Electric vehicles – or “EVs” – are becoming more of a fixture on the roads. They’re better for the environment and, over time, can save you money (especially in fuel costs). Peruzzi Toyota in Hatfield, PA is proud to represent a brand that’s continually expanding its lineup of plug-in hybrids and fully-EV vehicles. Here’s a basic explainer on the cost of ownership for an electric vehicle.
While currently the cost of an EV is a little higher than a standard gas-powered car, prices will continue to drop as technology improves and demand grows. However, even factoring in current market conditions, you’ll still save an impressive amount of money on fuel. In fact, you could save over $1,000 in the course of a year by switching to an electricity-powered vehicle versus gas.
You’re also going to save on maintenance costs. EVs don’t need tune-ups or oil changes the way that gas-fueled cars do. Plus, they use something called “regenerative braking” which both helps power the car, but also, saves wear and tear on the brake system. It’s estimated that an electric vehicle will save you in the neighborhood of $4,600 on routine repair and maintenance costs over the life of the vehicle.
When it comes to the cost-of-ownership of any car, depreciation is a huge factor. The good news is that an electric vehicle holds much more of its value over a standard one. Having not been on the market as long as a regular car, there just aren’t as many of them. When you go to resell, you’ll get more of your money back.
Whether it’s a plug-in hybrid or a fully-electric vehicle, we’re looking at a major evolution in the kind of cars we drive – both now, and down the road. Peruzzi Toyota can answer any and all of your questions about how they might fit into your lifestyle.
Connect with us
