Cost of an EV Ownership

Those thinking about owning an electric vehicle (EV) are generally excited for the prospect of driving a futuristic car that can save fuel and the planet. However, if you’re thinking about an EV, you’re probably wondering about the long-term costs as well. Consumer Reports’ research has uncovered a few considerations you’ll want to make as you’re shopping for a new electric vehicle:

Fuel Savings

The fact that electricity is orders of magnitude cheaper than gasoline is probably the main reason you’re considering an electric vehicle. Instead of paying over a hundred dollars a month on dinosaur juice to get around, you can use existing infrastructure to charge up your car when you’re sleeping, and for much cheaper to boot.

Consumer Reports found that people who bought electric cars saved on average $800 to $1,000 a year, compared to when they drove traditional gas-powered cars. So not only will the planet thank you—your wallet will, too.

Revs Have Lower Maintenance Costs

Electric engines also have fewer moving parts, and longer-lasting parts, than combustion engines, meaning there are fewer opportunities for something to break and fewer reasons for you to worry about an expensive repair. Even seemingly cheap maintenance for gas vehicles, like changing the oil, can add up to around $4,600 a year, which you simply don’t have to worry about in an EV.

In fact, Consumer Reports found that over the life of the car, an EV will cost half as much as a gasoline-powered vehicle in maintenance and repairs!

Do I Have to Worry About Depreciation with an EV?

Electric vehicles are hot right now. So hot, in fact, that demand isn’t looking like it’ll slow down any time soon—which means you won’t have to worry as much about depreciation either!

Electric cars, trucks, and SUVs are only getting better, with farther ranges, more frequent and more powerful charging stations, and many states implementing tax rebates for electric vehicles. So when you’re finally ready to upgrade your EV, you’ll probably fetch more of your original purchase price than if you’d bought a gas guzzler.

Find Your next EV in Baton Rouge

When you’re looking for a new or even new-to-you electric vehicle near Denham Springs, look no further than Fabre Automotive! We’ve got a huge selection of new and used EVs, as well as a ton of hybrid and traditional models, so you’re sure to find what you’re looking for.

We make it easy to save with our comprehensive financing and rotating specials. And even after you drive off the lot, our service center is standing by to help make sure your EV lasts for years. Give us a call or come in and see us today!