A lot of people like the idea of buying an electric vehicle, but they aren't sure about the long-term cost of ownership. After all, electric vehicles tend to be more expensive than traditional gasoline-powered cars, so it stands to reason that they will cost their owners more money in the long run, right? Well, it turns out that the opposite may be true. When you factor in the cost of ownership, electric vehicles actually come out on top over comparable gasoline-powered vehicles.
Fuel Savings
First of all, electric vehicles are far more fuel-efficient than traditional vehicles, something that is welcome in these days of higher gas prices. According to research from Consumer Reports, when EV owners do most of their fueling at home, they can save anywhere from $800 to $1,000 a year in fuel costs over gasoline-powered vehicles.
Maintenance and Repair
Electric vehicles also seem to cost less to repair than other vehicles that are more mechanically complex and require more frequent fluid changes. In fact, research suggests that EV owners spend about half as much money on maintenance throughout the lifespan of their vehicles as those who own gasoline-powered cars.
Depreciation
Finally, new electric vehicles seem to hold their value as well as or better than comparable gasoline-powered vehicles. This is especially true now that newer electric vehicles can drive as far as 200 miles on a single full charge.
There is no doubt that buying an electric vehicle is a good investment, especially now that they are becoming more affordable.
If you want to learn more about whether an EV may be right for you, feel free to contact our dealership here in Grand Prairie. If you discover you'd like to stick with a gasoline-powered vehicle, we carry a great new and used selection to accommodate your needs.
* Information source is from consumerreports.org and is for general informational purposes only. All information is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information. Under no circumstance shall we have any liability to you for any loss or damage of any kind incurred as a result from use of the posted information on this page. Your use and reliance of the posted information on this page is solely at your own risk.