Electric cars are more eco-friendly than gas-powered cars. However, when you look into the cost of owning an electric car, it can seem like a daunting task. This is because the EV is expensive to purchase and maintain. It's essential to understand the costs to determine if it will be worth it for you or not.
You will have to make many choices throughout your car ownership, including when to buy, how much it will cost to run, how many miles you drive, how it can be maintained, and what type of repairs you should expect when the time comes.
Fuel Savings
The cost of owning an EV is not just the purchase price. It's also the cost of charging, maintenance, and repairs. The average new car has a gas tank capacity of about 17 gallons. However, driving an electric car on a single charge can take hours to drive to your destination. The average electric car driving range is around 40-70 miles. That means, if you're using a charger and driving it regularly, you're spending almost $100 monthly on gasoline and electricity.
Maintenance And Repair
There's no doubt that electric cars are maintenance-free. However, this doesn't mean you won't have to pay for any repairs. Getting a new battery in an EV can be extremely costly. This is because the batteries in an EV are still new, and not many people have had to replace them. This means a replacement battery will cost more than $5,000, and that's just a low-end estimate.
Depreciation
Electric cars depreciate faster than gas-powered cars. This is because electric vehicles are still new, so they haven't been around long enough for people to want them. Most of the price of an electric car is the batteries that power it. Compared to gas-powered cars, the battery makes up 30% of the cost of an EV.
If you want to learn more about whether an EV may be right for you, feel free to contact our dealership here in Richardson. 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.
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