The True Costs of Charging an EV vs. Pumping Gas
One of the most important things to consider when you’re deciding between switching to an EV or sticking with a gas vehicle is the cost difference. Although EVs come with many great tax breaks and incentives, they are generally more expensive on average than gas vehicles, like the 2023 Colorado. There’s also the added cost of installing a home charger. On the other hand, gas prices are still fairly high and gas vehicles have higher maintenance costs. Learn more about which gas or electric 2022 Chevy models might be right for you at Smith Chevy Hammond!
Comparing Costs
The U.S. Department of Energy found that the average cost of electricity for an electric vehicle is about $0.04 per mile. This means it will cost about $9 to fully charge an EV’s battery with a 200-mile range. This is much cheaper when compared with gas vehicles, which cost between 0.07 and $0.10 per mile to fuel a gas car, according to AAA.
More Savings By Driving Electric
It may be obvious, but with an electric vehicle, you no longer need to pay for gas. That means huge savings—on average, between $2,000 and $4,0000 on gas every single year.
In addition to the savings from eliminating the need for gas, electric vehicles earn you major savings on maintenance costs. As an electric vehicle, it doesn’t require oil to lubricate the engine, eliminating the need for oil changes. Just that alone means huge savings over time. Add in the fact that the same is true of other expensive engine work and brakes won’t wear as easily, and this can add up to $6,000 to $10,000 in maintenance savings over the life of the EV.
EVs Are Becoming More Affordable
Over time, EVs have become much more affordable. As consumer demand has increased and with government investment in EVs, auto manufacturers are offering more models at more affordable prices. Additionally, purchases of EVs are also eligible for up to $7,500 in federal income tax credit and some state tax credits that are meant to promote clean energy. The Biden Administration’s new Inflation Reduction Act will add even more tax breaks and incentives for EV drivers.
Affordability While Still Maintaining Quality
EVs offer a smooth, comfortable driving experience. With a lower center of gravity, EVs offer better handling, comfort, and responsiveness. The vehicle’s electric engine provides smooth acceleration and deceleration, giving you a quiet, pleasant ride. The great prices and savings that come with driving an EV won’t mean you have to sacrifice power, performance, or capability. Chevrolet is even producing electric models of some of the most popular vehicles like the 2023 Silverado EV.
Visit Smith Hammond!
Looking for Chevy dealers in Northwest Indiana? Visit Smith Chevrolet today for all your needs, whether you’re looking for a new or used car, need to schedule service with our Smith Chevy Parts department, or want to trade-in your vehicle today! At Smith Motors, our unmatched service and diverse Chevrolet inventory have set us apart as the preferred dealer of Hammond residents. Visit us to compare gas and electric models today!
