Would renting an electric car really save you money?

Thinking about renting an electric car? There are a bunch of reasons to go green, but is saving money really one of them? Let’s take a look…

The switch to greener, pure electric vehicles has certainly taken off in the last couple of years with a 76.3% increase in electric car sales in 2021. While data from the Society of Motor Manufacturers and Traders (SMMT) shows that overall new car sales have declined since the start of the Covid-19 pandemic, electric car sales seem to be soaring.

However, one factor that puts off potential EV drivers is the perceived high costs of buying or renting an electric car. We will admit, buying an electric vehicle outright at the moment will cost you more than a petrol or diesel alternative. 

That being said, renting an electric car could save you some pennies! In fact, renting a car tends to work out more affordable than buying any new car outright, not just electric cars. Plus, the monthly payments for renting tend to be less than the monthly payments you’d find if you bought an electric car on finance. 

Most people opt for renting an electric car because of the short term deals and limited commitment. With renting, you can switch up your EV after a year or so and there are no large fees at the end of the agreement.

Of course, you aren’t paying to eventually own the vehicle. Like renting out a house, you’re simply paying to temporarily drive the vehicle until you need to return it to your rental company. 

That said, there’s no need to worry about additional costs like maintenance and servicing as these are usually all included within your agreement. (They are at EVision at least!)

It appears renting an electric car is also more affordable than renting a petrol or diesel car. In fact, figures from LV= and Plug Life Consulting show that you could save £7,000 over a four year rental term when choosing an EV. 

Are electric cars more affordable long term?

Now we’ve covered how much you could save by renting an electric car, let’s take a look at how affordable they are long term. You may know that electric cars are often cheaper to run and maintain due to having few moving parts, but how much cheaper are they?

Well, LV= and Plug Life Consulting have examined the ongoing costs of electric vehicles to their petrol or diesel counterparts. Their findings show that electric cars are 49% cheaper than petrol or diesel cars, based on their average annual running costs.

That’s an average saving of £109 a month for electric vehicle drivers. Plus, electric vehicles generally have a longer lifespan and require less maintenance, which results in even bigger savings.

But where do these savings come from? Well, the biggest savings on running costs are for fuel. Based on an average of 12,000 annual mileage, drivers of vehicles with internal combustion engines can expect to spend £900 more a year on filling up than drivers of EVs.

Meanwhile, average yearly EV maintenance costs work out to be roughly £270 cheaper than maintenance costs on petrol and diesel vehicles. This is mainly due to electric vehicles lacking timing belts, spark plugs and exhaust gas regulators – all of which can prove costly to repair.

Renting an electric car from EVision

If you’re ready to rent an electric car, EVision is the place for you! We offer both short and long term rental agreements that are suited to meet your needs. 

Plus, when you hire for 12 months or longer you’ll have the opportunity to swap your vehicle twice within your rental period. That means you can choose to upgrade your electric vehicle when planning a long haul road trip or an urban city break – meaning you’ll always have the best vehicle for your journey.

Here at EVision Electric Vehicles, we make sure to keep our fleet of electric vehicles up to date with the latest models. We recently had a fantastic delivery of some of the newest EVs on the market, including the Tesla Model Y, Kia Soul EV and Mercedes EQC.

That being said, we still love to keep hold of some of our customers’ favourites! Despite electric vehicles like the Renault Zoe and BMW i3 being released nearly a decade ago, they’re still absolutely brilliant choices with their new upgrades.

You can check out all of our electric vehicles available here! If you need any more information or support, feel free to contact our friendly team via mail@evisionevs.co.uk or call them on 01634 914063.