Electric Vehicle (EV) Cost of Ownership  

Modern electric vehicles may seem more expensive than gasoline-powered cars, but owning one might actually save you money in the long run. Here are just a few reasons why the long-term cost of owning an electric vehicle may be worth the initial price tag.

Fuel Savings

Naturally, it costs a lot less to fuel an electric vehicle than a traditional model. In fact, research from Consumer Reports has shown that owning an electric vehicle and doing most of your fueling at home can save you anywhere from $800 to $1,000 a year on fuel.

Maintenance and Repair

Research also suggests that it costs a lot less to maintain an electric vehicle than a comparable gasoline-powered car. In fact, the battery and other electric components require almost no maintenance, and the cars themselves don't need as many fluid changes as other vehicles. On average, you can expect to spend about half as much money on maintenance over the lifespan of your vehicle when you go electric.


Finally, electric vehicles seem to hold onto their value better than most gasoline-powered vehicles, especially now that they're capable of driving long distances on a single full charge. Of course, the depreciation of an electric vehicle will still depend on things such as its make, model, and any features that it has.

Even though electric vehicles are still usually more expensive than other cars, they are becoming more affordable, and the long-term costs of ownership can make them great investments.

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