How much does an electric car cost

Thinking of driving electric? Welcome to the club - with a fantastic, futuristic, and increasingly affordable range of EVs now on the market, it’s a decision you won’t regret.

But, we know how important it is to budget ahead of any big financial decision, and we’re here to help!

We’ve pulled together a list of useful average and estimated costs, all pulled from diverse (and reputable) sources. Just bear in mind that the actual cost of your EV will depend on what kind of EV you look at - whether that be a funky little Renault 5, a glamorous next-gen BMW iX3, or something in between.

So, use the figures below as a rough guide, rather than gospel.

In 2025, the average list price of an EV is around £46,000. The average monthly payment for an EV on lease is around £450 (though prices start at £250 per month) - all depending on model, spec, and mileage. 

Averages can be misleading, though. Here’s how those figures look when broken down across different parts of the EV market:

Though the average seems quite high, EVs are rapidly becoming more affordable, helped by increased competition, new models under £20k, and strong government support, like the Electric Car Grant Scheme.

So, you’ve got your EV in mind, but the next cost on your mind is charging costs… 

Long story short: it depends where, when, and how you charge. 

(Pssst…new to charging? Our EV charging guide is a great place to start).

Most EV charging is done at home, by connecting your EV to a wallbox charger. It’s convenient, it’s easy, and importantly, it’s cheap – with a specialist EV tariff like Intelligent Octopus Go, you could charge during off-peak hours for as little as 3p per mile. 

Public charging will set you back a little more – up to 19p per mile depending on the charger you use, according to 2025 figures from the AA. But, with today’s EVs boasting an average range of 250 miles (enough to get you from London to Paris), chances are you won’t need to rely on public chargers too often.

How do these figures map out in real life? It’s time for another handy reference table! 

Remember – these are estimates. They are not exact, but should give you a good ballpark figure to work with. 

Public charging figures taken from the AA EV Recharge Report, June 2025, and are an average of peak and off-peak rates.

Charging cost calculation: range x cost per mile

Top tip: Get extra discounts on public charging and home charging as an Octopus EV driver with EV Saver.

The industry average for home charger (equipment and installation) in 2025: £1,100. 

Octopus EV’s average: £899 – a welcome £201 less. And, we often run promotions for discounted or free home charger installation throughout the year! Keep your eyes peeled…

In short - EVs have fewer parts, and fewer parts = less maintenance.

Whilst ‘general’ average figures are tricky to come by (model-dependent, and will vary with driver preferences), recent figures suggest that you’ll save £79 per year on the cost of maintaining a petrol or diesel car. 

Electric cars come with a few upfront and running costs - the car itself, charging, and (if you need one) a home charger.. But, in comparison, they tend to save you money in the long run.

And hopefully, the figures above have given you a solid idea of how much you could expect to spend leasing (or buying) and running your EV. 

Pretty reasonable, no? In fact, you could cover up to a third of a monthly lease payment with your daily coffee habit alone. Yes – we’ve done the maths. 

But, what if you want to save even more? 

Rather than looking for the absolute cheapest price out there, it’s worth shopping around for a comprehensive package with plenty of inclusions that will save you money over the entire leasing period of your car. 

Car + energy + servicing and maintenance = a recipe for savings in the long run (as well as all that time sorting things out separately). With Intelligent EV, that’s exactly what we offer. 

• An expert-picked selection of the snazziest EVs – with both new and used models available
• Access to Intelligent Octopus Go - EV Saver, an exclusive discount off-peak rate, which saves you even more on off-peak charging via Intelligent Octopus Go
• Discounts on public charging with Electroverse
• Servicing, maintenance, and road tax included as part of your monthly payment (with optional tyre add-on)
• A range of other goodies, from free coffees to £500 savings on green home tech like solar panels

And don’t forget, we also offer a salary sacrifice scheme too!