Electric Vehicle (EV) Cost of Ownership  
 

Many have wondered if buying an electric vehicle is worth the long-term cost of ownership. Fortunately, they will be happy to learn that buying an electric vehicle or EV might actually save them money in the long run.

Fuel Savings

With the high cost of gasoline right now, drivers are looking to save money in any way that they can on fuel. Since EV owners do most of their fueling at home, they often save between $800 and $1,000 a year on fuel over owners of gasoline-powered cars.

Maintenance and Repair

EVs do require maintenance to keep running, but they are also less mechanically complex than traditional vehicles. This means they require less maintenance and fewer repairs on average. In fact, EV owners save an average of $4,600 in repair costs every year throughout the lifespan of their vehicles over those who drive equivalent gasoline-powered vehicles.

Depreciation

While an electric vehicle will depreciate as it is driven, it will likely maintain its value longer than many gasoline-powered vehicles. Again, this is because they are less mechanically complex and aren't as vulnerable to the same kind of wear and tear as traditional cars.

Even though electric vehicles are generally more expensive initially than other vehicles, the long-term costs of ownership can make buying one a sound investment. If you're interested in an electric vehicle for yourself, contact our dealership today. We will be happy to answer any questions that you might have.

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