Victoria's Electric Vehicle Cost of Ownership calculator can help you determine how much an electric car might cost you to own throughout your lifetime. This tool uses a variety of factors like vehicle size, type, mileage, and fuel cost. You may also input your current insurance rates to see how EVs compare in terms of coverage.
Fuel Savings
It's important to remember that an electric car runs on battery power, not gasoline. Because of this, EVs don't have any tailpipe emissions and don't have to be tuned up over the car's lifetime. Thus, electric cars are cheaper to maintain when compared with conventional vehicles. You will also save at the pump because electricity is cheaper than gasoline by as much as 50 percent or more in some locations like Washington State.
Maintenance And Repair
All vehicles require maintenance, but electric cars are so simple that they require no oil change or tune-up. Cleaning the battery is also extremely easy and can now be done in minutes with the help of a portable battery charger. Electric vehicles are also repairable almost anywhere. You can get a parts car for about $500, whether an EV or a gas-powered car, and there will be plenty of places to get replacement parts when needed.
Depreciation
You can get a check from your insurance company if your vehicle gets totaled or stolen. Depreciation is a considerable expense in owning and operating a new car. Electric vehicles depreciate much slower over the long term because they are simple, using fewer moving parts than conventional vehicles. Electric cars only lose about 25% of their value after four years, while gas-powered cars lose 45% in the same period. That's the difference between a check for $0 and the cost of maintenance and repair for four years.
If you want to learn more about whether an EV may be right for you, feel free to contact our dealership here in Grapevine. 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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