They’re more expensive to buy but with petrol prices soaring… how long does it take to save money with an electric car?

Motorists are driving a car-buying revolution — with electric vehicles accounting for one in three new car sales.

There are 400,000 already on the roads, up from 130,000 five years ago. And this figure is rising rapidly as the Government seeks to ban sales of new petrol and diesel cars and vans by 2030.

Surging fuel prices are also boosting their popularity. So much so that UK motorists bought more electric vehicles last year than in the previous five years combined.

But they don’t come cheap — and many people will be wondering if it’s worth the investment.

Electric cars are more expensive to buy

Electric cars typically cost more than petrol equivalents. For example, a Vauxhall Mokka-e is £5,000 more expensive than the same model in a 1.2-litre petrol version.

Vauxhall-Mokka-eSUV (Image:

Vauxhall-Mokka-eSUV (Image:

The cheapest new model on the market is currently the SEAT Mii Electric at £21,300, while the UK’s best-selling electric car is Tesla’s Model 3, which starts from around £45,990.

However, the Government currently provides a grant worth up to £1,500 towards electric cars under £32,000.

While there is no formal deadline for this grant, the maximum amount has been cut by £500 every year since 2018, when it was worth £3,500. The money should automatically be applied by dealers.

Read more: ThisMoney

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