If you’re thinking about buying a car, a new report indicates that you’ll pay way less per year for an electric vehicle (EV) than a gas-powered one.
The figures from a recent survey from AAA (the American Automobile Association) are the latest data showing that motorists can save a ton of money if they get an electric vehicle over a gas-powered one.
AAA: EVs Cheaper to Drive Than Gas-Power Cars
AAA broke down yearly costs with two factors: fuel and maintenance. Maintenance includes things like tires and repairs. Here are the yearly comparisons:
| Type of Vehicle | Average Yearly Fuel Cost | Average Yearly Maintenance Cost | Total Average Yearly Fuel & Maintenance Cost |
|---|---|---|---|
| Gas-Powered Car | $1,255 | $1,279 | $2,534 |
| Electric Vehicle | $546 | $949 | $1,498 |
As you can see from the table, those are some big savings for EV drivers.
When it comes to maintenance costs based on the manufacturer’s recommendations, EVs cost $330 less than gas-powered vehicles yearly. For fuel, EVs save a whopping $709 a year.
One thing that may deter prospective electric vehicle purchasers is range anxiety — or fear of running out of power on a trip. But AAA’s study showed that 95% of EV drivers report never having run out of a charge while driving.
As someone who has had an electric vehicle for years, here are some other reasons I’ve observed that an electric car is cheaper.
