Three major ways switching to an electric car could save you more than £3,000 EVERY year

HERE are three ways switching to an electric vehicle could help you save more than £3,000 a YEAR. The eco-friendly cars are significantly cheaper than their petrol-powered counterparts, an expert says. According to research by Vanarma, EV owners could pocket £3,108 each year in savings – that’s an extra £259 per month or £12,432 throughout […]

HERE are three ways switching to an electric vehicle could help you save more than £3,000 a YEAR.

The eco-friendly cars are significantly cheaper than their petrol-powered counterparts, an expert says.

Getty

Here’s how you can save with an EV[/caption]

According to research by Vanarma, EV owners could pocket £3,108 each year in savings – that’s an extra £259 per month or £12,432 throughout your car’s lifetime.

A spokesperson for the auto-experts said: “With the UK’s cost of living on the rise, many drivers may be looking at long-term changes they can make to alleviate the pressure.

“Of course, the asking price of an EV is often higher than an equivalent petrol or diesel, but Vanarama’s research shows the day-to-day savings currently swing in favour of electric.”

Here’s how you can save.

Low emissions zones

Low emissions zones (LEZs) charge drivers of highly-polluting cars a fee in a bid to encourage them to use more eco-friendly ways of travelling in those areas.

But Vanarma’s data says EV drivers could save £175 a month through LEZ exemption, which equates to £2,100 per year and £8,400 per average total vehicle ownership, which is estimated to be around four years.

Not paying for fuel

The research also says not paying for fuel at the pump could save around £72 a month.

This works out at £858 per year and £3,432 per average total vehicle ownership, according to experts.

The spokesperson added: “The fuel savings, from NimbleFins, include the cost of charging an EV, based on the average British driver’s yearly mileage of 7,600 miles.”

Car tax exemption

Some EV owners are exempt from car tax – saving around £13 a month.

This works out at £150 per year, and £600 per average total vehicle ownership from not having to pay car tax, according to the findings.