Electric car shock – cheaper to run but £10k EXTRA to buy. ‘10 years to break even’

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Electric vehicle (EV) buyers can get a government-funded plug-in grant of up to £1,500, available for new cars under £32,000. This does not apply to hybrids.

You do not have to claim the grant, dealers and manufacturers will include it in the price. Check if your chosen motor qualifies at online government portal Gov.uk.

Even with the grant, EVs cost a lot more to buy. The Mini Electric costs from £28,500 (£27,000 with the plug-in grant), but you can buy an entry level Mini 3-door Hatch from just £17,415. That is an incredible £9,585 less.

Similarly, the Peugeot e-2008 has an on-the-road price of £33,700 (£32,200 with the grant), but you can buy away a petrol Peugeot 2008 for £22,735.

The difference? A cool £9,465.

CompareTheMarket director Alex Hasty cautioned: “The significant upfront cost of buying an electric car and installing a home charging point means many drivers cannot afford this option.”

On the plus side, electrics have lower running costs.



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