This article is sponsored by KwikFit
The British motoring company KwikFit recently commissioned research that looks into where is the most expensive place to own a vehicle in the UK. They added up the different costs of things like insurance, servicing and parking in each city. In doing so, they revealed that Birmingham is the most expensive city to run a car whilst Exeter is the cheapest. There is one small anomaly though; the total cost does not factor in the differences between standard and electric cars.
Although there are certainly no differences in parking costs for electric vehicles compared to diesel or petrol ones, the cost of fuel is very different—the main thing being that, obviously, electric cars require no fuel. When you consider that 80% of electric car owners charge their vehicle at home, according to BP Chargemaster, you could pretty much wipe this cost out completely. By looking at KwikFit’s data, this means drivers in Birmingham could, for instance, save as much as £70 every time they top up their car.
That said, the savings on fuel may also balance out with the fact that insuring an electric or hybrid car can be more expensive than insuring a car with a petrol or diesel engine. Insurers overpriced premiums because they had no historic data to work on regarding the cost of repairs and wanted to be cautious. However, experts suggest that this situation is changing now that electric cars are becoming more commonplace. They predict that we will start to see lower prices in the coming years.
As KwikFit’s statistics reveal, there are a myriad of factors that affect how much owning a car will cost. In some ways, the cost of living in a city like Birmingham will only increase if you choose to purchase an electric car. In other ways, it will reduce the cost compared to a petrol or diesel engine vehicle.