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Do electric cars cost more to run?
I want to save money on fuel by driving an electric car, but the initial high cost makes me concerned. Will an electric car also cost more money to run?
Allison Stone · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
One of the benefits of driving an
electric car
is that, in general, they will actually cost less to run! Electric car owners report spending less money on both fuel and repair costs. The average sticker price of an EV is about $19,000 higher than a gas-powered car, but you’ll get much of that cost back in other ways. A few ways you can save money by driving an electric car include:
- Spending 60% less on fuel on average compared to gas-powered cars
- Getting up to $7,500 in federal tax rebates
- Spending less money on maintenance and repairs over time
Another way you can save money is with
car insurance
comparison app Jerry
. Sign up today to find out if you’re getting the best deal on your coverage. Jerry is an app that acts as a licensed broker and does all the hard work of finding and comparing quotes from the top name-brand insurance companies so you don’t have to.
Jerry will even send you new quotes every time your policy comes up for renewal, so you’re always getting the coverage you want at the best price.
View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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