Are Electric Cars More Expensive?

Electric Vehicle Costs Explained

Modern electric car technology has rapidly grown over the last decade. Electric vehicles are often more expensive than gasoline cars, but as advances continue, they’ll become more affordable. Plus, when you factor in no longer needing gas and many of the maintenance costs associated with gas cars, like oil changes, the question of “Are electric cars more expensive?” requires a deeper dive into the details. 

#1 Cochran is here to help break down many of the costs of EVs in comparison to gas-powered cars to help you make the right decision for your driving needs. 

Are Electric Cars More Expensive Than Gas-Powered Cars?

An electric vehicle can save you money in the long run despite the sticker price. Find out how available incentives and long-term costs can make choosing an electric car worth it:

• State Incentives: Pennsylvania drivers will be happy to know they can qualify for state incentives when buying an electric vehicle.
• Federal Tax Credits: Depending on the vehicle you are considering, you may be eligible for applicable federal rebates and tax credits for your EV purchase.
• Running Costs: A kilowatt of power, even when charging on the grid, is much less than a gallon of gas. With fluctuating gas prices, owning an EV can reduce fuel costs.
• Maintenance Costs: EV drivetrains consist of a battery pack, an electric motor and nothing more. As a result, EVs do not need oil changes, oil filters, spark plug replacements, new timing belts or many other standard maintenance costs that come with gas vehicle ownership. Having fewer parts also means fewer repairs.
• EV as a Home Generator: This may be surprising, but in a power outage, you can use your electric vehicle to keep your home’s lights on if you don’t have a generator. Talk about cost-efficiency!

A recent Consumer Reports study says, “The typical total ownership savings over the life of most EVs ranges from $6,000 to $10,000.” While the exact margin is unknown, you can reasonably expect to save between $6,000 and $10,000 by considering an EV over a gasoline-powered car in the long term.

Shop for Your Next Money-Saving EV Today at #1 Cochran

Now that you can answer “Why are electric cars more expensive?” experience them at #1 Cochran and its family of Pennsylvania and Ohio dealerships. We have the largest EV and hybrid selection in the Pennsylvania, Ohio and West Virginia tri-state area, with financing options for every lifestyle and budget. 

Experience electrification today and get started by browsing our new inventory.