Electric Vehicle (EV) Cost of Ownership  
 

Electric vehicles are becoming increasingly popular as America's companies reach for a greener future. This energy-saving vehicle that converts energy from the battery to electricity is touted to be a clean, environmentally friendly transportation option. Electric vehicles have been proven to have a much lower effect on the environment than gas-powered cars. Many people are considering purchasing a vehicle that runs on electricity rather than gasoline. The question is, what is the cost of ownership for an electric vehicle?

Fuel Savings

The most obvious cost of an electric car is the cost of the electricity needed to run it. This fuel will be dependent on how far you drive each day. If you are a commuter that drives long distances to work, you will likely spend more money on electricity than someone who lives close to work and only drives ten miles or less.

You can calculate your fuel costs by using an electricity consumption calculator. Electricity bills are always calculated based on the kilowatt hours or megawatt hours that your average household uses.

Maintenance And Repair

Electric vehicles require repairs just like any other vehicle, but the difference for an electric car is that it requires virtually no maintenance. An electric vehicle only needs to be driven to prevent wear and tear on the batteries. If your battery becomes overcharged and needs to be drained, you will want to change the battery yourself instead of trusting a mechanic.

Most all-electric vehicles are built with lithium-ion batteries that can last for as long as ten years. These batteries are not as hard to work on as a traditional car, primarily since they mainly function as an electric engine. The most complicated thing to do when working on a lithium-ion battery is opening the housing, but it's not too difficult. You should know that the manufacturer will send out their service department if you have any questions or concerns while working on your electric vehicle.

Depreciation

Depreciation happens when a vehicle loses value and becomes worth less than the amount you bought for. If a car loses quality, you will want to avoid buying it and opt for something still in excellent condition. Electric vehicles are built to last ten years, which means there is no depreciation. Electric vehicles will be worth precisely what you paid for when you decide to sell them.

If you want to learn more about whether an EV may be right for you, feel free to contact our dealership here in Arlington. 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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