What's the average annual ownership cost of an electric car?

I want to buy a new Tesla, but I'm not sure how much upkeep the vehicle needs or how much it costs to own. What's the average annual ownership cost of an electric vehicle?

Answer
Teslas are certainly sweet cars, and while the initial cost is expensive, it could save you money in the long run.
If properly maintained, the average annual cost of an electric vehicle is typically 10% to 40% less than a gas-powered vehicle because of things like fuel and other maintenance costs. This is especially true with rising fuel costs across the country. Additionally, EVs don’t have the same requirements as far as engine upkeep, eliminating those repair costs, as well.
That said, EVs are still a lot of money to purchase, so do your own calculations to see if it makes sense for you.
Regardless of what vehicle you purchase, you’re going to need good car insurance. To save money on your premiums, go shopping with Jerry. After a short sign-up, Jerry will give you rates from up to 50 top providers. The average Jerry user saves $879 per year on car insurance.
Eric Schad
Answered on Oct 29, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
thumb-up

Did this answer help you?

Ask us a question by email and we will respond within a few days.
thumb-up

Have a different question?

You can meet us at our office and discuss the details of your question.
Let Jerry’s experts help you find savings on your car insurance!
No long forms or spam · Get quotes from 40+ carriers
Find insurance savings (100% Free)
rating primary
4.7/5 Rating on App Store

Easiest way to compare and buy car insurance

√
No long forms
√
No spam or unwanted phone calls
√
Quotes from top insurance companies
Find insurance savings — it's 100% free