MINI Electric running costs
|Insurance group||Warranty||Service interval||2020/21 company-car tax cost (20%/40%)|
|22-23||3yrs / Unlimited miles||Variable||£0|
The MINI Electric is one of the most affordable pure-electric cars going. List prices start from under £25,000, which makes the cheapest 'Level 1' trim cheaper to buy than the equivalent petrol Cooper S – and it gets all of the same standard equipment, too. Not only that, but finance deals are very good, too; you can get a MINI Electric for under £300 per month with a circa £4,000 deposit, making it very competitive with the Honda e, Renault ZOE, Peugeot e-208 and Vauxhall Corsa-e.
While that lower driving range or less practical body may be deal-breakers for some, if those factors aren't an issue for you then the MINI is great value, especially for such a premium-feeling product. That's before you factor in savings on fuel, which will be significant given that the MINI will cost around £4 to fully charge on a domestic electricity tariff - or even less if you use off-peak tariffs.
MINI Electric insurance group
The MINI Electric, despite its lively performance and desirable badge, sits in groups 22 to 23, depending on specification. Unsurprisingly, the Level 1 and Level 2 cars sit in group 22, with the flagship Level 3 commanding a group 23 rating.
This is probably due to the relatively simple electric drivetrain; with fewer moving parts, there's less to go wrong, which can often result in more affordable insurance. Regardless, those numbers are quite low, especially when you consider a comparable petrol Cooper S is rated in group 28. Even the latest Renault ZOE, despite its less ‘premium’ badge, sits in groups 18-23.
Like all new MINI and BMW models sold in the UK, the Electric has a three-year/unlimited-mileage manufacturer warranty. On top of this, MINI offers an extended battery warranty as standard; this guarantees the cells for eight years or 100,000 miles, whichever comes first. While not unusual, that’s competitive in this area of the market.
MINI is offering a basic four-year service package for the Electric at £10 a month. As part of this, customers also benefit from “all the necessary fluid top-ups, one MoT, a wash and vac, plus seasonal health checks”. Buyers can bolster the package to cover servicing plus all four tyres (£20 a month), or servicing and brakes (pads and sensors, also £20 a month).
Should you want the full package, with all servicing, tyres and brakes included, MINI will charge you £30 per month – a theoretical saving of £10 per month. As the MINI Electric’s service plan is condition-based, it’s not possible to nail down service intervals. How often you need your car serviced will depend on myriad factors including your driving style and how many miles you do.
As an electric car, the MINI Electric is currently exempt from vehicle excise duty (VED). It also sits in the very lowest company-car tax band, resulting in favourable Benefit-in-Kind (BiK) tax. It’s worth noting that the 0% BiK rate for the current tax year will rise to 1% in 2021/22 and 2% in 2022/23. Regardless, the MINI will continue to fall into the very lowest bracket. All this makes it an appealing option for private buyers and those running one as a company car.