Costs: is an electric car really cheaper?
It’s certainly cheaper than people think.
Let’s take the new Kia e-Niro as an example. The WhatCar? 2019 Car of the Year can be purchased with a £3,500 Plug-In Car Grant from the government, bringing the cash price down £32,995 – comparable to the price of similar combustion engine car.
You can also receive £500 towards the cost of installing a home charging point, meaning you’ll only actually pay between £200-300.
Electric cars really start to save you money after you’ve bought them, though. They’re exempt from road tax, saving you as much as £500 across the first three years. You’ll also be able to avoid charges in Congestion Zones or in one of the many Clean Air Zones which are being enforced in cities across the UK.
Companies can benefit from switching to electric, as well. Benefit in Kind (BiK) tax for currently stands at 16%, but that drops to 0% for any company which goes electric.