Are Electric Cars More Expensive Than Gas Cars?

For many years, electric cars seemed like a high-tech luxury of the ultra-wealthy, something the average consumer could only dream of owning. Not anymore! Advancements in technology, governmental incentives, and increased production have made electric and hybrid cars more accessible and less expensive than fossil-fueled vehicles, which is excellent news for the climate! Rosa is ahead of the curve, joining team electric and making moves to save money and reduce her overall carbon footprint. We hope Rocky gets on board!

Why Go Electric?

We’d like to go over the top four reasons why you should consider making the switch to an all-electric or hybrid vehicle when making your next automobile purchase.

1. Electric cars are better for the environment. According to the Office of Energy Efficiency and Renewable Energy, “All-electric vehicles produce zero direct emissions, which specifically helps improve air quality in urban areas.” In addition to that, the lifetime emissions of electric cars are significantly reduced compared to the average gasoline-fueled vehicle. With transportation being the highest greenhouse gas contribution, it is imperative to restructure the ways we get from point A to point B.

2. Electric vehicles cost less to maintain. If you have ever owned a car, you know that maintenance costs can not only creep up on you but also really put your budget through the wringer when something unexpected happens. According to Consumer Reports, electric vehicle owners pay half as much as traditional gasoline-powered vehicle owners in repair and maintenance. Simply put, electric cars have a lot fewer moving parts under the hood, so less opportunity for wear, tear, and breakage. 

3. Electric-powered vehicles cost less in “fuel.” In an article from CarandDriver.com, “How Much is an Electric Car?” we learned that “the cost of fueling an electric vehicle is about half the cost of fueling a gas-powered car, with an electric eGallon costing $1.24 and a gallon of gas costing $2.64 on average.” Electricity is simply cheaper than gasoline.

4. If the top 3 reasons weren’t enough, you could get money for switching to electric transportation! There are many federal tax rebates, state incentives, and other initiatives to encourage consumers to make the switch to an all-electric vehicle for the sake of our environment. Some states are even offering up to $9,500 in stipend to go towards purchasing a sustainable electric vehicle. While Illinois doesn’t offer a personal rebate for EV purchases they do offer Electric Vehicle Supply Equipment (EVSE) Rebate which “covers 50% of the cost of equipment and installation of charging equipment with SAE J1772 or CHAdeMo connectors. This rebate is up to $3,750 per networked single station; $3,000 per non-networked single station along with larger rebates for larger dual and fast-charge stations.”

Electric Cars Cost Less.

With all aspects considered, electric and hybrid vehicles cost less over their lifetime, financially, and cost less regarding damage to the climate. We hope you enjoyed this episode of Environmental Mythbusters! Consider a greener-in-more-ways-than-one vehicle the next time you start shopping for a new ride!