Services
Insurance
Loans
Repairs
Advice
About

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?

avatar
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
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.
View full answer 
WHY YOU CAN TRUST JERRY
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.

Join 4M+ members in lowering their car insurance

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