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Whether you're a seasoned EV enthusiast or a curious newcomer to the electric scene, this short guide will hopefully give you an idea about what the EV renting costs are in the UK.
Many factors affect the cost of renting an electric car, such as the location, duration, model, mileage, and additional extras that rental companies always try to upsell you.
But to give you an idea, you expect to pay anything from £99 to over £140 per day for more premium cars like Tesla Model 3 and Model Y.
Some car rental companies may offer free delivery and collection, Tesla Super Charger, or access to other charging networks like Shell Recharge.
As you can see, the prices vary depending on the type of electric car you choose and the rental company you use. You can also compare the range and the extras that each option offers.
Say you're ready to rent an EV. If you want to know how much it will cost to actually run it (in case you don't get access to free charging), you should expect the following.
According to Autocar, it should cost around £20 for a full charge of a 64kWh battery, based on the current average cost of 34p per kWh (according to the Government’s Energy Price guarantee as of the first quarter of 2023). Some more efficient cars will do between 200 and 250 miles for that price.
Other research from Which shows that a typical large-size electric car (such as Tesla Model 3) would cost around 10.8p per mile on a standard tariff or around 9.7p per mile on a reduced energy tariff (from 1 July 2023).
You can also opt for an EV charging tariff at home which will be your cheapest option. Switching a home charging tariff is easy, especially if you choose a company like Octopus, and you can expect to pay sub 10p per kWh.
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Renting an EV for the long term can be expensive. Subscribing to an electric car service instead of renting one can be viable. Still, it largely depends on your specific needs and circumstances. The duration of use is a key factor to consider.
If you need a car for an extended period (say a few months), a subscription could be more cost-effective as they often offer lower rates for longer-term use than daily or weekly rental rates.
Additionally, subscriptions usually include costs like maintenance, insurance, and roadside assistance in the monthly fee, making budgeting easier. However, it's important to check what is included in each service.
Flexibility and convenience are other advantages of electric car subscriptions. Some services allow you to switch between different types of cars, which could be beneficial if your needs vary. Subscriptions often include services like vehicle home delivery, adding a layer of convenience not typically associated with traditional car rentals.
On the flip side, subscriptions usually require a longer commitment than rentals (generally at least a month or 60 days). If you only need a car for a short period or are wondering how long you'll need it, renting might be more flexible.
Also, with a subscription, you don't have to worry about the car's value depreciating over time, as you would if you bought the car. However, it's crucial to read the terms and conditions carefully, as some car subscription services may have restrictions or additional charges that aren't immediately obvious.
This is a short read, so be sure to read our in-depth guides:
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