Cost-Saving Benefits of Electric and PHEV Cars
Owning an all-electric or PHEV car can come with cost-saving benefits too. Lower road tax is a massive bonus. Electric cars are exempt until April 2025, although this is prone to change. Hybrids, on the other hand, pay less vehicle tax compared to a petrol or diesel alternative.
As fully electric cars also release no tailpipe emissions, you’ll be fully exempt from Ultra Low Emission Zone charges too. Electric cars, for example, do not need to pay the London Congestion Charge, but must still be registered with Transport For London to drive in the zone.
There are also benefits to business car drivers. Those driving the all-electric I-PACE can enjoy significantly reduced benefit-in-kind (BIK) tax. Not only that, but in the UK, businesses can claim a 100% first-year allowance for electric vehicles until April 2025. This means you can deduct the full cost of the Jaguar I-PACE from your taxable profits in the year of purchase.
While it’s no secret that energy prices have risen in recent years, charging your Electric or Hybrid Jaguar model will still cost less than filling up with petrol or diesel, especially if you take advantage of specialised electric vehicle tariffs and off-peak charging times. If you’ve got solar panels, you can also talk to your provider about charging your car using solar energy to bring costs down even further and reduce your reliance on the National Grid.
Hybrid models require electric power and either diesel or petrol. But seeing as most PHEV vehicles offer a pretty impressive EV range, you will probably make less trips to the pump than you’d expect. So long as your car is charged, you can nip to town, do the weekly shop or pick your children from school, without the combustion engine kicking into action. Speak to our Dick Lovett Jaguar team for more information about electric and hybrid servicing.