Electric Vehicle (EV) Cost of Ownership  
 

A lot of people love the idea of owning an electric vehicle, but they often balk at the higher price tag. Yes, EVs tend to be more expensive than gasoline-powered vehicles, but when you factor in the long-term cost of ownership, they might be worth the purchase.

Fuel Savings

The best reason to own an electric vehicle is the money you will likely save on fuel. When you own an electric vehicle instead of a comparable gasoline-powered model, you could save between $800 and $1,000 a year on fuel costs, especially if you do most of your fueling at home.

Maintenance

The battery and other electrical components of an EV require little to no maintenance to keep running. The vehicles themselves also don't need as many fluid changes compared to gasoline-powered vehicles. This could effectively cut the amount of money you'll spend on maintenance over your vehicle's lifespan in half when you own an electric vehicle instead of a traditional car.

Depreciation

Research from Consumer Reports also suggests that newer electric vehicles are holding their value better than comparable gasoline-powered vehicles, especially now that they can drive much farther (up to 200 miles) on a single full charge.

Most new electric vehicles seem more expensive than gasoline-powered cars at first, but when you consider the costs of ownership, they are definitely worth your while.

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