► Cheaper upfront costs for petrol cars
► EVs cheaper to run/maintain long-term
► EVs no longer get free road tax
The 2035 ban on the sale of new petrol and diesel cars isn't too far away, and with some calling for it to be moved back to 2030, it could come even sooner.
And as the vast majority of lease cars are brand new, it does have the alarm bells ringing if you want to be regularly leasing cars 10 years down the line
Electric vehicles are obviously greener, but are they cheaper to run? More enjoyable to drive? How do the drawbacks square up?
We’ve put together all you need to decide.
Purchase Price and Incentives
EVs:
✔ Government incentives to get an EV
✕ More expensive upfront costs, though prices are gradually declining
Petrol Cars:
✔ Lower initial costs
✕ No government incentives to get a petrol car
Operating Costs
EVs:
✔ Cheaper to charge an EV than refuel a petrol car (especially if using a home charger)
✕ Less repair bills due to less maintenance requirements (e.g. fewer fluids, no engine oil, simpler braking systems)
Petrol Cars:
✕ Fuel more expensive than recharging
✕ More frequent maintenance (oil changes, spark plugs, exhaust systems etc.)
Example Cost Per Mile
Seat Leon (Petrol): £1,500 for every 10,000 miles travelled / £4,500 for 30,000 miles travelled
MG5 EV (Electric): £398 for every 10,000 miles travelled / £1,194 for 30,000 miles travelled
Performance
EVs:
✔ Smoother, more silent drive
✔ Faster acceleration and 0-62mph times
Petrol Cars:
✔ ‘True’ driving experience with revs and engine noises
✔ High-performance petrol cars can still rival or exceed EVs in speed and handling
Range
EVs:
✕ Usually have a shorter range per charge compared to petrol cars, though this is improving with newer models
Petrol Cars:
✔ Often longer range per tank than a fully-charged EV battery
Charging / Refuelling
EVs:
✔ Can conveniently charge at home
✕ EV charging infrastructure is increasing, but still less widespread than petrol stations
✕ Charging times range from 30 minutes (fast charging) to several hours
Petrol Cars:
✔ Instant ‘fill up and go’ refuelling
✕ Can’t refuel at home
✕ Stinky petrol pumps
Longevity and Battery Life
EVs:
✔ Battery life varies, but generally 8-15 years on average
✔ Recycling and second-life uses for EV batteries becoming more common
Petrol Cars:
✔ Engines and components can last for decades with proper care, though fuel efficiency can decline over time
Future Outlook
EVs:
✔ Increasing in numbers as governments push for clean energy solutions and phasing out petrols and diesels
✔ Battery range and charging infrastructure will continue to improve
Petrol Cars:
✔ Still dominant in markets where EV infrastructure is limited
✕ Facing decreasing popularity in regions with strict emission regulations
✕ New petrol cars will be phased out by 2035
What About the Actual Driving Experience?
The feel of the clutch, the beating of the revs, the exhilaration that comes with a proper engine ...
Things that you simply do not get with the silent, spaceship-like drive of an EV.
Or do you?
Sort of, actually, as there's certain products you can buy for your electric car which simulate some old-fashioned 'vroom' and engine noises of a traditional internal combustion engine.
Whether that's quite as thrilling as the real thing . . . well, we'll leave you to decide.
Is There a Difference in Car Insurance Prices?
Typically, insuring an electric car is more expensive than insuring a petrol car, but not by a great deal.
This is simply due to the fact that electric cars have a higher value than petrol cars, making them more expensive to replace in the event of a write-off. Claims for EVs are 25.5% more expensive, whilst their repair times can be up to 14% longer.
Worth noting that insurance costs for petrols and diesels isn't exactly much better, so you're never going to get 'cheap' insurance. In fact, prices went up across the board most recently. This is due to a number of reasons, including longer vehicle loan durations, a decline in insurers' investment returns and higher prices for spare parts and used cars.
What is the BiK Rate for Electric Vehicles vs Petrol?
Electric vehicles (EVs) benefit from lower BiK rates compared to petrol or diesel vehicles because of their lower emissions and environmental benefits. The government is keen to encourage the transition to cleaner, more sustainable transportation.
BiK Rates for Electric Vehicles (EVs) vs Petrol Cars
The benefit-in-kind rates for electric vehicles is better (i.e. lower) than the equivalent rate for petrol and diesel vehicles.
For the tax year 2024/25:
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The BiK rate for fully electric vehicles (zero emissions) is set at 2% of the car's list price. This is a significant reduction compared to previous years, where the rates were slightly higher, but still much lower than those for petrol or diesel vehicles.
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This rate applies to both fully electric and hydrogen-powered vehicles.
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From April 2025, the BiK rate for EVs will increase by 1% every year until it hits 7% in 2028.
BiK Rates for Petrol (and Diesel) Vehicles
For the same tax year (2024/25):
The BiK rate for petrol vehicles depends on the CO2 emissions. The rates start from 15% for cars with CO2 emissions of 0-50g/km and increase based on emissions.
For example, cars emitting 51-75g/km CO2 have a BiK rate of 16%, and those emitting more CO2 will see progressively higher rates, going up to 37% for cars emitting more than 180g/km of CO2.
How Does Road Tax Compare?
Up till now, drivers of electric cars had the advantage here, because although you still had to apply for road tax, you didn't have to pay for it.
But from April 1, 2025, if you're a driver of an electric vehicle, you will now have to pay for road tax. And if your EV has a retail cost of £40k or over, you'll also be liable to pay the Expensive Car Supplement. The current cost for that is £410 per year for 5 years following the first year of the vehicle’s registration.
And why the change? Well, the government realised more and more people were making the switch to EVs, which meant they were receiving less and less money in road tax. So it was bound to happen eventually.
Plug-in Hybrids – The Best of Both Worlds
These combine a petrol or diesel internal combustion engine with an electric motor and a rechargeable battery. The electric motor powers the vehicle for shorter trips, and then the petrol or diesel engine kicks in for longer distances.
Unlike standard hybrid vehicles, which rely solely on the engine or the electric motor for propulsion, PHEVs can be plugged into an electrical outlet to charge their battery, allowing them to drive short distances on electric power alone.
PHEVs still qualify for government tax incentives and lower BiK rates, but not as low as fully-electric cars.
Summary
There's a lot to be said for both electric and petrol cars, but if sustainable driving, cheap running costs and all-round increased performance are high in the priority list, then you can't really go wrong with an electric vehicle. And if so, you might want to check out our electric car lease deals.
They're the future, people.
FAQs
Are electric cars better than petrol?
It's hard to say whether electric cars are strictly speaking better than petrol cars, but when you compare running costs, they're definitely cheaper to run, especially with a home charger. And it's a greener, more sustainable way of driving.
Is it cheaper to run a car on electric or petrol?
It's usually cheaper to run an electric car than a diesel or a petrol car, even if they cost more to buy or lease upfront, so you win in the long-term.
Do petrol cars last longer than electric?
Electric cars can last up to twice as long as petrol cars with proper maintenance. Assuming regular use, the average lifespan of a petrol car is 150,000 miles or 8 years, whilst for EVs it's 200,000 miles or 12 years. That's due to their more efficient and advanced mechanics, such as having fewer moving parts, less maintenance needs, and less brake wear.
Is there any car with EV and petrol?
Yes, they're called plug-in hybrids (PHEVs). These type of hybrid cars combine an electric motor with either a petrol or a diesel engine. The electric motor will power the car for shorter journeys, after which the petrol or diesel engine will kick in and take over.