Buying a car is rarely ever cheap, but have you ever considered the factors of a vehicle’s affordability? Travel costs,
maintenance, and vehicle lifespan are just a few of the reasons why more than ever before, car buyers are choosing
electrically powered vehicles over gas powered vehicles.
Not only do electric vehicles make less noise, release zero exhaust and less emissions overall, but there are many
other money-saving benefits that not all consumers are aware of.
The future of EV
It has been predicted that by 2040, about 70% of all cars sold will be electric. But why would this be? On average,
Electric cars have sticker prices 37% higher than gas cars, and higher insurance rates by 21%. So why would
consumers still choose to pay more?
Well, even after considering these factors, buying an electric car will still save you more money over time in
comparison to a gas car due to using charging stations instead of fuel, minimal maintenance costs, electric vehicle
tax credits, and a longer lifespan of your vehicle.
The benefits of going electric
With electric cars there are no maintenance costs as the energy is stored in batteries that must be charged at public
or residential charging stations. EVs also have fewer moving parts which limits trips to an auto shop, whereas gas
powered vehicles require frequent oil changes, coolant, transmission fluid, engine repairs, and the list goes on.
In addition, to drive 100 miles by electric vehicle, it costs an average of $5.27, while it costs about $9.83 by a gas
powered vehicle. This means that the average electric car driver is spending half the amount on fuel in comparison to
a gas car driver. This in itself will save you a pretty penny.
To add, anyone who purchases a new electric vehicle can receive a federal tax credit ranging from $2500-7500,
which is determined by the battery size, efficiency, and vehicle size. Unfortunately, purchasing a gas powered car will
not give you this same incentive.
Lastly, the average lifespan of an electric vehicle is 15 years or 162,000 miles, while the average lifespan of a gas
vehicle is only 12 years or about 150,000 miles. Going electric can buy your vehicle more time and miles overall which
will save you the most in the long run.
Lynch Electric Vehicles
Thinking about going electric or hybrid? Stop in at any of our 7 convenient locations or visit
shoplynch.com/contact-us/ for more information.
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