Is switching to an EV a good financial decision?

as an under consumer I like to find the balance of consuming less to benefit both my wallet and the environment but there's one decision my husband and I have been struggling to make and that's whether or not we should switch to an electric vehicle our approach to cars has always been to never take out a car loan and buy a car that will be safe and comfortable for our family to get from A to B we don't need anything fancy or expensive to run last weekend we rented an EV to see how it fit into our family life and more importantly how it would fit into our family finances the upfront cost of an EV has put us off making the switch so far but maybe in the long term an EV might not actually be the more expensive option I like to know exactly where my money is going so I've tracked how much money we've been spending on our cars over the past couple of years and between tax services petrol and things that have inevitably gone wrong with a 10 and 13 year old car we've been averaging about 6k per year with an EV our petrol costs will disappear of course our electricity will increase but we're likely to save 50 to 60% here our car tax goes from 600 per car to 120 servicing EVs is cheaper as well as there's less moving parts no oil change and no clutch or gearbox taking this all into account I estimate that we could save about four grand a year on annual car costs which within a couple of years would pay off the upfront cost of switching to an EV and of course the added bonus is that will reduce our carbon footprint and leave the environment in a better place for our kids