A lot of people might like the idea of owning an electric vehicle, but they don't know enough about the long-term costs of ownership. Fortunately, research from Consumer Reports suggests that owning an electric vehicle can save you money in the long run. Here are a few reasons why.
Fuel Savings
This is where most people will save money when they go electric. An electric vehicle can be charged at home, which can save owners as much as $1,000 a year over fueling a gasoline-powered car.
Maintenance
All vehicles require regular maintenance, and electric vehicles are no different. However, owners of EVs can expect to spend about half as much money on maintenance as owners of gasoline-powered vehicles, which are more mechanically complex and require more maintenance. On average, electric vehicle owners can expect to save about $4,000 on repair costs over the lifespan of their cars.
Depreciation
Consumer Reports has also found that electric vehicles hold their value as well or better than their gasoline-powered counterparts, especially now that newer EVs can drive as far as 200 miles on a single 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 Peoria. 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.
