How Much Would You Save With An Electric Vehicle?

How much would you save with an electric vehicle?

Although the market share in the Spanish car fleet is still a minority, the purchase of electric vehicles increases year after year. For 2023, an increase of 84% is already expected compared to 2020.

And the industry is progressing by leaps and bounds. The reduction of CO2 emissions, the improvement of autonomy, the multiplication of infrastructures and the diversity and reduction of the prices of the new models are turning the electric car into an increasingly attractive option for consumers.

In addition, on the other hand, we must bear in mind that an electric car is less expensive than a conventional one. You are not sure? We tell you how and how much you can save with an electric vehicle.

Fuel savings

When talking about savings, the first thing we think about is fuel. The consumption of these cars is between four and five times less than that of a gasoline or diesel. First, because it is much more energy efficient, and second, because electricity is considerably cheaper than fuel.

Car insurance

When electric cars appeared on the scene, the insurance fee was visibly more expensive than conventional vehicles. Today this is no longer the case, prices have been equalized and coverage has been adapted. There are specific insurance for electric cars that respond to the new specific needs of these models. For example, they include fast charging service to be able to resume driving in case of running out of battery. 

Maintenance

The maintenance of an electric vehicle represents a saving in the medium term compared to diesel and gasoline. Its mechanical system is simpler, it does not have oil, timing belts or clutch. Therefore it requires fewer servicing and has less risk of failure. 

More comfort

Less polluting cars can access urban centers even with restrictions and park for free in the zones for hours. These small advantages are noticeable in the medium term in your pocket. They are also more comfortable to drive because they hardly generate noise. 

Tax savings

Many autonomous communities apply discounts on the registration tax on hybrid and electric cars. In some areas you can save up to 75% of the total amount. 

Similarly, the government is announcing aid in order to promote cleaner vehicles. Measures such as the reduction of VAT and the Moves Plan are proposed with incentives to purchase through the granting of public aid.

Less contamination

Reducing greenhouse gases and contributing to the fight against climate change is another of the great incentives when it comes to acquiring a car with zero emission of gases. Furthermore, the electricity needed to charge it can come from renewable energy.

This turns cities into cleaner and healthier spaces and contributes to bringing us closer to the objectives of sustainability and improvement of the environment of these new decades.

What else do you have to consider

If you opt for an electric car you have to take into account that the initial cost of the vehicle will be slightly higher than that of a gasoline or diesel model. In addition, you must have a charging point. If you do not have the installation, you will have to invest around € 1000.

Despite these last mentions, opting for an electric vehicle implies considerable savings in the cost of the car. The higher purchase amount and the cost of the charging point will be amortized in a short time. Likewise, to the economic savings we must add the reduction in pollution and the advantages that this implies for society as a whole.

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