Hyundai Ioniq 5 cost to own in the UK — the true 5-year total
The Hyundai Ioniq 5 starts at £47,000. Over 5 years, owning one (EV) costs about £48,620 in the UK as of August 6, 2026 — £810/month, £0.81/mile — including depreciation, charging (with the ~12% charging loss most calculators ignore), maintenance, insurance, financing and VED. That's £3,168 less than a comparable Mercedes-Benz GLC 220d 4Matic AMG Line over the same 5 years.
Hyundai Ioniq 5 incentives & grants
UK Electric Car Grant: up to £3,750 off the price of an eligible new EV (RRP ≤ £37,000, applied by the dealer). Shown for reference; not included in the totals above. Source: GOV.UK Electric Car Grant.
Hyundai Ioniq 5 · UK · 5-year estimate£48,620 total · £810/mo · £0.81/mi
Where the money goes
| Cost component | Electric · Hyundai Ioniq 5 | Hybrid · Mercedes-Benz GLC 220d 4Matic |
|---|---|---|
| Depreciation (estimated) | £29,140 (60%) | £25,928 (50%) |
| Charging / fuel | £5,925 (12%) | £9,290 (18%) |
| ↳ of which charging loss | 12% (~£711) | — |
| Maintenance | £1,500 (3%) | £1,998 (4%) |
| Insurance | £2,780 (6%) | £2,625 (5%) |
| Financing interest | £8,275 (17%) | £9,188 (18%) |
| Registration & fees | £1,000 (2%) | £2,760 (5%) |
| Total cost of ownership | £48,620 | £51,788 |
Hyundai Ioniq 5 specs & assumptions
- Starting price (RRP)
- £47,000manufacturer
- Powertrain
- Electric
- Efficiency
- 25.6 kWh/100miWLTP
- Range
- 354 miWLTP
- UK electricity
- 26.11p/kWhOfgem
- Annual miles (assumed)
- 12,000UK average
Road tax (VED) for EVs 2026
VED on the Hyundai Ioniq 5 is £200/yr — the flat standard rate EVs now pay — and it is included in every total on this page. Source: GOV.UK vehicle tax rates.
Cost to charge the Hyundai Ioniq 5 at home
The Hyundai Ioniq 5 runs about £7.60 per 100 mi at home — versus about £17.42 for a typical 40 mpg petrol car. Home charging only (the ~12% AC charging loss is included); public DC fast-charging is billed per session by each network — often 2–3× the home rate — and isn't in these figures.
- Per 100 mi at home
- £7.6025.6 kWh/100mi + 12% charging loss × £0.26/kWh
- A typical 40 mpg petrol car
- £17.42/100miat £1.53/litre — for comparison
Compare the Hyundai Ioniq 5 against any car, your mileage & your scenario
What the numbers say
The Hyundai Ioniq 5 costs about £48,620 to own over 5 years in the UK — £810/month, £0.81/mi at 12,000 mi/yr — and depreciation is the biggest line: £29,140, 60% of the total (as of August 6, 2026).
- The Hyundai Ioniq 5 edges it — a real £3,168 saving over 5 years, though small enough that your own annual distance and home tariff decide it.
- The Hyundai Ioniq 5 pulls ahead of the Mercedes-Benz GLC 220d 4Matic AMG Line if you drive more than about 2,000 mi/yr.
- Where the Hyundai Ioniq 5's £48,620 actually goes: depreciation £29,140 (60%), financing interest £8,275 (17%), charging £5,925 (12%), insurance £2,780 (6%), maintenance £1,500 (3%), registration & fees £1,000 (2%).
- Per mile, that is £0.49 of depreciation and £0.10 of charging, with £0.23 for everything else — £0.81/mile all-in.
- Charging vs the fleet: at £5,925 over 5 years the Hyundai Ioniq 5 sits within £255 of the £5,670 median for the 27 EVs we price — nothing unusual either way.
What we assume for maintenance
Assumed £300/yr for an EV at 12,000 mi/yr — about £1,500 of the 5-year total above. On this market's assumptions an EV runs about £150/yr less in maintenance than a petrol car (£300 vs £450). See the methodology for sources; adjustable in the calculator.
Hyundai Ioniq 5 battery — replacement cost & lifespan
Most EVs never need a battery replacement inside the manufacturer's battery warranty, so this is not in the 5-year total above — but it's the cost buyers ask about most, so here it is transparently. US-sourced replacement pricing (recharged.com); local pricing varies.
- Out-of-warranty replacement
- US$11,500–US$16,500US-sourced estimate
- Battery warranty (US terms)
- 10 yr / 100,000 mimanufacturer · local terms may differ
- Typical lifespan
- ~15 yrindustry est.