Electric cars have been gaining popularity around the world as people become more concerned about climate change. There was a time, not so long ago, when electric vehicles seemed to come from a distant and strange future that might never come. But now, electric cars are becoming more accessible and affordable than ever before. Without spark plugs to replace or oil to change, electric vehicles have a clear advantage over maintenance costs.
Electric cars still require some basic maintenance, such as service checks and tire rotation. But in general, the maintenance and repair of electric vehicles usually cost half as much as cars that run on gasoline. The cost of electric cars is decreasing day by day, but in most cases they still cost more than their counterparts with internal combustion engines. The battery of an electric car starts to break down after a while, just like any other electrical component.
There are some exceptions, as demonstrated by the Tesla Model 3, but that can add unnecessary financial problems to the experience of owning an electric car. The new AAA study brings back the curtain on the true cost and experience of owning an electric vehicle. The manufacturer of your electric vehicle may also have reached an agreement with charging stations across the country to allow their cars to have free or at reduced cost access to charging. Electricity rates vary from place to place and can be quite different from those in this example, depending on the location, but they are a good indicator that charging electric vehicles is cheaper than filling up a gas tank. Finally, the way you drive your car has a big impact on the price you'll pay to own and drive an electric vehicle. According to Consumer Reports, the most popular electric vehicles (EVs) cost less over their lifespan than their cousins with internal combustion engines (ICE).
While total costs are higher, electric vehicles are lower in individual categories, such as fuel and maintenance. However, studies show that electric cars and plug-in hybrids produce less polluting emissions over their lifespan than cars that run on gasoline. The price gap between electric vehicles and electric vehicles is narrowing every year, and Bloomberg predicts that electric vehicles will be cheaper to buy than comparable gasoline cars in 2025, but for now, electric cars still have a much higher MSRP.