ELECTRIC VEHICLE (EV) COST OF OWNERSHIP

Despite its higher price tag, owning an electric vehicle instead of a comparable gasoline-powered model could save you money in the long run. Here are just a few reasons why the cost of ownership for an EV could make it worth the initial purchase.

Fuel Savings
First of all, driving an electric vehicle means that you don’t have to rely on ridiculously-high gas prices. Electric vehicles can be charged at home when you’re not driving, a process that could save you between $800 and $1,000 a year on fuel costs over driving a comparable gasoline-powered vehicle.

Maintenance and Repair
Regular maintenance is also easier and less expensive when you own an electric vehicle. Not only are there fewer fluids that need to be changed, but the electrical components require almost no maintenance to remain functional. 

Depreciation
Newer electric vehicles may also be holding their value longer than similar gasoline-powered cars, especially now many newer EVs can drive as far as 200 miles on a single full charge. As with any vehicle, the depreciation of an EV will depend on its make, model, and features.

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

Despite its higher price tag, owning an electric vehicle instead of a comparable gasoline-powered model could save you money in the long run. Here are just a few reasons why the cost of ownership for an EV could make it worth the initial purchase.

Fuel Savings
First of all, driving an electric vehicle means that you don’t have to rely on ridiculously-high gas prices. Electric vehicles can be charged at home when you’re not driving, a process that could save you between $800 and $1,000 a year on fuel costs over driving a comparable gasoline-powered vehicle.

Maintenance and Repair
Regular maintenance is also easier and less expensive when you own an electric vehicle. Not only are there fewer fluids that need to be changed, but the electrical components require almost no maintenance to remain functional. 

Depreciation
Newer electric vehicles may also be holding their value longer than similar gasoline-powered cars, especially now many newer EVs can drive as far as 200 miles on a single full charge. As with any vehicle, the depreciation of an EV will depend on its make, model, and features.

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

* Information source is from consumerreports.org and is for general informational purposes only. All information is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information. Under no circumstance shall we have any liability to you for any loss or damage of any kind incurred as a result from use of the posted information on this page. Your use and reliance of the posted information on this page is solely at your own risk.

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