Electric vehicles are becoming more popular every day. More people are seeing the benefits of owning an EV, and the demand for these vehicles is steadily increasing. As the world becomes more aware of the potential environmental benefits of electric vehicles, their popularity will likely continue to grow.
The cost of ownership for an EV can be divided into two main categories: fuel and maintenance costs. The purchase price of an EV can be higher than a comparable gasoline car, but the fuel and maintenance savings can quickly offset this initial investment.
Fuel Savings
Electricity is much cheaper than gasoline. EV owners can save money on fuel costs. Estimations calculate that electric vehicles save you four times more to operate than gasoline cars. It means that after a year, an EV can save its owner $800 to $1,000 in fuel costs.
Maintenance Savings
Electric vehicles also have lower maintenance costs than gasoline cars. It is because EVs have simpler designs and fewer moving parts. An EV doesn't have spark plugs, oil changes, or tune-ups. EVs can save their owners about $4,600 over their life in maintenance costs.
Depreciation
Electric vehicles depreciate better than gasoline cars. EVs are newer technology and have a longer life span. An EV can retain its value better than a gasoline car.
If you want to learn more about whether an EV may be right for you, feel free to contact our dealership here in Springfield. 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.
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