Electric Vehicle (EV) Cost of Ownership  
 

A recent study from Consumer Reports found that electric vehicles (EVs) offer savings over traditional gas-powered cars. The study looked at the cost of ownership for both vehicles over time and found that EVs are cheaper to own in almost every single category.

Here are some of the key findings from the study:

Fuel Savings

The most significant saving that comes with owning an EV is fuel costs. Gasoline prices have risen recently, while electricity prices have remained relatively stable. It means that EV owners are saving money every time they charge up their cars.

The Consumer Reports study found that EV owners would save an average of $800 to $1000 fuel costs annually compared to gas-powered car owners.

Maintenance Savings

Electric vehicles also have far fewer moving parts than gas-powered cars. It means they require less maintenance. The Consumer Reports study showed that EV owners would save an average of $4,600 on maintenance and repair costs over the vehicles' lifetime.

Depreciation

Depreciation is another area where electric vehicles come out ahead. Because they are a relatively new technology, EVs hold their value better than gas-powered cars. The Consumer Reports study found that EV owners' vehicles don't depreciate at the same speed they age. Reputation, class, and features impact the depreciation of your car.

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.