Which is Cheaper to Run: Electric or A Hybrid Car?

Deciding between an electric or hybrid car can be tricky, especially when considering what's cheaper to run in the long term. Understanding the cost implications of both electric and hybrid vehicles is crucial for making an informed decision.

To help, we’ve put together a great little guide. This will give you an idea of the costs of running electric cars vs petrol or hybrid models in the UK.💵

Difference Between Hybrid and Electric Cars

The core difference between hybrid and electric cars lies in how they run. Electric cars run solely on electricity stored in their batteries, which you recharge by plugging them into an electric source.

Once the battery runs low, you recharge it, and off you go. No petrol or diesel is ever needed, which means no emissions during driving.

Hybrid cars, on the other hand, operate with a combination of a traditional combustion engine and an electric battery. They're like a dual-fuel stove that can use both gas and electricity.

They automatically switch between the electric motor and the petrol engine, or use both for optimal efficiency, depending on the driving conditions.

Factors to Consider

Hybrid cars are often seen as a stepping stone between traditional petrol cars and electric vehicles (EVs), offering improved efficiency and range assurance.

However, the duel systems in hybrid cars usually mean they are heavier and can be more complex to maintain.

Electric cars tend to have fewer moving parts, which potentially makes them simpler and cheaper to service. They do rely on a specialist charging infrastructure though, which is still being developed in many areas.

Electric Cars vs. Hybrid Cars: Cost Comparison

When comparing the costs of electric and hybrid cars, there are several factors to consider beyond the initial purchase price.

Electric cars generally have a higher upfront cost than hybrid cars, though the gap is beginning to close.

The cheapest hybrid car may seem like a bargain initially, but you need to factor in fuel consumption, tax incentives, and maintenance.

Comparing Short-term and Long-term Costs

Electric cars, while often more expensive up front, can be cheaper to run day-to-day. They benefit from lower electricity costs compared to petrol, especially with the option to charge at home potentially on a cheaper tariff.

The long-term savings for electric cars can also be substantial when considering the cost of running an electric car vs petrol in the UK.

The absence of an exhaust system, a traditional engine, and a complex transmission means less wear and tear. This typically translates to lower maintenance costs and, in many regions, tax breaks or incentives for going electric.

Hybrid cars, while they do save on fuel compared to standard petrol cars, still incur costs for both petrol and electricity. They also require extra maintenance for their more complex systems.

Both types of vehicles can be purchased on finance, making them easier to afford. You can calculate your budget to see which option is more affordable to you.

Fuel Efficiency and Savings: Electric or Hybrid Cars?

When it comes to fuel efficiency and potential savings, electric cars have a distinct edge. They are designed to get the most out of every charge. Many modern models can travel impressive distances before they need to be recharged.

The cost of electricity needed to power an EV can be significantly lower than the petrol required to drive a hybrid the same distance. As electric cars are often eligible for various government incentives, there’s the potential to make even more savings.

Hybrid cars, while more fuel-efficient than traditional petrol cars, still depend partly on fluctuating fuel prices. However, they can be a more economical choice for drivers who cover a lot of miles.

In urban settings with frequent stops, hybrids can also capitalise on regenerative braking. This recharges the battery and reduces fuel consumption, making hybrid cars more efficient.

How can I choose the best car to match my budget and requirements?

To ensure you’re choosing the best option to suit your needs, begin by considering how you typically drive.

If you mostly drive short distances in urban areas, an electric car could be ideal. They offer cheap running costs and the convenience of home charging.

For those regularly travelling longer distances, a hybrid car might be the best of both worlds. They provide the flexibility of a petrol engine for an extended range without the need for frequent stops to recharge.

Next, consider the total cost of ownership, not just the purchase price. This includes the cost of fuel or electricity, maintenance, insurance, and any tax incentives or benefits. Remember, the cheapest hybrid car may save you money upfront, but an electric car could offer more savings over time.

It's also worth checking out hybrid used cars, which can be more affordable. At Carmoola, we offer affordable used car finance that’s quick and easy to apply for.

We offer a fully online application process that can give you the funds for your new EV or hybrid model in as little as the same day.

Take the time to research and perhaps test drive both options to see which feels right for you.🚦😄

Read more about electric and hybrid cars:

• What’s the Difference Between an Electric Car and a Hybrid?
• Advantages & Disadvantages of Hybrid Electric Cars
• 9 Facts About Electric Cars That Might Shock You!