Will an electric car actually save me money?

Get an insurance quote for the exact car before committing. Add road tax, servicing, tyres and breakdown cover. If you need a home charger, use a surveyed installation quote including extra work. For public charging, check parking charges, subscriptions and fees for staying connected too long.

Choose the same ownership period for each option. For a cash purchase, the loss in value is the purchase price minus what you receive when selling. That resale figure is an estimate. For a lease, compare the initial rental, all monthly rentals and any end-of-contract charges. For finance, include interest, fees and the final payment or settlement needed for your chosen outcome. Do not add depreciation on top of a lease’s payments: that would count part of the cost twice.

It may be, particularly if it is reliable and you drive relatively little. Compare what keeping it will cost from today, including likely repairs and its future loss in value. The money you originally paid is already spent. A lower charging bill alone is not a reason to take on a car payment you cannot comfortably afford.

Yes. Some tariffs trade cheaper charging hours for higher prices at other times. Compare your whole home’s electricity use, the standing charge and exit fees. Check the meter and car or charger requirements before switching. A headline overnight rate is only part of the comparison.