Electric Vehicle (EV) Cost of Ownership  
 

As electric vehicles (EVs) become popular, more people want to know how much they can save. They offer many advantages over traditional gas-powered cars. One of the biggest reasons to switch to an EV is the significant cost savings you can achieve over time with your vehicle.

According to a recent study by Consumer Reports, electric vehicles cost about less per year to operate than gas-powered cars. When factoring in maintenance, insurance, and registration, EVs are still cheaper to own per year.

The cost of charging an EV is also much cheaper than gasoline. It means that EVs are significantly cheaper to operate on a per-mile basis.

Fuel Savings

Electric vehicles offer substantial fuel savings over traditional gas-powered cars. For example, a typical EV can go about 4 miles per kilowatt-hour (kWh), while a gas car gets only about 0.25 miles per gallon (mpg). It means EVs can travel the same distance as a gas car on just one-sixth of the fuel. It saves you up to $1,000 per year.

Maintenance Savings

Electric vehicles also require less maintenance than gas-powered cars. For example, they have no oil changes or tune-ups required. It can save EV owners $4,600 over the life of the vehicle.

Depreciation

Electric vehicles also hold their value better than gas-powered cars. It is due to the high demand for EVs and the fact that they are still a relatively new technology.

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