Even though a lot of people love the idea of buying an electric vehicle (EV), they have questions about the long-term cost of ownership. After all, electric vehicles are expensive, and customers want to know that they're making a wise investment when they purchase one.
If you're considering purchasing an electric vehicle instead of a comparable gasoline-powered car, you'll be happy to know that an EV will likely save you money in the long run. Here are a few reasons why.
Fuel Savings
First of all, owning an electric vehicle will save you money on fuel. A study from Consumer Reports has shown that EV owners who do most of their charging at home save anywhere from $800 to $1,000 every year on fuel over equivalent gasoline-powered vehicles.
Maintenance and Repairs
An electric vehicle will still need regular maintenance and repairs. However, it shouldn't need as much as a comparable gasoline-powered car. EVs aren't as mechanically complex, so they suffer less wear and tear than most other vehicles. Owning an electric vehicle instead of a gasoline-powered model could cut your annual cost of maintenance and repairs in half.
Depreciation
Since EVs don't have as much wear and tear, they tend to depreciate less than other cars. The amount of depreciation will depend on the make and model of your vehicle and how well you care for it, but it is likely to maintain its value longer than other cars.
If you want to learn more about whether an EV may be right for you, feel free to contact our dealership here in Austin. 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.
