There are many who are thinking of changing to an EV and many promotions say that owning an EV will save you money. However, is it really cheaper than owning a petrol car? Here is a financial overview of the cost of owning a Nissan Leaf in Singapore. I hope this will help you with estimating the amount you will spend when you purchase an Electric Car.
Overview
Let’s first state my habits, usage, and any variables when purchasing a car. First, let’s talk about the vehicle. I bought a 2018 Nissan Leaf and which cost $118000 back in Feb 2021.
With insurance costs amounting to $2000 per annum and road tax of $1200 per annum, it is generally a more expensive car as compared to a petrol vehicle. I’ve listed prices before NCD discounts etc for simplicity. Season parking comes in at $1140 per annum at my HDB flat and charging cost $
| Cost(monthly) | Cost(Yearly) | Remarks | |
| Insurance | $166.70 | $2000 | Great Eastern |
| Road Tax | $100.00 | $1200 | LTA |
| Vehicle Costs | $2k | $ | (120k+interest) |
| EV Charging | $ | $ | Mileage 80 km/day |
| Parking | $95 + others | $1140 | Season + Miscellaneous |
| Maintenance | $133+216+60 | $500~ | 12V Batt / Servicing / |
With the rough cost listed above, we hope you can compare this to your current vehicle costs and consider getting a Nissan Leaf or an EV in general. Do note that these costs will go up exponentially when you get a more powerful EV (Dual Motors) as the cost of tax for these vehicles usually is double the cost in Singapore.
We also need to address an issue with using public chargers is that prices have been increasing at a rapid rate at these chargers as operators are looking to turn in a profit from these charging stations. Do consider that prices will continue to increase as electricity prices increase are inevitable. Hope to see you at an EV charger soon!
