Question 1

How much cheaper is it to charge an EV than fill up with petrol?

Accepted Answer

At Q4 2026 home charging rates (26.32p/kWh) and an EV efficiency of 3.5 miles/kWh, electricity costs around 7.5p per mile. A petrol car doing 40 MPG at 143p/litre costs about 16p per mile — more than double. On 10,000 miles a year that is roughly £850 in petrol vs £260 in electricity, a saving of around £590. The gap narrows significantly if you rely on public rapid chargers (typically 50–80p/kWh).

Question 2

What is a typical EV break-even point vs petrol?

Accepted Answer

With a £5,000 purchase premium and an annual saving of around £790 (fuel + servicing), the break-even is about 6–7 years. Higher mileage drivers break even faster — someone doing 20,000 miles/year might break even in 3–4 years. The break-even improves as petrol prices rise or electricity rates fall, and gets worse if you charge mainly on public rapid chargers.

Question 3

How much do EVs save on servicing?

Accepted Answer

EVs have significantly fewer moving parts than petrol cars — no oil changes, no timing belt, no exhaust system, and regenerative braking reduces brake pad wear considerably. Most EV owners save £150–£400 per year compared to a similar petrol car. However, battery replacement (if needed outside warranty) can be expensive, and tyre wear is higher due to the extra weight and instant torque.

Question 4

Do EVs still pay road tax (VED) in 2026?

Accepted Answer

Yes. From 1 April 2025, EVs lost their VED exemption. EVs registered after April 2025 pay the standard first-year rate of £10 and then the standard annual rate of £195 (2026/27). EVs registered before April 2025 may pay different rates depending on their CO2 emissions at time of registration. This has narrowed the road tax advantage EVs previously had over petrol cars.

Question 5

Should I charge at home or use public chargers?

Accepted Answer

Home charging is almost always cheaper. At Q4 2026 rates of 26.32p/kWh, home charging costs around 7–8p per mile. Public rapid chargers (50–80p/kWh) cost 14–23p per mile — closer to petrol costs and potentially more expensive for inefficient EVs. If you have off-peak energy tariffs (e.g. Octopus Go), home charging can drop to 7–10p/kWh overnight, significantly improving the economics.

Question 6

Are EVs more expensive to insure than petrol cars?

Accepted Answer

Yes, typically 10–25% more at present. Higher repair costs (specialist technicians, battery parts), limited repair network, and higher purchase values all push premiums up. The gap is narrowing as the insurance market gains more EV claims data and repairers invest in EV expertise. Shopping around helps, as the variance between insurers for EVs is wider than for petrol cars. Some insurers now specialise in EVs and offer more competitive rates.

Question 7

Are there any grants available to help buy an EV home charger?

Accepted Answer

Yes. The EV Chargepoint Grant (EVHS) from OZEV covers 75% of the cost of a home charger, up to £350. You need to apply through an OZEV-approved installer. The grant is available to homeowners with off-street parking who own or are ordering an EV or plug-in hybrid. The grant does not apply to public chargers or chargers at rental properties (renters have a separate scheme). Many installers handle the application for you as part of the installation process.

EV vs Petrol Cost Calculator UK 2026