Renault ZOE running costs
|Insurance group||Warranty||Service intervals||2019/20 company-car tax cost (20%/40%)|
|18-19||3 yrs / 100,000 miles||1 yr / 18,000 miles||From £910.88 / £1,821.76|
Running costs vary depending on whether you lease or buy the battery, of course, but even so the ZOE is very affordable, even by electric-car standards. The battery-included model is good value if you buy it on finance, but on-the-road prices can look rather high and well into the price territory of the bigger, more grown-up Nissan Leaf.
Renault estimates the ZOE will cost around 2p per mile to charge, while a full charge from the 7kW ChargeMaster home charger (that Renault will install for you) will cost around £3.
Company-car costs are low, falling into BiK tax band 13% for the 2018/19, 16% for 2019/20, and a miserly 2% for 2020/21 tax years. That translates to £100-120 a month for the next couple of years for a 40% taxpayer, and then just £15 a month after that.
Do your homework on finance costs for buying the ZOE with its battery included, particularly if you plan on doing higher mileage, as it could work out cheaper that way than opting for the cheaper car and paying the lease costs on top.
Renault ZOE insurance group
The ZOE falls into insurance groups 18 or 19, which is roughly on a par with petrol or diesel small cars like the Renault Clio. Since many electric-car drivers do low mileage, limited-mileage policies are another way to save a bit on insurance.
The ZOE has a three-year, 100,000-mile warranty, while the electric drivetrain (not the same as the battery) is covered for five years and 100,000 miles. You also get three year’s roadside assistance, or if you lease the battery, you get roadside assistance for as long as your lease contract runs.
Renault offers a fixed-price ‘EasyLife Pack’ that costs £100 and covers servicing for three years - and it’s transferable if you sell the car. The price shoots up to £400 to extend the servicing and warranty to a fourth year. A service is required every year or 18,000 miles, whichever occurs first – which seems rather over-cautious given the longer service intervals of most electric cars.
Electric cars are exempt from road tax, and you also get free entry to the London Congestion Charge zone (and any other such zones that may be introduced in the coming years).
Depreciation is a weak point in the ZOE’s otherwise impressive financial case, as it loses value faster than most other electric cars. There are examples that have lost 60% or more of their new value in three years, while the Nissan Leaf tends to hold onto a bit more of its value.