2. The True Cost Equation: Maintenance & Fuel Savings
When evaluating whether an EV is worth it, the total cost of ownership (TCO) matters more than just the sticker price. While EVs may have a slightly higher upfront cost, the long-term savings in maintenance and fuel are substantial.
Unlike gasoline cars, EVs have fewer moving parts. There are no oil changes, spark plugs, timing belts, or mufflers to replace. EVs use regenerative braking, which reduces brake wear significantly. Studies show EV owners spend 40% less on maintenance over five years compared to ICE vehicle owners.
Then there's the cost of fuel. As of 2025, the average cost of electricity per mile is 60% cheaper than gasoline. Depending on your driving habits and local utility rates, you could save over $1,000 per year on fuel alone. Charging at home during off-peak hours can bring even more savings.
Insurance costs for EVs have also begun to decrease as underwriters better understand the risk profile of electric vehicles, and repair networks expand. Several insurers now offer green vehicle discounts, making ownership even more affordable.
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