Electric Vehicle (EV) Cost of Ownership  
 

Although many people like the idea of owning an electric vehicle or EV, they usually balk at the higher price tag. Yes, EVs are more expensive than most gasoline-powered cars, but owning one can actually save you money in the long run. Here are a few reasons why.

Fuel Savings

Electric vehicles rely on electricity instead of increasingly-expensive gasoline, which alone makes them more affordable to drive. Research from Consumer Reports shows that EV owners who do most of their charging at home can expect to save anywhere from $800 to $1,000 a year on fueling costs over gasoline-powered vehicles.

Maintenance and Repair

EVs are less complex mechanically than traditional vehicles. They do require regular maintenance, just like any machine, but EV owners can expect to save an average of $4,600 on maintenance over the lifespan of their vehicles when they go electric.

Depreciation

Research has also shown that electric vehicles do not depreciate as quickly as equivalent gasoline-powered vehicles, especially now that they can drive as far as 200 miles on a single full charge. As with other cars, some EVs will depreciate more slowly than others, but you can expect an electric vehicle to retain its value longer than traditional cars.

When you take everything into consideration, an electric vehicle is certainly a good investment for those who can afford it. If you're interested in purchasing an electric vehicle for yourself, contact our dealership today. We will be happy to answer your questions and help you find the right EV for you.

If you want to learn more about whether an EV may be right for you, feel free to contact our dealership here in Phoenix. 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.


 
Categories: News, Green, New Technology