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Cutting the cost when you make the switch to electric

With fluctuating prices for petrol and diesel at the pump, along with changes in the cost of energy, it has become harder to estimate the running costs of an electric car compared to one with a traditional internal combustion engine. A high proportion of people fund a new car purchase with finance, adding further complexity in fully understanding exactly what you’ll be paying and the potential savings available when you make the switch to electric.

Individual factors and choice of car will play a part, however, to demonstrate we have selected a like-for-like comparison between a petrol Audi Q3, and an electric Audi Q4 e-tron.

Finance costs – 3 years, 10,000 miles per annum

Q3 35 Black Edition S tronic with Tech Pack Q4 e-tron 40 Black Edition with Tech Pack
£5,000 deposit £5,000 deposit
£588 per month £599 per month
9.9% APR Representative 4.9% APR Representative
83p per mile (deposit & monthly payments) 84p per mile (deposit & monthly payments)

 

Running costs per month

Q3 35 Black Edition S tronic with Tech Pack Q4 e-tron 40 Black Edition with Tech Pack
£50 road tax £0 road tax
£108 fuel £51 Electricity
£92 maintenance £62 maintenance
30p per mile 14p per mile

 

Total cost per mile

Q3 35 Black Edition S tronic with Tech Pack Q4 e-tron 40 Black Edition with Tech Pack
113p per mile 98p per mile

 

In this example, the total cost of running the Q4 e-tron works out to be 15p less per mile than the equivalent petrol Q3, equating to £6,000 over the 4-year, 40,000-mile term. The decision to make the switch to electric will vary by individual, including whether you intend to keep the car beyond its initial finance term, but in many cases an electric model won’t just be the green choice, but the financial choice as well.

Our team of sales specialists is available to guide you through the process of choosing your next Audi and help you understand how an electric model would suit you. We hold Electric Vehicle Approved (EVA) accreditation, a scheme developed by the National Franchised Dealers Association (NFDA) to recognise retailers’ excellence in the electric vehicle sector. EVA is endorsed by the Government’s Office for Zero Emission Vehicles (OZEV) and Energy Saving Trust.

To find out more, call us on 01202 983727 or use Audi’s online tools.

 

> Finance calculator

> Running cost calculator

 

Representative Finance Example for Q3 35 Black Edition S tronic with Tech Pack Audi Solutions Personal Contract Plan

Duration: 49 months 48 monthly payments of £587.85 Customer deposit: £5,000 Retail cash price: £43,605 Offer contribution: £750 Acceptance fee: £0 Optional final payment: £21,137.50 Option to purchase fee: £10 Total amount payable: £54,364.30 Total amount of credit: £37,855 Representative APR: 9.8% Rate of interest: 9.83% fixed Annual mileage: 10,000 miles Excess mileage: 8.4p per mile inc. VAT

Representative Finance Example Q4 e-tron 40 Black Edition with Tech Pack Audi Solutions Personal Contract Plan

Duration: 49 months 48 monthly payments of £598.49 Customer deposit: £5,000 Retail cash price: £56,230 Offer contribution: £2,000 Acceptance fee: £0 Optional final payment: £24,106.25 Option to purchase fee: £10 Total amount payable: £61,093.77 Total amount of credit: £45,980 Representative APR: 4.9% APR Rate of interest: 4.85% fixed Annual mileage: 10,000 miles Excess mileage: 17.3p per mile inc. VAT

 

Disclaimer: Comparison data provided by cap-hpi. The information provided is for guidance only and should not be relied upon. Data is subject to change, so we therefore advise you to investigate the figures to ensure they are up to date. Fuel and Energy costs reflect a monthly UK average. Please input your own figures for the most accurate calculations based on your situation.

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Ocean Automotive Limited is an Appointed Representative of Automotive Compliance Ltd, who is authorised and regulated by the Financial Conduct Authority (FCA No 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows Ocean Automotive Limited to act as a credit broker, not as a lender, for the introduction to a limited number of lenders and to act as an agent on behalf of the insurer for insurance distribution activities only.

We can introduce you to a selected panel of lenders, which includes Volkswagen Financial Services. An introduction to a lender does not amount to independent financial advice and we act as their agent for this introduction. Our approach is to introduce you first to Volkswagen Financial Services who are usually able to offer the best available package for you, taking into account both interest rates and other contributions. If they are unable to make you an offer of finance, we then seek to introduce you to whichever of the other lenders on our panel is able to be make the next best offer of finance for you. Our aim is to secure the best deal you are eligible for from our panel of lenders. Lenders may pay a fixed commission to us for introducing you to them, calculated by reference to the vehicle model or amount you borrow. Different lenders may pay different commissions for such introductions, and Volkswagen Financial Services also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. But any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement, all of which are set by the lender concerned. If you ask us what the amount of commission is, we will tell you in good time before the Finance agreement is executed. All finance applications are subject to status, terms and conditions apply, UK residents only, 18’s or over. Guarantees may be required.

At the end of the agreement there are three options: i) retain the vehicle: pay the optional final payment to own the vehicle; ii) return the vehicle; or iii) replace: part exchange the vehicle, finance subject to status. Available when purchased on Solutions Personal Contract Plan. Deposit contribution is available when purchased on Solutions Personal Contract Plan. Retail Sales only. +Subject to agreed annual mileage. Excess mileage apply. Offer available for vehicles ordered between 3rd January and 31st March 2024. Further charges may be payable if vehicle is returned. Offers are not available in conjunction with any other offer and may be varied or withdrawn at any time. Available to 18's and over. Subject to availability. Terms and conditions apply. Finance subject to status. Accurate at time of publication [2nd January 2024]. Freepost Audi Finance.

General Finance Terms and Conditions. Please note you will not own the vehicle outright until all payments are made. If you default on your finance payments, then the vehicle may be repossessed by the finance provider. You must be 18 years or older to apply for finance. Finance is not guaranteed, and any finance application is subject to a credit check and individual circumstances. If you require any further information please do not hesitate to contact us. The finance provider will have their own Terms and Conditions, please contact them directly for further information.

For information relating to the tyre efficiency of new Audi models, please visit: https://www.uk.audi.com/uk/web/en/models/eu-tyre-label.html