Electric vehicles may have a reputation for being expensive, but new figures from Leasing Options suggest many drivers could be missing out on significant savings, especially those planning road trips or touring holidays.
With the right charging setup, drivers could cut their annual “fuel” costs by hundreds of pounds. A typical petrol car costs just over £1,000 a year to run based on average mileage. By comparison, an electric vehicle charged at home on a standard tariff could reduce that figure to around £538 and even further to as little as £136 a year when using a smart off-peak tariff.
That’s a potential saving of nearly £900 annually. For long-distance driving, this difference is especially important.
Mike Thompson, Chief Operating Officer of Leasing Options, said, “The idea that EVs are expensive to run is outdated. When you look at how people actually charge their cars – mostly at home, often overnight and increasingly on smart tariffs – the savings are undeniable. Even with rising energy prices, EVs remain dramatically cheaper to ‘fuel’ than petrol or diesel cars.”
The key lies in how and where drivers charge. While public ultra-rapid chargers can be expensive, home charging, particularly overnight on smart tariffs, offers dramatically lower costs. The data from Leasing Options reveals that some tariffs provide electricity at around 7p per kWh, making it far cheaper than both petrol and standard electricity rates.
For touring enthusiasts and caravanners considering a switch to electric, this could be a game changer. Lower running costs, combined with quieter driving and growing charging infrastructure are making EVs an increasingly practical option for UK-based travel.
“As cost-of-living pressures continue into 2026, understanding the reality of EV running costs could help households save hundreds or even thousands of pounds each year,” Mr Thompson added. Whether it’s a weekend touring trip or a longer staycation, understanding the true cost of running an EV may help more drivers rethink how they hit the road.
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