I like electric cars – they drive better than other types and are more relaxing.
However, many owners forget to include depreciation when talking about how low their running costs are. Whether you are comparing electric to petrol or just between similar cars, depreciation always needs to be accounted for.
I’ve seen electric car owners talk of a cost per mile as low as 2 pence, compared to a hybrid at around 10 pence per mile.
But, this excludes depreciation which can be quite a bit higher on a new electric car compared to a used hybrid car.
There is a plentiful supply of used hybrid cars available, that can have their manufacturer warranties extended to make them equivalent to running a new car. Whereas your choice for an affordable 200 mile+ range electric car is limited to new ones at present.
It’s no good saving a thousand pounds a year on fuel, only to blow many thousands a year on depreciation…