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How to compare the cost of electric cars to gas?
I'm looking for a new car, and my objective is to save as much money as possible. How can I compare the overall cost of electric cars to gas cars?
Chanice Boyd · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
When shopping for a new vehicle today, you’ll find more options than ever before. To compare the costs of an
electric car
to a gas-fueled car, you’ll have to look at upfront and long-term costs. Gas-powered cars are pretty standard and familiar. You’ll find that the upfront purchase price is more affordable than an electric car. However, maintenance and gas will be more expensive over your vehicle’s lifespan.
In contrast, electric cars have a higher ticketed price and are often more expensive than gas-powered cars of the same quality. However, there are federal and state incentives available to help lower the upfront costs of EVs. In addition, electric vehicles are cheaper to maintain as they require less maintenance. Drivers can also charge their cars at home, saving them a ton on fuel each year.
Whichever you choose, a little research is the best way to ensure that buying a new car doesn’t cost an arm and a leg.
Luckily, the savings don’t stop there.
Jerry
, a licensed broker, can quickly find you cheap car insurance. The Jerry app offers end-to-end support while gathering affordable quotes. Need help switching plans? Jerry does that too, and will even help you cancel your old policy. 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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