Curious to know if an EV is cheaper in the long run compared to a gas-powered vehicle? We’ve got the answer.
Maintenance Cost Differences Between EVs & Gas Cars
Maintenance items vary between gas cars and EVs, however usually you can expect the following differences:
EVs don’t need oil changes since there’s no engine.
EVs have long lasting brake pads due to regenerative braking.
Some costs still carry over to EVs like tire rotations, wiper replacement & more.
On average you’ll save around $4,500 on maintenance costs over the life of an EV.*
*Save even more with our Bring Your Own Charger program where you could earn up to 2,500 free miles based on 3 miles/kWh, at $0.132/kWh. Actual results will vary.
Some costs are specific to EVs since they’re built differently such as the following:
Fuel vs. Charging Costs
Currently, if you were to compare the cost of electricity and gas to “refill” a car, electricity would be cheaper. However, this can vary depending on the type of gas car and the type of EV. To learn more about this, we’ve broken down how fuel and charging costs work below.
Electric Vehicles and Insurance
Typically, car insurance rates are based on the following:
Currently, EVs cost more to buy than gas cars and are made with special parts, some of which can't be fixed. As a result of this, EVs can cost more to insure than gas cars.
Other Cost Factors to Keep in Mind
Depending on what EV you buy, you could get a tax credit. You could also get a rebate when you buy a Level 2 charger. See more about incentives by clicking the link below.
Every charging station varies in charging cost. For example, DC Fast Chargers typically cost more to use than Level 2 chargers since it’s faster to charge. On the other hand, some stations are cheaper or even free to use.