In my case, convenience won out and I bought a 2016 Subaru Outback to accommodate my familys needs.
Back then, there werent many electric vehicle options that would satisfy my need for cargo space.
But buying electric over gasoline tends to come with a higher sticker price, which can be off-putting.
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Over time, though, can electric vehicles actually save you money over gas-powered ones?
Up-front Costs
Electric cars range in price from affordable to are you kidding?
The Nissan Leaf starts at $30,000, while the Chevrolet Bolt starts at approximately $37,400.
That still sounds pretty steep for a new car, but tax credits really can make a difference.
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Tax credits are money in your pocket.
You might also be eligible for state tax credits.
Do some research to see whether this is something you could benefit from.
You might find the initial price of your electric vehicle goes down even more.
Also consider whether to lease the car or buy it outright.
What makes sense for traditional gasoline cars isnt necessarily the case for electric vehicles.
But if youre OK buying used, that might be the better option.
Check the offers at your local dealers and see what fits your budget best.
The fuel cost will vary depending on the time of day you charge the vehicle, Cann said.
Charging overnight should provide lower cost per mile than gasoline.
However, charging during peak times may result in higher cost per mile than gasoline.
Therefore, it makes sense toavoid charging your car during peak hours.
Instead, charge while youre at work (if you have access to a charger) or overnight.
These cost anywhere from $450 up to $750, Burdick said.
But some energy providers are offering discounts and rebates for purchasing and installing a home charger.
The rebates are about $500 depending on your location.
Overall, the cost to fuel an electric vehicle is less than that of a gas-powered car.
Over time, that means youll make up for any additional up-front costs you might have encountered.
I spoke with John Gower ofRepairPalabout the typical maintenance costs for an electric vehicle compared with a gas-powered vehicle.
This means there is less likelihood of a failure, Burdick said.
The electric motor on electric vehicles only have one moving part.
Compare this to a conventional gasoline engine with hundreds of parts and the equation adds up.
The motor isnt the only component that requires less maintenance.
Less wear and tear on the brake pads and rotors, which equates to less maintenance costs as well.
Catherine Hiles is an automotive writer living in Dayton, Ohio.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
