286 The How Expensive are EVs Episode
About this episode
Exploring the true cost of electric vehicles, this episode breaks down common misconceptions about EV prices, range, and battery replacement. Drawing on reports from Electric Vehicles UK and Anderson EV, it highlights how many EVs, especially used ones, are often cheaper to own and run than petrol cars. The discussion covers various ownership methods, charging habits, and the impact of home versus public charging costs. It also addresses why public perception lags behind reality, emphasizing the need for better education and firsthand experience with EVs to overcome outdated myths.
In this episode of the show Gary discusses the true costs associated with electric vehicles and debunks common myths surrounding their affordability.
He highlights the CODE Report indicating that many consumers are deterred from purchasing EVs due to perceived high upfront costs, limited range, and expensive battery replacements.
However, he presents data showing that the majority of EV owners actually save money over time, especially those with home charging capabilities. The conversation emphasizes the importance of education in changing public perception about EV pricing and ownership.
Takeaways
Expensive upfront costs deter many from choosing EVs.
Limited range and battery replacement costs are common concerns.
Education is crucial in countering misconceptions about EVs.
80% of people save money by switching to EVs.
Home charging significantly increases savings with EVs.
Public charging costs can affect overall savings.
Used EVs often provide better value than ICE vehicles.
Many consumers have never driven an electric vehicle.
The cost of running an EV is significantly lower than ICE cars.
Pre-registered EVs can be found at substantial discounts.
Key Sound bite
"The average saving is £5,850 with an EV."
Chapters
00:00 The Cost of Electric Vehicles: An Overview
05:09 Understanding Savings with Electric Vehicles
07:02 CODE Quotes
08:01 What do other sources say
11:22 Debunking Myths: Education on EV Costs
12:41 Recent pricing Examples
15:16 Dealer Preregistrations
16:28 Conclusion: The Future of EV Affordability
The EV Musings Podcast is sponsored by Zapmap, the go-to app for EV drivers, helping you find and pay for public charging with confidence.
Links in the show notes:
- The Cost of Driving Electric (CODE) Report
- Petrol and diesel buying intent rises despite BEV growth | EY - UK
- Average range of new electric cars now 300 miles | Electrifying.com
Episode produced by Arran Sheppard at Urban Podcasts: https://www.urbanpodcasts.co.uk
(C) 2019-2026 Gary Comerford
Support me:
Patreon Link: http://www.patreon.com/evmusings
Ko-fi Link: http://www.ko-fi.com/evmusings
The Books:
'So, you've gone electric?' on Amazon : https://www.amazon.co.uk/dp/B07Q5JVF1X
'So, you've gone renewable?’ on Amazon : https://amzn.to/3LXvIck
Social Media:
EVMusings: Twitter https://twitter.com/MusingsEv
Instagram: @EVmusings
Octopus Energy referral code (Click this link to get started) https://share.octopus.energy/neat-star-460
Upgrade to smarter EV driving with a free week's trial of Zapmap Premium, find out more here https://evmusings.com/zapmap-premium
Mentioned in this episode:
Zapmap
The EV Musings Podcast is sponsored by Zapmap, the go-to app for EV drivers, helping you find and pay for public charging with confidence. Zapmap is free to download and use, with subscription plans for enhanced features such as using Zapmap in-car on CarPlay or Android Auto, and discounted charging across thousands of charge points. Download the app from the Apple App Store or Google Play Store or find out more at www.zapmap.com.
electric vehicle
"Hi, I'm Gary and this is EV Musings, a podcast about renewables, electric vehicles, and things that are interesting to electric vehicle owners."
An electric vehicle is a car that runs on electricity instead of gas. It uses batteries to store power and doesn't need petrol to move.
An electric vehicle (EV) is a car powered entirely or partially by electricity stored in batteries, rather than relying solely on an internal combustion engine using petrol or diesel.
range
"Meanwhile, limited range, 36%, had expensive battery replacement, 30% with the next most prominent reasons, among respondents for choosing not to go electric with their next vehicle purchase. ... EVs don't have poor range, as of mid-2025, the average range for UK EV was 300 miles, as per the SMT."
Range means how far an electric car can go before it needs to be charged again. The better the range, the longer you can drive without stopping to recharge.
Range in electric vehicles refers to the distance the car can travel on a single full charge of its battery. Range is a key factor for buyers considering EVs, with improvements over time increasing average ranges significantly.
battery replacement
"Meanwhile, limited range, 36%, had expensive battery replacement, 30% with the next most prominent reasons, among respondents for choosing not to go electric with their next vehicle purchase. ... battery replacement is neither expensive, as any replacements usually occur under warranty, nor required, as most batteries don't need replacing."
Battery replacement means changing the big battery in an electric car when it gets old or weak. But usually, these batteries last a long time and are covered by the car's warranty.
Battery replacement refers to the process of removing and installing a new battery pack in an electric vehicle when the original battery's capacity has significantly degraded. However, most EV batteries are designed to last many years and often come with warranties that cover replacement if needed.
electric cars
"I looked and electric cars are far more expensive than petrol cars, I can't afford one. Well, that's possibly correct. But only in the context of your personal circumstances."
Electric cars run on batteries and electricity instead of petrol, so they don't make the same kind of pollution as normal cars.
Electric cars are vehicles powered entirely or primarily by electric motors using energy stored in batteries, rather than internal combustion engines that use petrol or diesel.
Polestar 2
"I couldn't afford to take out a loan to buy a new £53,000 Polestar 2 long range dual motor. The repayments are too expensive. And it's just not worth it to me. But I could afford to get a used Polestar 2 long range dual motor on a lease."
The Polestar 2 long range dual motor is a fancy electric car with two motors that help it drive on all wheels and a big battery so it can go far without needing to recharge.
The Polestar 2 long range dual motor is an electric luxury sedan made by Polestar, featuring two electric motors for all-wheel drive and an extended battery range for longer driving distances.
loan
"I couldn't afford to take out a loan to buy a new £53,000 Polestar 2 long range dual motor. The repayments are too expensive. And it's just not worth it to me. But I could afford to get a used Polestar 2 long range dual motor on a lease. ... I also couldn't afford a loan on a Porsche Panamera and Mercedes C-Class,"
A loan is money you borrow to buy a car and then pay back a little bit each month until it's all paid off.
A loan is borrowed money from a bank or lender to purchase a car, which is paid back over time with interest, often resulting in monthly payments.
leasing
"But I could afford to get a used Polestar 2 long range dual motor on a lease. In fact, it's costing me less per month than my old ID3,"
Leasing means you pay money every month to use a car, but you don't actually own it like when you buy it.
Leasing is a way to use a car by paying monthly fees without owning it outright, often with lower monthly payments compared to buying with a loan.
Porsche 911
"It's costing me less per month than my old ID3, and about £180 per month less than the loan I was repaying for one of the Porsche 911s that I used to drive back in the early 2000s."
The Porsche 911 is a famous fast sports car that many people love because it looks cool and drives really well.
The Porsche 911 is a legendary sports car known for its distinctive design and rear-engine layout, widely regarded as an icon in automotive performance and luxury.
Volkswagen Id3
"...fact, it's costing me less per month than my old ID3, and about £180 per month less than the loan I wa..."
The Volkswagen ID.3 is a small electric car that doesn’t need petrol. It’s made to be a practical and cheaper way to drive on electricity.
The Volkswagen ID.3 is a fully electric hatchback designed to offer an affordable and practical electric driving experience. It is often discussed in terms of its cost-effectiveness compared to older electric models.
Mercedes-Benz Cclass
"wasn't because it was an electric vehicle, it's because it's an expensive luxury saloon. I also couldn't afford a loan on a Porsche Panamera and Mercedes C-Class, or a BMW 7 Series either, regardless of the powertrain. Also, if you're the sort of person"
The Mercedes-Benz C-Class is a small fancy car that is comfortable and has many modern features. People often talk about it because it’s expensive and not easy for everyone to buy.
The Mercedes-Benz C-Class is a compact luxury sedan that combines comfort, technology, and performance, making it a popular choice in the premium car segment. It is often referenced when discussing luxury car affordability and financing.
Porsche Panamera
"I also couldn't afford a loan on a Porsche Panamera and Mercedes C-Class,"
The Porsche Panamera is a fancy car with four doors that is fast like a sports car but also comfortable for passengers.
The Porsche Panamera is a luxury four-door saloon that combines sports car performance with the comfort and space of a sedan.
Bmw 7
"...on a Porsche Panamera and Mercedes C-Class, or a BMW 7 Series either, regardless of the powertrain. Also..."
The BMW 7 Series is a big, fancy car that is very comfortable and has lots of technology inside. It’s expensive to buy and maintain, so not everyone can afford it.
The BMW 7 Series is a full-size luxury sedan known for its advanced technology, powerful engines, and high levels of comfort. It is often discussed in the context of luxury vehicle ownership and the high costs associated with such cars.
EV
"an EV at the moment will probably be too expensive for you."
An EV is a car that runs on electricity instead of gas. You charge it like a phone instead of filling it with fuel.
EV stands for electric vehicle, which is a car powered entirely or mostly by electricity stored in batteries instead of gasoline or diesel.
ICE vehicle
"There is a broad spread of outcomes but consumers who charge mostly at home are far more likely to save money with an EV compared to an ICE vehicle."
An ICE vehicle is a regular car that uses gas or diesel fuel to run, unlike electric cars.
ICE vehicle refers to a car powered by an Internal Combustion Engine, which burns fuel such as gasoline or diesel to generate power.
time of day tariffs
"If you want to learn more about how to cut your public charging costs, using subscriptions, cheap charge point operators, and time of day tariffs, there's an episode coming later this season talking all about that."
Time of day tariffs mean electricity costs less if you charge your electric car at certain times, like at night when fewer people use power.
Time of day tariffs are electricity pricing schemes where the cost varies depending on the time you charge, often cheaper during off-peak hours.
public charging
"If you want to learn more about how to cut your public charging costs, using subscriptions, cheap charge point operators, and time of day tariffs, there's an episode coming later this season talking all about that."
Public charging means places where you can plug in your electric car to get more battery power when you're out and about.
Public charging refers to electric vehicle charging stations available for use by the general public, often located in parking lots, shopping centers, or along highways.
Audi Etron
"In the used market, the difference is even starker. For a 6-year-old Audi e-tron, you can save almost £12,000 against the price of an equivalent Audi Q7."
The Audi e-tron is a car that runs only on electricity, so it doesn't use gas. It's like a regular SUV but cleaner and quieter.
The Audi e-tron is an all-electric SUV produced by Audi, offering a fully electric alternative to traditional combustion engine SUVs like the Audi Q7.
Audi Q7
"...lmost £12,000 against the price of an equivalent Audi Q7. 12 grand! But of course, there are many factors..."
The Audi Q7 is a big, fancy car that can carry many people and has lots of nice features inside. It costs more than many regular cars because it’s made to be very comfortable and stylish.
The Audi Q7 is a luxury midsize SUV known for its premium interior, advanced technology, and smooth ride. It is often discussed in comparison to other luxury SUVs due to its higher price point and features.
lease schemes
"The theory is that schemes such as lease schemes and salary sacrifice schemes bring new cars to market and after 24, 36 or 48 months, these go to the second-hand market with all their initial depreciation taken off."
A lease scheme is like renting a car for a few years. You pay monthly and can return the car or buy it at the end.
Lease schemes are financial arrangements where a customer pays to use a vehicle for a fixed period, typically 24 to 48 months, after which the vehicle is returned or purchased. These schemes often lead to well-maintained used cars entering the second-hand market.
initial depreciation
"after 24, 36 or 48 months, these go to the second-hand market with all their initial depreciation taken off."
Initial depreciation means a new car loses a lot of its value quickly after you buy it, so used cars can be cheaper and better deals.
Initial depreciation refers to the significant drop in a new car's value during the first few years of ownership. This loss in value is why used cars often offer better financial value compared to new cars.
balloon payment
"Plus, I have the option of paying a relatively small balloon payment for the car when the lease is up to take total ownership of it."
A balloon payment is a big payment you make at the end of a car lease if you want to buy the car instead of giving it back.
A balloon payment is a large, final payment due at the end of a lease or loan term that allows the lessee to purchase the vehicle outright. It reduces monthly payments during the lease but requires a lump sum to own the car at the end.
home charging
"used car owners with access to home charging, driving electric was cheaper in 90% of scenarios."
Home charging means plugging in your electric car at home to charge it, usually while you sleep.
Home charging refers to the ability to charge an electric vehicle at a personal residence, typically overnight, which is convenient and often cheaper than public charging stations.
internal combustion engine
"used EVs were still more affordable over a five-year term than their ICE counterparts."
An internal combustion engine is the kind of engine in most cars that burns gas or diesel to make the car move.
An internal combustion engine (ICE) is a traditional engine type that generates power by burning fuel such as gasoline or diesel inside the engine's cylinders.
road tax
"This had calculated the overall ownership costs for an EV and petrol-powered car by assessing the latest road tax charges, average fuel, recharge costs, typical servicing costs and average insurance premiums..."
Road tax is money you pay to the government so you can legally drive your car on roads.
Road tax is a government charge that vehicle owners must pay to legally drive their cars on public roads. It varies depending on factors like vehicle type, emissions, and engine size.
recharge costs
"This had calculated the overall ownership costs for an EV and petrol-powered car by assessing the latest road tax charges, average fuel, recharge costs, typical servicing costs and average insurance premiums..."
Recharge costs are how much it costs to fill up an electric car's battery with electricity.
Recharge costs are the expenses associated with charging an electric vehicle's battery, which can vary depending on electricity prices and charging methods.
fuel costs
"This had calculated the overall ownership costs for an EV and petrol-powered car by assessing the latest road tax charges, average fuel, recharge costs, typical servicing costs and average insurance premiums..."
Fuel costs are the money you spend on gas to make your car go.
Fuel costs refer to the money spent on petrol or diesel needed to power a conventional combustion engine vehicle.
insurance premiums
"This had calculated the overall ownership costs for an EV and petrol-powered car by assessing the latest road tax charges, average fuel, recharge costs, typical servicing costs and average insurance premiums..."
Insurance premiums are the money you pay every month or year so your car is covered if something bad happens.
Insurance premiums are the regular payments made to an insurance company to provide financial protection against vehicle damage, theft, or liability.
servicing costs
"This had calculated the overall ownership costs for an EV and petrol-powered car by assessing the latest road tax charges, average fuel, recharge costs, typical servicing costs and average insurance premiums..."
Servicing costs are the money you pay to keep your car in good shape, like oil changes and check-ups.
Servicing costs are the expenses related to routine maintenance and repairs needed to keep a vehicle running safely and efficiently.
ICE equivalents
"Among used vehicles registered in 2022 or 2023, 12 out of the 15 most popular EVs are priced lower than their ICE equivalents."
ICE means cars that use gas engines instead of electricity. So ICE equivalents are the gas versions of electric cars.
ICE stands for Internal Combustion Engine, referring to traditional vehicles powered by gasoline or diesel engines. ICE equivalents mean gasoline-powered versions of electric vehicles.
Kia Niro
"... ICE equivalents. The only exceptions are the Kia Niro EV, the MG4, and the BMW i4. For 46 year old car..."
The Kia Niro is a small SUV that can run on petrol and electricity. It’s good for saving fuel and is easy to drive every day.
The Kia Niro is a compact crossover available in hybrid, plug-in hybrid, and fully electric versions, offering versatility and efficiency. It is often highlighted for its competitive pricing and practicality among electric and hybrid vehicles.
Bmw I4
"... exceptions are the Kia Niro EV, the MG4, and the BMW i4. For 46 year old cars, for vehicles registered b..."
The BMW i4 is a fancy electric car that doesn’t use petrol. It’s made to be fun to drive while also helping the environment.
The BMW i4 is a fully electric luxury sedan that combines BMW’s traditional driving dynamics with zero-emission powertrain technology. It is significant as BMW’s answer to Tesla in the electric vehicle market.
Tesla Model
"...r petrol counterpart. The only exceptions are the Tesla Model 3 and, as with two and three year old cars, the ..."
The Tesla Model Y is a small electric car that looks like a small SUV. It runs on electricity instead of petrol, so it doesn’t need gas and is better for the environment.
The Tesla Model Y is a compact all-electric SUV that shares many components with the Model 3 sedan, offering a blend of performance, range, and utility. It's significant for popularizing electric SUVs and competing directly with petrol counterparts in terms of cost and efficiency.
Tesla Model 3
"...ol counterpart. The only exceptions are the Tesla Model 3 and, as with two and three year old cars, the Ki..."
The Tesla Model 3 is a small electric car that doesn’t use petrol. It’s popular because it can go far on a single charge and is cheaper than many other electric cars.
The Tesla Model 3 is a popular all-electric sedan known for its impressive range, performance, and relatively affordable price compared to other electric vehicles. It has played a major role in making electric cars mainstream and is often compared to petrol cars for cost and efficiency.
Hyundai Kona
"...ghtly more, are the Tesla Model 3 and the Hyundai Kona. End quote. Now, again, let's look at altered so..."
The Hyundai Kona is a small SUV that can run on petrol or electricity. The electric version can drive a long way without needing to recharge, making it popular for everyday use.
The Hyundai Kona is a subcompact SUV available in petrol, hybrid, and fully electric versions, known for its value, modern design, and good range in the electric variant. It is often compared to other small electric cars like the Tesla Model 3.
Ford Puma
"...d EV pricing. Ford recently released their Gen E Puma, the electrified version of the best-selling car ..."
The Ford Puma is a small SUV that now comes with an electric version. This means it uses less petrol and is better for the environment while still being a good family car.
The Ford Puma is a compact crossover SUV that has recently been offered in an electrified version, combining practicality with improved fuel efficiency. It’s notable for bringing electrification to a popular small SUV segment.
Toyota Yaris Gr
"... will be a Toyota Yaris. I chose a similar-priced Yaris GR Sport Hybrid and found a quote online wanting £3..."
The Toyota GR Yaris is a small car that is very fast and fun to drive. It’s made for people who like sporty cars but still want something they can use every day.
The Toyota GR Yaris is a high-performance version of the Yaris hatchback, developed with rally-inspired technology and sporty handling. It is notable for combining everyday usability with exceptional driving dynamics.
Toyota Yaris
"...hing engine that will be an equivalent will be a Toyota Yaris. I chose a similar-priced Yaris GR Sport Hybrid a..."
The Toyota Yaris iA is a small, simple car that doesn’t use much petrol and is easy to take care of. It’s a good choice if you want a cheap and reliable car.
The Toyota Yaris iA is a compact hatchback known for its reliability, fuel efficiency, and affordability. It is often chosen as an economical alternative in the small car segment.
Renault 5
"...£18,000 when released later this quarter. Or the Renault 5, one of the best little cars on the market at the..."
The Renault 5 is a small car that used to be popular a long time ago and is now coming back as an electric car. It’s designed to be easy to drive in cities and not cost too much.
The Renault 5 is a classic small car that has been reimagined as a modern electric vehicle, aiming to combine retro style with contemporary electric technology. It is anticipated for its affordability and urban-friendly design.
ICE car
"Again buying news and having a driveway will save you money compared with an ICE car. If you don't have a driveway the savings will depend on your annual mileage and the state of the"
An ICE car is a regular car that runs on gas or diesel fuel, not electricity.
ICE stands for Internal Combustion Engine, referring to traditional cars powered by gasoline or diesel engines.
charging infrastructure
"If you don't have a driveway the savings will depend on your annual mileage and the state of the local charging infrastructure near you. Although you can use services such as juicer or co-charger to"
Charging infrastructure means places where you can plug in and charge your electric car, like charging stations or home chargers.
Charging infrastructure refers to the network of public and private electric vehicle charging stations available for EV owners to recharge their cars.
Juicer
"local charging infrastructure near you. Although you can use services such as juicer or co-charger to find local people with spare chargers, spare charger capacity that you can use overnight to charge your car"
Juicer is an app or service that helps electric car owners find someone nearby who has a charger they can use.
Juicer is a service that connects EV owners with people who have spare charging capacity, allowing them to charge their vehicles at private chargers.
Co-Charger
"local charging infrastructure near you. Although you can use services such as juicer or co-charger to find local people with spare chargers, spare charger capacity that you can use overnight to charge your car"
Co-Charger is a service that helps you find someone nearby who has an electric car charger you can use.
Co-Charger is a platform that helps EV drivers find private charging spots from local people with spare charger capacity.
Request an Explanation
Heard something you'd like explained? We'll add it to this episode.
Sign in to request explanations for terms you heard.
Want to learn more?
Browse our glossary for plain-English explanations of automotive terms, jargon, and concepts.
Help improve this episode
See something that's not quite right? Our annotations are AI-generated and can sometimes miss the mark. Click the flag icon on any annotation to suggest a correction.