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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 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.
This post was last modified on January 29, 2020 1:08 pm
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