Electric Vehicle (EV) Cost of Ownership  
 

EV cost of ownership has been greatly exaggerated by automotive journalists who don't understand how quickly they pay off their cars, what components they use in them and why, or how much work goes into recycling.

Fuel Savings

Reducing gasoline use can save money. In the first year of driving an EV, consumers may pay more for electricity than their gas or diesel tank would have cost. Add that cost to the total, and over time the fuel savings will pay for the car and leave a slight change for owners.

In most cases, however, EV owners will experience a significant drop in fuel costs long before they pay off their cars. In the first year of driving, savings from fuel costs can be from $800 to $2000, depending on the car, its regular driving habits, and whether the driver has access to discounted electricity.

Electric vehicle cost of ownership can only be calculated accurately for each car because all EVs are different. However, the most important figure to consider is how much money an EV saves over time via fuel costs.

Maintenance And Repair Costs

EVs also have a long life expectancy, often exceeding 100,000 miles. This means that owners must replace fewer parts over time, saving on maintenance costs.

Most EV owners will never make a significant repair to their cars at all. While they expect to pay thousands in oil changes and other wear and tear items over their lifetimes, most are paying much less.

Depreciation

When EV owners go to the car dealer, they are often hit with a hefty bill at the end. Depreciation is a big part of owning a car, but it quickly pays off in an EV versus its gas-powered equivalent. EVs depreciate much more slowly over time than gas vehicles because of the demand for parts used in EV motors.

Depreciation increases when a vehicle uses more expensive parts and is unavailable for long periods.

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

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