Is a Hybrid Car More Affordable Than an Electric Car?

The choice between a hybrid or an electric car can be tough. Both have their benefits, as well as their downsides, so it is worth doing all of the research you can before making a decision.

 

There are more factors to consider than the price of the car itself. Here are some things you'll need to consider when it comes to affording a hybrid or an electric car.

 

Hybrid Cars

Upfront Cost

Hybrid vehicles tend to be cheaper to buy than electric vehicles, depending on the specific make and model in question. This is because they have smaller batteries than electric cars, a feature that greatly affects the price.

 

Road Tax

Unlike electric vehicles, hybrid cars will have to pay some road tax, though this will at least be for a discounted price in the first year of owning your car. As of early 2022, plug-in hybrids are exempt from the London Congestion Charge.

 

On the plus side, if you buy a used hybrid car that was registered before April 1st 2017, then you will pay no annual road tax.

 

Fuel Economy

Compared to a traditional petrol or diesel car, hybrid cars are an excellent option for those of us who tend only to drive short distances at a time. If you opt for a plug-in hybrid, then running on electric power throughout the week could save you money.

 

What’s more, hybrids tend to have a longer range compared to electric vehicles. This is because hybrids have two types of fuel which they can rely on - and these different power sources can also offer some peace of mind. As such, you are less likely to need to replace the battery in a hybrid vehicle.

 

However, the battery in a hybrid car can be heavy. This does reduce fuel economy to a certain extent when it comes to accelerating or driving at higher speeds. It is also worth bearing in mind that a hybrid vehicle may not be the best choice for you if you do intend to make longer journeys, as this will exceed the battery range capacity, and lead to more fuel top-ups as a result.

 

To save money, keep these trips short, so that you can rely more so on the electric battery. Compared to electric vehicles, these fuel top-ups are a noticeable expense. Not to mention that the battery will need to be charged more regularly, and will have less range than that of an electric car.

 

Maintenance Costs

Owing to the fact that hybrid cars have many of the same parts as a traditional internal combustion engine (ICE) vehicle, they require the same care and experience the same issues that befall petrol or diesel cars. Depending on the nature of the issue, repair and replacement costs can be a big expense for hybrid drivers.

 

Compared to petrol or diesel cars, hybrids should run into issues less quickly, as they are not solely reliant on the combustion engine.

 

However, hybrid vehicles tend to cost more to maintain than electric vehicles do. Thankfully, the dual-engine can help to alleviate potential wear and tear, so the maintenance and servicing costs can cost less than they would for a traditional ICE vehicle.

 

Electric Cars

Upfront Cost

Electric vehicles are expensive to buy, with the upfront cost being higher than that for a petrol, diesel, or hybrid car.

 

Charging Overnight

If you are able to charge your electric car at home overnight, this could cost you as little as £5 a charge. With a rapid charger, you will be able to almost entirely replenish the charge level, in a short span of time - though there are other charger speeds available.

 

Charging your car at a public charging point will be more expensive, so it is worth considering having a charging point installed at home if possible.

 

An electric car can save you more money when it comes to driving short distances. What’s more, electricity prices are generally lower than fuel prices, meaning that it could cost you less to charge your car and add this to your home electricity bill than it would to top your hybrid car up with fuel on a regular basis.

 

Compared to hybrid cars, electric vehicles can travel greater distances on electricity alone, which is another major selling point.

 

Road Tax & Insurance

You can also save money on road tax when you own an electric car. Most electric vehicles are exempt from this charge, due to the fact that they produce fewer harmful CO2 emissions.

 

This can save you from the hundreds of pounds that petrol and diesel drivers rack up over the course of a year.

 

What’s more, electric vehicles are exempt from the London Congestion Charge and Clean Air Zones, so there are benefits to being an EV driver. If you live in London, you must still register your vehicle with Transport for London to ensure you get the discount.

 

However, insurance costs tend to be more expensive for electric vehicles than for hybrids.

 

Maintenance Costs

With fewer moving parts involved, there is less that can go wrong with your electric vehicle. This means that an electric car requires less maintenance, which can make them cheaper to service.

 

Though, of course, an electric car will still require tyre and brake pad replacements when needed, as well as all the other servicing you would expect.

 

Which is More Affordable?

With all this in mind, is a hybrid car more affordable than an electric car?

 

Upfront Cost

Hybrid vehicles are generally cheaper to buy than electric vehicles.

 

Maintenance Costs

Electric vehicles tend to be cheaper to maintain than hybrid vehicles, as there are fewer working parts to take care of.

 

Running Costs

Charging your electric vehicle with electricity at home can be less expensive than topping your hybrid vehicle up regularly with petrol.

 

Road Tax

Most electric vehicles are exempt from paying road tax, the London Congestion Charge, and Clean Air Zone charges. Plug-in hybrids are exempt from paying the London Congestion Charge.

 

Insurance

Insurance costs tend to be higher for electric vehicles than for hybrid vehicles.

 

Overall, electric vehicles may be the more cost-effective option. However, you should always consider your individual situation before making a choice. If you intend to make shorter journeys in your car more regularly, then the dual-engine in a hybrid vehicle may offer added peace of mind that an electric vehicle cannot give.

 

Take into account the various costs of hybrid and electric vehicle ownership, so that you can make the best decision for you.

 

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