Save money on running costs
The price you pay to power your EV is a key benefit. According to Go Ultra Low, on a cost per mile basis, an EV could cost you less than a quarter of what a traditional petrol or diesel vehicle might.
You could reduce your carbon footprint and potentially save money by switching to an electric vehicle (EV). The UK Government is also bringing forward the ban on sales of petrol and diesel cars from 2040 to 2030. So could this be the time to make the switch to an EV?
Electric vehicles have improved their range significantly over the last few years, but it’s still a concern for many buyers. For many, a lack of range is often more of a perceived problem than a real one.
Although the up front cost of buying an EV may seem expensive, there a number of ongoing savings you could make.
According to AirQualityNews.com, fully electric vehicles can cost from as little as 1p per mile to run, compared to 8-17p per mile for petrol and diesel cars. This means you could travel 200 miles for just £2 in an EV.
Fully electric vehicles generally have 3 main components; the on-board charger, inverter and motor. With fewer parts susceptible to damage, you could rarely need to have your electric vehicle serviced, keeping repair costs minimal.
Zero emission electric vehicles are zero-rated for standard tax. That means you don't have pay any vehicle tax on a pure electric vehicle.
With Clean Air Zones being introduced around the country, driving an EV is an opportunity to save on congestion charges as zero emission vehicles are currently exempt. For example, when entering the London congestion zone in an EV you could save £15 each time.
Tax reliefs referred to are those applying under current legislation which may change. The availability and value of any tax reliefs will depend on your individual circumstances.
For many drivers a major stumbling block to switching to an electric vehicle is how far you can travel before having to recharge.
A small, all weather charging point can be installed outside your home, where you will easily be able to charge your EV by plugging in the charging cable. Cost start from around £500 but the OZEV grant could contribute up to £350 towards this.
Lombard has formed a first in the market offering with Octopus Energy to help you confidently choose the right charging solution for your business.