £40,000.
That means you could drive/own the Tesla Model 3 and not have to worry about paying a thing tax-wise.
Some electric vehicles might be expensive to pay for, but low running costs make them a worthy investment in the long run.
How Much Does An Electric Car Charger Cost?
Home chargers are a little different and probably not what you might expect from a post titled: how much does an electric car cost? But we’re covering all bases regardless.
Charging at home is an excellent opportunity to beat the rush, so to speak.
Not only are you staying ahead in terms of trends, but you’re also beating the impending queues that will only come when more EVs hit the streets.
So, how much do they cost?
Most electric home chargers cost around £1,100, depending on the unit you’re looking at. Ensure that you understand the difference between Type 1 and Type 2 chargers before making a final decision.
Type 1 chargers are the more expensive of the two generally. You see, these units need to be installed by a professional most of the time. They’re considered fast chargers, meaning they’ll top your car up faster than a Type 2, which is very slow in comparison.
Again, as mentioned, you can reap the rewards of a government grant to cover most of the costs for these chargers.
We have a full guide on setting up a charging station at home right here if you’d like to know more. This guide covers everything you need to know about installation grants too.
Like buying an electric car, you benefit significantly from installing a unit at home in the long term. The cost per charge at home is a lot cheaper in comparison. Public charging hubs tend to charge 18p per kWh, whereas home units only cost around 14p per kWh.
And you can leave it to charge overnight and have it ready to go.
How Much Does a Replacement Electric Car Battery Cost?
Arguably, the most important part of any electric car is the battery within. So, it should come as no surprise that it’s the most expensive part to replace.
Batteries are built to last and commonly come with an 8-year warranty, or x amount of miles. Your warranty should cover you. However, there will be some occasions where the warranty doesn’t cover it.
The cost to replace it depends on the battery required and other labour costs. Older models tend to rely on older batteries which can make them difficult to find and replace.
Some batteries cost thousands to replace. We wish we could give you an accurate number, but there are too many variables to say.
This is why certain companies like Renault give you the option to lease the batteries instead. You’ll pay a monthly fee between £60 to £100, but at least you can guarantee your vehicle is covered should anything go wrong.
Who Should Buy An EV?
Anyone can theoretically buy an electric car. Whether they do or don’t should be based on personal preferences.
As said, there are electric cars that cater to your every need — exactly like standard vehicles.
If you’re in the market for a new car or simply want a second ride to take you in and out of the city, then you could buy an electric now rather than simply waiting.
Yes, we’ve said that waiting could be a better option in the past as electric battery tech is still growing, yet people still buy them anyway. Why? Because they’re a window into the modern vehicle world, and they’re hella powerful. Not to mention are eco-friendly.
You can be a business-orientated person, a stay at home parent, or an avid traveller; it doesn’t matter because there are electric rides for everyone. All you need to do is find the right one that fits your lifestyle.
Consideration This Before You Buy
How much does an electric car cost? This question obviously matters, but it’s pointless if you aren’t choosing a ride that caters to your own requirements.
Yes, you can pay a crazy sum to buy the most lavish electric vehicle out right now — and if you can afford something like a Roadster, then go for it. But remember, it needs to serve a real-world purpose.
You can buy an electric car purely based on looks, but the real benefits arrive in its performance. The instant torque of these vehicles make them a joy to drive; it might not feel like you’re doing a lot given the lack of noise generated, but you’ll get used to it.
Electric cars aren’t just fancy toys; they’re a part of the family.
So, how do you know what to look for? When looking at electric cars, you should consider the following:
- Range per charge
- How it charges
- Space inside (especially the boot)
Working out how far you’d normally travel to get places is easily the best way to decipher which EVs are for you.
How it charges is another important question, as some electric cars are self-charging hybrids. In other words, it doesn’t require a manual plug-in as it generates energy as you drive. This will be a convenient option for many buyers reading this.
Electric SUVs are incredibly popular, turning any large task into a simple breeze. How much does an electric SUV cost? The Audi e-Tron — one of the more popular electric SUV options cost around £70,000 and above, but they are 100% worth it.
However, there are some SUVs, like the Kia e-Niro, that are a lot cheaper in comparison (from £34,995).
Wrapping Up: How Much Does an Electric Car Cost? (A Buyer’s Guide)
There you have it, our buyers guide on how much does an electric car cost. We hope you found this information helpful as you weigh up a potential replacement to your current gas-guzzler.
Again, the cost of an electric car is determined by the type, make and manufacturing costs. Expensive electric cars — like some SUVs — are fantastic options, only there are alternatives you should consider if money is a factor.
You can save a decent amount of money by looking at vehicles like the Nissan Leaf. Furthermore, finding a second-hand version can reduce the price even more. Don’t forget about grants/schemes, too; they apply to home charging installations and vehicles.
Now that you know how much an electric car costs, roughly, will you be making a purchase soon? There are dozens of options these days, which should make finding the right one for you very easy.
Electric Car Pricing FAQs
In this final section, we’ll be going over your frequently asked questions circling electric car costs. We’ll be recapping some info from above — and turning the headlights on some other electric-orientated thoughts.
How much does it cost to buy an electric car?
Every electric car is priced differently. The cheapest electric car is the Renault Twizy, valued at £11,995. Most electric cars are priced between £20,000 and £35,000 depending on the model, type and brand.
How much does a Tesla cost?
Teslas are popular all over the world; this includes the UK. In terms of price, the Model S costs around £83,980, the Model 3 around £40,990 and the Model X around £90,980. Tesla has a dedicated section on their site for used vehicles if you’re looking for a cheaper deal.
Can I get a grant for an electric car?
Yes, there is an electric car grant in the UK that can award £2,500 to potential buyers. The grant exists to encourage more electric cars to hit the road. So far, the grant has helped more than 285,000 purchases.