Smart ways to save on electric cars 🔌

Making the switch to an electric vehicle is already a shrewd move for your wallet, and, of course, the planet, but there are even more ways to save money. From tax breaks and smart driving habits, we've got some practical hints and tips to help you get the most out of your EV without breaking the bank.

🏠 1. Charge smart at home

Use off-peak tariffs. Many energy providers offer cheaper electricity rates overnight. Charging your EV during these hours can significantly cut costs. Install a smart charger. These can schedule charging during the cheapest times and optimise battery health. The government offers several grants and incentives. Check here

🅿️ 2. Maximise free and low-cost charging

Some supermarkets—such as Aldi, selected Asda locations, and Sainsbury’s—offer free EV charging, while others charge between 25p and 83p per kWh. Since pricing and availability can vary, it’s best to check with your local store for the most up-to-date information.

🛠️ 3. Save on maintenance

EVs have fewer moving parts than petrol or diesel cars, meaning lower servicing and repair costs over time. So there’s no need for oil changes, spark plugs and some exhaust components. Although electric vehicles still need regular servicing.

🚗 4. Choose the right EV for your needs

Match range to usage: Don’t overpay for a long-range EV if you mostly do short trips. Consider used EVs: The used EV market is really taking off, making it easier to find cheaper options that don’t lose value as quickly.

🏢 5. Salary sacrifice schemes

An EV salary sacrifice scheme lets employees lease an electric car by giving up a portion of their salary before tax. This lowers their taxable income, which means they pay less in income tax and National Insurance. It’s a smart and popular way for both employees and employers to save money while making electric cars more affordable.

IAM RoadSmart Director of Policy and Standards Nicholas Lyes said: "Switching to an electric vehicle isn't just an environmentally conscious decision; it's a smart financial move." With lower maintenance costs, government incentives, and savings on fuel, owning an EV is like putting money back into your pocket every time you drive."