{"id":3903,"date":"2022-07-20T15:21:54","date_gmt":"2022-07-20T19:21:54","guid":{"rendered":"https:\/\/pluginamerica.org\/?post_type=faq&#038;p=3903"},"modified":"2024-12-19T16:41:55","modified_gmt":"2024-12-19T21:41:55","slug":"are-electric-cars-cheaper-to-drive-than-gas-powered-cars","status":"publish","type":"faq","link":"https:\/\/pluginamerica.org\/faq\/are-electric-cars-cheaper-to-drive-than-gas-powered-cars\/","title":{"rendered":"Are EVs cheaper than gasoline vehicles?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">EV drivers will typically save between <\/span><a href=\"https:\/\/advocacy.consumerreports.org\/wp-content\/uploads\/2020\/10\/EV-TCO-Overall-Fact-Sheet-FINAL-3.pdf\"><span style=\"font-weight: 400;\">$6,000 and $10,000 over the life of the vehicle<\/span><\/a><span style=\"font-weight: 400;\">. Currently, the upfront <\/span><a href=\"https:\/\/www.kbb.com\/car-advice\/how-much-electric-car-cost\/\"><span style=\"font-weight: 400;\">purchase price difference<\/span><\/a><span style=\"font-weight: 400;\"> between a comparable EV and a gas car is a few thousand dollars, but this gap is rapidly closing. Since EVs cost less to own and operate, most EV drivers will quickly make up the difference.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">EVs are also two times to four times more efficient than gas cars. This means that they require much less energy to power. This translates into EV drivers <\/span><a href=\"https:\/\/advocacy.consumerreports.org\/wp-content\/uploads\/2020\/10\/EV-Ownership-Cost-Final-Report-1.pdf\"><span style=\"font-weight: 400;\">saving 60% <\/span><\/a><span style=\"font-weight: 400;\">to power an EV compared to gas cars. EVs also require far less maintenance and cost about <\/span><a href=\"https:\/\/advocacy.consumerreports.org\/wp-content\/uploads\/2020\/10\/EV-Ownership-Cost-Final-Report-1.pdf\"><span style=\"font-weight: 400;\">half as much to maintain<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, <\/span><a href=\"https:\/\/pluginamerica.org\/learn\/federal-ev-tax-credits\/2024-info\/\"><span style=\"font-weight: 400;\">federal incentives of up to $7,500<\/span><\/a><span style=\"font-weight: 400;\"> are available at the time of sale for qualifying EVs and buyers. These incentives can usually be stacked with state and utility incentives, bringing the starting price of an EV to well below that of a gas car. Depending on your electric utility, you may also be able to save money by setting your car to charge at off-peak rates, which can bring your fueling rate to the equivalent of paying less than $1 per gallon. <\/span><\/p>\n","protected":false},"author":56,"template":"","faq_groups":[12],"class_list":["post-3903","faq","type-faq","status-publish","hentry","faq-group-affordability"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Are EVs cheaper than gasoline vehicles? - Plug In America<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pluginamerica.org\/faq\/are-electric-cars-cheaper-to-drive-than-gas-powered-cars\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are EVs cheaper than gasoline vehicles? - Plug In America\" \/>\n<meta property=\"og:description\" content=\"EV drivers will typically save between $6,000 and $10,000 over the life of the vehicle. Currently, the upfront purchase price difference between a comparable EV and a gas car is a few thousand dollars, but this gap is rapidly closing. 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Currently, the upfront purchase price difference between a comparable EV and a gas car is a few thousand dollars, but this gap is rapidly closing. 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