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What is the price range of electric cars?
Electric cars are great, but they can be a bit costly. I’m considering buying a car, but I’m on a budget. What is the average price range of an electric car?
Marlee John · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It’s true—electric cars can get a bit pricey. The average budget electric car will cost about $30,000 to $40,000, which is about same as an entry level luxury gas vehicle.
This may seem high, but it does not include the
federal tax credit
, which can offer up to $7,500 in credit on the purchase of an EV, or any other incentives. Some manufacturers are trying to lower the overall cost of the EV. There are several vehicles that are in the high $20,000 range: the Nissan Leaf cashes in at about $27,000 and the Mini Cooper SE runs at about $29,000.
Luxury cars more like Tesla, Porsche or BMW may have prices of $80,000 and over $120,000. While this is not ideal for most people, thankfully it is not the only option for electric cars.
If you’re considering purchasing a car, you should also consider buying car insurance.
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