Jaguar I-Pace review: running costs & insurance
The Jaguar I-Pace is expensive to buy, but there are still some savings to be had in terms of running costs
| Insurance group | Warranty | Service interval | Annual company-car tax cost (20%/40%) |
|---|---|---|---|
| 49-50 | 3yrs/unlimited miles | 2yrs/21,000 miles | From £280/£560 |
A common misconception is that running an electric car will save you a small fortune, and while some costs are drastically lower than a petrol or diesel equivalent, there are still plenty of expenses to factor in. For starters, the Jaguar I-Pace is an inescapably expensive car for private buyers, although company car drivers can offset this cost thanks to all electric cars sitting in the lowest 2% Benefit in-Kind (BiK) tax bracket.
It’s also worth mentioning that charging the I-Pace’s huge 90kWh battery won’t exactly be cheap, either. Plugging in at home should be less expensive than filling up a gas-guzzling SUV with petrol – especially if you’re signed-up to a specific EV energy tariff – but making use of a public rapid charger can be just as, or even more expensive.
Jaguar I-Pace insurance group
The I-Pace is rated in groups 49 and 50 – the latter the same as the Tesla Model X and the highest possible insurance group, so be sure to get a quote before buying the car.
Warranty
An eight-year/100,000-mile warranty applies to the I-Pace’s battery, while Jaguar’s standard three-year/unlimited-mileage warranty covers every other aspect of the car. This can’t match the seven years of cover offered for the Kia EV6, but is still average for a premium car warranty.
Servicing
Electric motors have vastly fewer moving parts than petrol or diesel engines – we’re talking thousands fewer – so they don’t need maintenance as regularly. This is why the I-Pace only needs servicing every two years or 21,000 miles, but it’s not cheap despite the long intervals; a one-off up-front payment of around £1,000 will cover servicing for the first three years, or you can spread the cost into monthly instalments.
Road tax
As with all electric cars, the Jaguar I-Pace is exempt from road tax (VED) until 2025. It’s also exempt from the London Congestion Charge and ULEZ until the same point, too.
Depreciation
Historically, Jags have not fared all too well compared with German rivals when it comes to depreciation, and expensive electric cars don't tend to hold onto their values very well either – not exactly a good precedent for the I-Pace.
Saying that, the latest industry data suggests the Jaguar I-Pace will retain anything between 46-48% of its value over three years and 36,000 miles of ownership. In comparison, a non-M-badged BMW iX will hold onto roughly 49-56% of its asking price over the same period.
