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Electric vehicles (EVs) are becoming increasingly popular due to their many benefits. In addition to being better for the environment, EVs offer significant savings over traditional gas-powered cars in terms of upfront and long-term costs.

According to Consumer Reports, the average EV costs less to own than a traditional gas-powered car. It is due to the much lower cost of electricity relative to gasoline. Also, because EVs require less maintenance than gas cars helps the price point. In addition, federal and state tax credits can further reduce the upfront cost of an EV.

Fuel Savings

Over the long term, EVs offer substantial savings in fuel costs. According to Consumer Reports, the average EV costs less per year to operate than the average gas-powered car. EV owners can save about $800 to $1,000 per year on fuel costs.

Maintenance Savings

EVs also require less maintenance than gas cars. It is because EVs have far fewer moving parts than gas cars, and thus there are fewer parts that can break down or require regular maintenance. As a result, EV owners can save about $4,600 on maintenance costs.

Depreciation

Another factor contributing to the lower cost of EVs is depreciation. Consumer Reports found that EVs depreciate slower than gas cars. It means that they retain more of their value over time. It results in annual savings on depreciation costs.

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


 
Categories: EV, Elecric, Technology, News, Green