Drivers could save more than £11,500 by 2035 by purchasing an electric car | Personal Finance | Finance

Drivers could save over £11,500 on average in running costs by 2035 if they purchase an electric car, according to new research.

A study by Auto Trader has revealed that electric vehicle drivers who mainly charge at home can typically save as much as £142 per 1000 miles compared to running a petrol or diesel car.

As the average UK commuter travels 127 miles a week and 6,640 miles per year, this could lead to a saving of £942 over the space of one year.

This amount is savings will be around £6,835 by 2030 and £11,539 by the end of 2035 despite rising energy bills.

Any electric vehicle drivers who use public and private charging stations should expect to save £84 per 1,000 miles which will rise to £6,693 by 2035.

Read more… Fixed energy deals trap warning as bill payers may get better deal if they wait

Even with these savings, a survey carried out by Auto Trader highlighted that much of the public is still unsure if a “green” car is for them.

Only 39 percent of respondents shared that they will buy an electric car by 2035 with many believing there are still many barriers preventing them from buying.

The trading company is urging UK drivers to not lose confidence in electric cars following recent government announcements and policy changes.

Based on Auto Trader’s research, commuters only need to charge their electric car less than once a week to get a full week of regular driving usage.

Based on Auto Trader’s research, an electric car on a single charge could be used for three visits to the supermarket, ten school runs, six commutes, three visits to loved ones, five general shopping trips and one trip to a restaurant.

Erin Baker, Auto Trader’s Editorial Director, broke down why electric cars are not as expensive as many people think.

She explained: “Our data shows that there are many short and long-term benefits in investing in electric cars – from saving money on your running costs to never visiting a petrol station again.

“While the up-front costs can be a barrier for some when purchasing electric vehicles, finance and leasing deals can be a great way to get into ownership.

“There is also salary sacrifice schemes and benefit-in-kind tax breaks for those in companies that offer convenient ways to own an electric car – these schemes run up until 2025, so now is the perfect time for both businesses and drivers to look into and make use of.”