Many of our customers are interested in buying electric vehicles, but they don't know about the long-term cost of ownership. After all, electric vehicles, or EVs, are generally more expensive than traditional gasoline-powered vehicles, so many are wary about purchasing one. Fortunately, when you do consider the cost of ownership, modern electric vehicles come out ahead of their more traditional counterparts. Here are a few reasons why.
Fuel Savings
Of course, the biggest reason to invest in an electric vehicle is the amount of money you can save on fuel. In fact, when you do most of your fueling at your home (as most EV owners do), you can expect to save anywhere from $800 to $1,000 a year in fueling costs.
Maintenance and Repair
Since electric vehicles have fewer moving parts and rely less on the fluids that gasoline-powered models do, they don't cost as much to maintain. They still require some maintenance, but you can expect to pay about half as much in upkeep and repairs over the course of your vehicle's lifespan.
Depreciation
Research from Consumer Reports suggests that new electric vehicles maintain their value as well as or better than comparable gasoline-powered vehicles, especially now that many of them can drive distances of up to 200 miles on a single full charge. Their value still depends on their make and model and how well they are maintained, but overall you can expect less depreciation when you own an electric vehicle.
If you want to learn more about whether an EV may be right for you, feel free to contact our dealership here in Decatur. 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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