Smart EQ ForTwo Coupe (2014-2019) running costs
|Insurance group||Warranty||Service intervals||2019/20 company-car tax cost (20%/40%)|
|12||2yrs / unlimited miles||1yr / 12,500 miles||£676 / £1,353|
Like many electric cars, the Smart EQ ForTwo costs more to buy than the equivalent petrol or diesel model – but the savings start rolling in when you realise how much less the plug-in car costs to run. The government grant brings the Smart EQ to within around £4,500 of its petrol equivalent, and the more you drive, the quicker you’ll recoup the difference thanks to cheaper running costs.
Being an electric car, the Smart EQ ForTwo qualifies for zero road tax (Vehicle Excise Duty) and the lowest Benefit-in-Kind company-car tax rate. It’s also exempt from the London Congestion Charge, which could save you £11.50 per day if you regularly drive into the centre of the capital.
Smart ForTwo insurance groups
The EQ ForTwo falls into insurance group 12, compared to 15 for the pricier Nightsky-spec Cabrio. In any case, no ForTwo will be too costly to insure.
All new Smart ForTwo – including the EQ electric cars – get a three-year/unlimited-mileage warranty. This is the same guarantee offered by parent company Mercedes on every model from the basic A-Class hatchback to the luxury S-Class saloon. In addition, all Smart models come with a 12-year anti-corrosion warranty, covering the car’s paint and body work.
Smart EQ ForTwos run on a flexible service schedule, indicated by a light on the car’s dashboard. The type of service (minor or full) will depend on a variety of factors, including time elapsed and miles driven. You can pay for servicing using Smart ServiceCare, which breaks the overall cost down into manageable monthly payments. This can cost as little as £20 per month.
As the Smart EQ ForTwo is a zero-emissions vehicle, it's exempt from road tax (VED).
Residual values for the Smart EQ ForTwo are pretty disappointing. Official figures suggest it'll retain between 34 and 37% of its value after three years and 36,000 miles. That said, no Smart petrol model will retain more than 43% of its original purchase price, either.