Electric Vehicle (EV) Cost of Ownership  
 

EVs seem to be more cost-effective in the long run. They have lower monthly expenses than traditional cars and trucks. They also pay off after one year of ownership with their lower gasoline prices!

The report considered fuel costs, repairs, insurance premiums, and taxes. Consumer Reports found that electric vehicles come out ahead. When you look at spending over time, you may actually save money faster if taken out onto public roads.

Fuel Savings

The average EV owner who does their fueling at home save $800-$1,000 a year on fuel costs over gasoline-powered cars.

Maintenance and Repair

The study found that EVs are cheaper to maintain and repair than gas-powered cars. Gas vehicles need regular fluid changes. The average savings over the lifetime of an electric vehicle is around $4,600!

Depreciation

The report found that long-range EVs are holding their value. The report shows EVs are doing as well or better than gasoline vehicles. People rely on new models to travel more than 200 miles on a single charge. With some being able to cover up twice the distance before needing recharging! This type of vehicle also impacts its depreciation rate. Class D cars tend to see lower rates and higher values. It is due in part to how few there are. The comparison is to other classes such as A & B. These classes include hybrid options.

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