Electric cars are becoming more than just a trend. Every make is coming out with an electric model and buyers are considering the switch also because of the savings that comes from switching from gasoline to electric.
But is that really the case? Are electric cars cheaper to run? We for sure know that maintenance costs on an electric cars can be cheaper but there is a big debate on fueling costs.
Electricity is generally more stable than gas
Gasoline prices are very volatile and have recently increased, causing a sudden spike in costs for the average American family. Electricity prices are usually more stable and therefore families can plan their monthly expenses accordingly.
This is a big advantage that electric cars have over their gas rivals and could save hundreds of dollars in unexpected costs in a yer.
Home Charging Requires an Initial Investment
The convenience of charging the car at home really is a must have for today’s busy world. Not everyone has the time to wait around for the car to charge or to plan charging sessions throughout the week.
As a result of that, many electric drivers choose to install charging stations in their homes. They aren’t cheap and they will need an initial investment that will push the electric car profitability further in time.
You need to plan when to charge
Energy prices usually vary by time of the day. For instance, in certain cities it is cheaper to use electricity at night than during the day. This is not a problem if you choose to charge your car at home since you will likely be charging it during the night time!
Regardless of what time you charge your car, public charging will always be more expensive since whomever is providing the service will need to make a profit as well. If you choose a public fast charging station then prices will be higher as well.
The typical American family spends $2000 per year in gasoline
Gasoline cars, based on an average of 13,000 miles per year, usually cost an american family approximately $2000 per year. The cost to operate an electric vehicle for the same amount of miles is approximately half that. So yes, electric cars are more convenient but they also require more planning unless you have a charger at home.