Electric Vehicle (EV) Cost of Ownership  
 

Although many consumers like the idea of buying an electric vehicle, they aren't always sure if the long-term cost of ownership is worth it. If you're not sure whether or not to purchase an EV, you'll be happy to learn that owning one instead of a comparable gasoline-powered vehicle could save you money in the long run. Here's why.

Fuel Savings

As you could probably guess, driving an electric vehicle instead of something powered by gasoline will save you money on fuel. According to research from Consumer Reports, EV owners who do most of their fueling at home save between $800 and $1,000 per year on fuel over those who drive traditional vehicles.

Maintenance and Repairs

Research also suggests that it is less expensive to maintain and repair an electric vehicle than a gasoline-powered car. EVs are less complex mechanically, so owners don't have to contend with the same kind of wear and tear that they would if they were driving more traditional vehicles. Overall, they can expect to spend about half as much money on repairs throughout the lifespan of their electric vehicles.

Depreciation

Newer electric vehicles may also maintain their value as well as or better than comparable gasoline-powered vehicles, especially now that many are capable of driving up to 200 miles on one full charge.

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.


 
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