Hyundai Ioniq Electric running costs
|Insurance group||Warranty||Service intervals||2018/19 company car cost (20%/40%)|
|16E||60 months / unlimited miles||12 months / 10,000 miles||£784.94 / £1,569.88|
At a whisker under £30,000, the cheapest Hyundai Ioniq Premium trim is still a pricey purchase, albeit the cost is mitigated by the Government’s plug-in car grant, which knocks £3,500 off the list price.
That said, £26,000 is still a lot to pay for a compact family car, and the Ioniq looks even pricier in Premium SE guise. The newer, second-generation Nissan Leaf starts closer to £21,000 after the grant has been applied, as does Hyundai’s own Kona Electric SUV. Both must look appealing to anyone considering putting an Ioniq on the drive.
Other rivals including the Volkswagen e-Golf and BMW i3 cost more again, but Hyundai can’t match the desirability of either of those German badges.
The two trim levels in the Ioniq range don’t have any bearing on the car’s efficiency, as they both run on the same wheels plus have the same power and very similar specifications.
With zero-rated tailpipe emissions the Ioniq Electric benefits from London Congestion Charge exemption, and the Benefit-in-Kind (BiK) tax rate of just 13% for company-car drivers is extremely attractive, too.
Hyundai Ioniq Electric insurance group
The Ioniq Premium and Premium SE have insurance group ratings of 16 and 17 respectively. These compare favourably to the Volkswagen e-Golf and BMW i3, which are group 20 and 21. The Nissan Leaf is also in group 21, which is a reflection on its greater performance.
The Hyundai Ioniq can’t match the seven-year/100,000-mile warranty of the Kia Soul EV, but it comes close with a five-year/unlimited-mileage warranty deal. Hyundai goes a year further with its excellent battery warranty, however, as this runs for eight years or 125,000 miles.
While maintaining your Ioniq won’t break the bank, it’s worth considering that only 27 Hyundai dealerships are currently able to service the Ioniq Electric in the UK.
Road tax, or Vehicle Excise Duty, for electric vehicles is currently free, and the Hyundai Ioniq is no exception.
Our experts predict the Hyundai Ioniq Electric will do rather well come resale time, with expected residual values of around 55% of the purchase price at three years and 36,000 miles. That’s pretty impressive when you consider the e-Golf is expected to retain only 45% of its new cost after three years.