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Running costs of an electric car

If you are trying to calculate the running costs of an electric car the most obvious place to start is the cost per mile.  To be able to work this out you first need to understand the cost of running your current Petrol or Diesel vehicle, the fastest calculation for this is below:

 

Cost per litre of fuel multiplied by 4.54 (= one gallon)  Next you need to check either the advertised MPG of your vehicle or for a real life example, check the trip computer on your current car to view your current MPG, this will give you an idea of how many miles you get from your vehicle on average, per gallon of fuel.  Next you should take the price of the gallon of fuel and divide by the average number of miles you currently achieve, this will give you a fairly accurate pence per mile running cost.  The cost of this is of course variable as fuel price can fluctuate daily.  Your driving style will also impact MPG, as will the type of driving you undertake, for example driving on the motorway is far more efficient than driving around towns or villages.  

 

Now you have this cost identified, you should calculate what the cost per mile will be in your electric car, to do this you should repeat the same process as above, however you need to calculate the cost of electricity to fully charge the vehicle and then divide by the advertised range.  This can also be variable but you should be able to come to a conclusion on which will be more efficient. 

 

Charging at home using designated electric car tariffs is the cheapest way to charge (except if you have free charging from Tesla).  Charging an electric car at charge points at supermarkets and garages is the most expensive as they are often high power or rapid charge systems which favour speed over affordability.

Electric Lease Car FAQ's