Why Are Electric Cars So Expensive?

Chevrolet Silverado EV

If you’ve been comparing electric cars to traditional gas-powered vehicles, the first thing that probably stands out is the difference in cost. In October 2022, the average price of a new EV was $65,291 according to Kelly Blue Book. While that’s pretty close to the price of a high-end luxury car, keep in mind there are less expensive entry-level models for Wichita shoppers newly entering the space.

But the question still remains: Why are electric cars so expensive? The main reason has to do with the cost of EV batteries, but that’s far from the whole picture. In fact, EVs are more likely to save you money over time, and here’s why:

In the long run, the price for owing an EV evens out thanks to low charging and maintenance costs, and this is why smart drivers near Wichita are still making the switch. Our car buying tips guide also has insightful information to consider when buying a vehicle; new, old, or electric so don’t forget to check it out.

Are Electric Cars More Expensive Than Gas-Powered Cars?

So we now must ask ourselves, “Are electric cars more expensive?”EVs are generally more expensive only if you’re comparing sticker prices and not looking at the whole picture. But then again, there are many hidden savings to EVs you may not have considered, including

  • State Incentives: Depending on the state in which you reside and buy your EV, you might be eligible to claim state incentives when buying an EV.
  • Federal Tax Credits: There may still be applicable federal rebates and tax credits available for your EV purchase.
  • Running Costs: a Kilowatt of power, even when charging on the grid, is much less than a gallon of gas. It could cost dollars to “fill up” AKA fully charge an EV whereas a gas tank could cost $35, $55, or even $75 — or more.
  • Maintenance Costs: EV drivetrains consist of a battery pack and an electric motor and very little else, meaning their maintenance costs are pretty basic — think tires, wipers, steering fluid, A/C components, and brakes.
  • EV as a Home Generator: We’re not talking about charging your EV here. You may be able to, in the event of a power outage, use your electric vehicle to keep your home’s lights on or give power back. Now that’s cost-efficient!

Buy Your New EV Today at Don Hattan Dealerships!

Just in case you’re still on the fence, check out even more benefits of electric cars, then let us know when you’re ready to see how your new EV will change your life by keeping you away from the gas pumpsin Andover. Contact us to schedule a test drive so you can experience the satisfaction of cutting your carbon footprint. We look forward to showing you just how much you can save by switching to an EV!

 

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