Question 1

What factors contribute to total vehicle running costs?

Accepted Answer

Total cost of motoring includes annual fuel/charging expenses, Vehicle Excise Duty (road tax), insurance premiums, scheduled servicing, replacement tyres/consumables, and depreciation.

Question 2

How much cheaper is running an electric vehicle compared to petrol?

Accepted Answer

Domestic home overnight charging typically costs 7p to 9p per mile compared to 15p to 20p per mile for a petrol or diesel car, though public rapid charging rates can narrow the difference.

Question 3

How does depreciation affect annual ownership costs?

Accepted Answer

Depreciation is often the largest single cost of owning a vehicle, especially in the first three years. Buying a 2-to-4 year old approved used vehicle significantly reduces depreciation impact.