Electric Vehicle (EV) Cost of Ownership  
 

Many people have been considering making the switch to an Electric Vehicle (EV). One thing that may make people hesitate is the uncertainty about the future costs of ownership. Consumer Reports has researched this issue, and they have found that an EV does quite well in comparison to traditional gas-powered vehicles.

Fuel Costs

The rising costs of fuel are a major concern for many. An EV that is charged at home primarily will save buyers an average of $800 to $1,000 per year.

Maintenance & Repairs

Another major expense associated with car ownership is maintenance. Since an EV does not require as much work to maintain, such as fluid changes, it will cost less over its lifespan. In fact, a buyer can save $4,600 total, which is half the estimated costs of a traditional vehicle.

Depreciation

Analysts working for Consumer Reports found that the newer long-range EVs hold their value quite well. In fact, they do just as good, if not better, than a gas-powered car. This is especially true of vehicles that have a range of 200 miles or more. Naturally, several factors will impact the depreciation of a vehicle. Examples include the reputation of the brand, the features, and the class.

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


 
Categories: Technology, EV, News, Green