Is It Getting Cheaper To Own An Electric Car?

Are you thinking about switching to an electric car? You’re in good company. Adoption of electric vehicles in the UK is growing, with more than 1.5 million battery-powered EVs on the road in 2025. But one of the things stopping many families from investing in an EV is the cost. An EV can come with a high upfront cost, which is why many people are choosing to stick to their petrol cars, but is it getting cheaper to own an electric vehicle? Find out more and see if it could be time for you to make the switch.

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Are electric cars getting cheaper?

While early adopters might have paid a high price for their EVs, the reality is that they are coming down in price. Thanks to schemes like the Government’s Electric Car Grant, EVs are becoming more affordable. With new petrol and diesel cars being banned from 2030, it’s also in manufacturers’ interests to make EVs more affordable, so you can expect to see prices continuing to come down soon. 

Not only that, but the mileage ranges are also increasing. So if you’re worried about running out of power, soon EVs will drive for as long as a petrol car on a full tank, making them even more appealing to drive.

Make owning an electric car cheaper for you

If you’re thinking of getting an EV but are worried about the cost, consider some of the following ideas to help make an EV more affordable for you.

Compare the costs

First of all, do some price comparisons to see if an EV will work out cheaper overall than another car. Your car could help you save money, helping you cut down on fuel costs. Some energy companies offer some incredible rates on EV charging, costing just a few £s to top up your car each week.

Look for a used car

Buying a used car is another way to make an EV more affordable. A search for Ford used cars can bring up some excellent prices for electric vehicles, helping you save money on newer models. You could find a car that’s done relatively few miles, helping you find a real bargain. 

Consider a leasing scheme

Leasing an EV could be the most affordable option for you in the short term, helping you pay a fixed monthly cost for your EV. If your priority isn’t to have a vehicle as an asset, this could be a good move for you. Many businesses and organisations offer their employees salary sacrifice EV schemes, which could help you reduce how much tax you pay while securing an affordable EV.

EVs are becoming more popular, and with new and exciting models being launched regularly, it is getting cheaper to own an electric car. From choosing used to taking advantage of schemes and grants, there are different ways you can cut the costs of buying an EV. Weigh up your options and shop around to help you find something that meets your needs and your budget.