Last updated: October 2025
2024 data from comparison site Compare the Market states that electric cars are £528 cheaper to own and run than petrol cars.
If you’re in the market for an electric car, you might notice that the upfront purchase price, or even the monthly leasing costs, are often higher than those of an equivalent petrol or diesel model. However, don’t let that deter you.
While the initial outlay for an electric vehicle (EV) can be more expensive, that extra cost is often cancelled out by significantly lower running costs. From refuelling to maintenance and repairs, electric cars can be substantially cheaper to run than their petrol-powered counterparts.
Our experts explore all the ways electric vehicles can save you money – and where they might fall short – so you can make an informed decision before making the switch.