Many people are interested in the possibility of owning an electric vehicle, but they are also a bit worried when it comes to dealing with the potential costs. Fortunately, information from the Consumer Reports site shows that in the end, it's cheaper than owning a more traditional car.
Saving on Fuel
The research data from Consumer Reports shows that a usual owner of an electric vehicle who mostly just fuels up at their house will generally save around $800 to as high as $1000 annually when you compare costs to a more traditional vehicle that uses fossil fuels instead. This is a significant saving already.
Costs for Repair and Long-term Maintenance
The same data from the study from CR found that the costs for maintaining and repairing an electric vehicle are considerably less than when you compare them to a gas vehicle. The reason for this is that gas vehicles need a change of fluids regularly. Traditional gas vehicles also have complicated mechanical parts to them, which are prone to failure. The savings you get with an electric vehicle comes out to about $4600 when calculated over the vehicle's full lifetime.
Costs Associated with Depreciation
The report from CR discovered that the newest electric vehicles with long ranges tend to keep maximum value for a longer amount of time than similar gas-powered vehicles. Many new EV options can go more than 200 miles on just one charge. While there is some variation between vehicles for how long each kind holds its value, EVs are a clear winner overall.
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.
