Electric Vehicle (EV) Cost of Ownership  

Many customers love the idea of purchasing an electric vehicle. However, they tend to be curious about the long-term costs of owning one. Research done on consumers indicates that once the long-term costs of an electric vehicle are considered, the cars get out ahead. In this writing, let us focus on some of the fundamental discoveries.

Savings on Fuel

Any electrical vehicle owner who fuels their car at home can save approximately $800 to $1,000. This is every year. The owner ends up saving costs equivalent to fueling a gasoline-powered vehicle.

Upkeep and Restoration

The consumer report also shows that upkeep and restoration costs for electric vehicles are lower over the car's life. These costs are equivalently half the costs of maintaining and repairing a gasoline-powered vehicle. Most gasoline cars' money is spent on frequent liquid refills and visits to the mechanics. On average, purchasing an electric vehicle will save around $4,600.

Loss of Value

Consumer report analysts discovered that modern long-range electrical vehicles hold their value in a good way compared to gasoline-powered cars. In fact, on a single full charge, you can travel more than 200 miles with your modern electrical vehicle. All gasoline-powered vehicles lose their value. Luckily, it's not the same case with electric cars. You need to know that the automotive manufacturer's features, reputation, and class determine their depreciation rate.

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