Electric Vehicle (EV) Cost of Ownership  

How Much Does It Cost To Own An EV?

Electric vehicles are quickly becoming some of the most popular vehicles on the road due to the ease of use and ownership that they provide. The upfront investment that an EV requires is usually around the same price as a comparably equipped gasoline vehicle, if not slightly more expensive. This added upfront expense is quickly negated though, as EVs are typically much less expensive to own.

The first place that your EV will save you money is at the pump. Electric vehicles don't require gasoline, and with rising gas prices, this will leave a lot of dough in your wallet. Electricity is not free, but when you compare how much it costs to charge an EV to how much a tank of gas is, the winner is clear. The only negative is that fully charging your EV will take more time than going to the gas station, but this can be negated completely with proper planning.

Another place your EV will save you money is with repairs. EVs are generally very reliable as they have very few moving parts. They also require less scheduled maintenance than gasoline vehicles and typically come with generous powertrain warranties from the factory.

An often overlooked way that your EV will save you money is with depreciation. EVs hold their value incredibly well, and some are even going up in value as gas prices soar. EVs typically come with top-of-the-line safety and tech features as standard. These features are great to have when you are driving the vehicle, and they make the vehicle more attractive when the time comes to sell it.

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

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