How Much Cheaper Is It To Own An EV Over A Gas Car?
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Posted on EVANNEX on January 01, 2022, by Matt Pressman
Buying an electric car isn’t just about the much-needed transition to clean energy. It can actually save you some Benjamins too! How much? Mike Winters at CNBC Make It looked into it and says, “With gas prices up over 58% compared to last year, you might be thinking about switching to an electric car to save money.”
But is it worth it? According to Winters, “considering that electric vehicles tend to be more expensive than gas-fueled cars, and that electricity has its own costs, is it actually cheaper to go electric? The short answer is yes.”
“While EVs usually have higher upfront purchase prices, owners can save a lot on operating expenses. A 2020 Consumer Reports study found that EV owners, on average, spend 60% less on fuel compared to internal combustion engine vehicles,” writes Winters. And that was before gas prices really went through the roof.
So as New Year’s Resolutions come into sharp focus (depending on how much champagne was consumed), it might be high-time to save some cash. Buying an electric car, instead of another gas-guzzler, might be a powerful (and easy) way to achieve that noble goal.
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