How much do electric cars cost?
Although electric cars are marginally more expensive to buy than equivalent petrol/diesel cars, their price of electric cars varies greatly, from around £12,000 to over £100,000 for luxury models. It really depends whether you are looking for a runaround, a big family car or a stylish high-end model. Their increased initial cost (comparative to petrol cars) is offset over their lifetime by reduced running costs.
Can I get a grant for an electric car?
The UK Government offers generous grants towards the cost of electric vehicles. A fully electric car is eligible for a grant of up to:
- 35% of the cost of a car, up to a maximum of either £2,500 or £4,500, depending on the model
- 20% of the cost of a van, up to a maximum of £8,000
Can I get a grant for a home charging point?
Yes. The OLEV Grant – provided by the Office for Low Emission Vehicles – gives eligible electric/hybrid car owners a grant of £500 towards installing a home charging point. This normally covers all or most of the installation cost, meaning you only need to buy the charger itself.
If your electric or plug-in hybrid vehicle was bought since 1st April 2015 and you have off-street parking, you will be eligible for the grant, providing you use an OLEV-approved installer. You can get one charging point installed per eligible vehicle and up to two per household. Most electric vehicles are eligible for the grant – you can check you qualify here.