Running costs: what an electric car costs
An electric car has less of an impact on the environment than a combustion engine, is extremely quiet and really fun to drive. However, the cost is also an issue when it comes to buying a car. Yet electric vehicles stand up well in this regard, too, as they are often cheaper than combustion engine cars.
An electric car has less of an impact on the environment than a combustion engine, is extremely quiet and really fun to drive. However, the cost is also an issue when it comes to buying a car. Yet electric vehicles stand up well in this regard, too, as they are often cheaper than combustion engine cars.
An electric car makes financial sense because ...
- ... maintenance and service costs for electric vehicles are comparatively low, as the electric car engine is made up of fewer parts prone to wear and tear.
- ... pure electric cars registered by 2025 can be vehicle tax exempt for ten years, up to 2030 at the latest.
- ... electric car drivers can save more with special car electricity tariffs.
- ... higher acquisition costs do not mean higher maintenance costs.
Pollute the environment less, lower CO2 emissions and produce less noise: there are many (good) reasons to switch from a petrol or diesel car to a car with an electric drive. Aside from the environmental aspects and range, anyone thinking about this often understandably wonders what an electric car will cost them. How much is the maintenance? And is investing in an electric car worth it?
There are incentives to encourage consumers to buy electric cars
The good news is that, compared to conventional vehicles, electric cars come out on top when it comes to maintenance and operating costs. This means that investing in an electric vehicle pays off, even though the purchase price tends to be somewhat higher for an electric car than a comparable combustion engine car. However, the base prices for electric vehicles are already falling. There are also incentive schemes for purchasing electric cars. Electric car drivers can currently get a government environmental incentive1 of up to €9,000 for pure electric cars, and still get up to €6,750 for plug-in hybrids – providing all the necessary requirements have been met, such as minimum range or emissions. You can only apply for the incentive scheme online via the German Federal Office of Economics and Export Control (BAFA) application form. This scheme is set to run until the end of 2025. There are also incentives for the purchase and installation of private charging stations.
Lower maintenance costs for electric cars
Electric cars have the edge when it comes to maintenance and repair costs, which are generally significantly lower than for a diesel or petrol car. Why? Maintaining an electric vehicle is cheaper because the services are usually not as complex as for combustion engine cars. This is because electric cars do not have a lot of components and parts prone to wear and tear, including spark plugs, gearbox or clutch. There are also hardly any liquids that need changing. Despite all of this, electric cars may not be maintenance-free but expensive oil changes with filters are a thing of the past.
Electricity versus fuel costs: which is cheaper to run?
Electric vehicles can also win out when it comes to energy costs. A Volkswagen ID.4 consumes around 17 kWh per 62 miles depending on its battery size and driving style. At just under 32 cents per kWh, this puts the cost for 62 miles at €5.44. A diesel vehicle consuming 5 litres per 62 miles comes out at €6.50 based on €1.30 per litre of diesel. A petrol car that is filled up with Super Unleaded and generally consumes more will be even more expensive. By way of example, a car consumes an average of 7 litres per 62 miles. Based on a price of €1.48 per litre of Super Unleaded, this adds up to €10.36. If you drive 12430 miles per year, your fuel or electricity costs will be around €1,088 for an electric car, €1,300 for a diesel and €2,072 for a petrol car.
If you drive a lot, you’ll benefit in particular from the lower energy costs. You can also save by choosing special car electricity tariffs. These tariffs are often especially cheap in the evenings and at night, which is a great fit – cars are often hooked up to the wallbox in the evening, after all, so that they are fully charged by the next morning. It becomes even more attractive if you can charge your electric car free at your work – and do so tax-free. Some supermarkets, restaurants and hotels provide fast charging stations, and some of them are free to use as well.
Vehicle tax and insurance
Speaking of taxes: pure electric cars registered by 2025 could be vehicle tax exempt until 2030. This is how the German federal government wants to drive forward electric mobility. The aim is for seven to ten million electric vehicles to be registered in Germany by 2030. The federal government also wants to reduce CO2 emissions in the transport sector by at least 40 percent.
Maintenance costs also include the cost of car insurance. How expensive a policy is depends on factors, such as regional classes, years of no claims bonus, age, number of drivers and the car model. Insurers have now had some positive experiences with electric car drivers and have found that they often adopt more anticipatory driving behaviour and cause fewer accidents, which means that they are classified in lower insurance groups as a result. Electric car owners also benefit from eco-tariffs and discounts.
Electric cars often fare better
If you add up all the maintenance costs of a vehicle, including its purchase price, consumption, vehicle tax, maintenance, wear and tear, insurance and depreciation, electric vehicles increasingly do better than comparable combustion engine cars. The ADAC also came to this conclusion after comparing the costs of electric cars and plug-in hybrids with those of petrol or diesel cars with similar engine performance and features. Although electric cars tend to be more expensive to buy, this is offset primarily by their low maintenance and operating costs, as you have to pay them year after year for their entire life, but you “only” have to buy the vehicle once. Plus the consumption costs are lower. Then there’s the current government environmental incentive1 that makes buying an electric car attractive, or the eight-year guarantee on the battery, and all the other (good) reasons to purchase an electric car.
