Electric Vehicle (EV) Cost of Ownership  
 

The cost of ownership for an electric vehicle (EV) can be lower than that of a gasoline-powered vehicle, particularly when fuel and maintenance costs are considered.

Consumers may consider the idea of owning an electric vehicle. They also wonder about the long-term costs of ownership. Research from Consumer Reports shows that EVs come out on top. Especially after calculating the total cost of ownership. Here are some of the ways you can save by owning an EV:

Fuel Savings

The cost of charging an EV is cheaper than buying gasoline.

The cost of ownership of an electric vehicle is lower than a gasoline-powered car. On average, EV owners save $800 to $1,000 a year on fuel costs.

Maintenance and Repair

There are no oil changes, tune-ups, or belt replacements necessary with an EV. The brakes also last longer because regenerative braking slows the car down instead of using the friction brakes.

Electric vehicles have far fewer moving parts than gasoline-powered cars. They generally need less maintenance and repair. Over the lifetime of the vehicle, you can save an average of $4,600.

Depreciation

Another cost advantage of EVs is they hold their value better than gasoline cars. This means that you can get a higher resale value when you sell your EV.

When you factor in all the savings, it's clear that electric vehicles are a great choice. With lower costs of ownership, EVs provide a great way to save money in the long run.

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