Throughout “Affordability April”, Plug-In KC will highlight why Electric Vehicles (EVs) make great financial sense. From low fueling and maintenance costs, to the affordable prices of used EVs, there are many reasons why driving electric is so affordable!
FUEL COSTS
First, let’s talk about how fueling costs make for affordable electric vehicles. At the time of this posting, Kansas City gas prices are at least $2.59 per gallon, with the average being $2.85 per gallon. In contrast, the cost equivalent for fueling our 2021 Nissan Leaf overnight in the comfort of our home is $1.00 per gallon cost equivalent. That’s less than half! Even charging during the day is much cheaper; $1.60 cost equivalent.
MAINTENANCE COSTS
Second, let’s talk about the maintenance costs of affordable electric vehicles. According to the U.S. Department of Energy, EV’s have much lower maintenance costs than internal combustion engines (ICE) for many reasons:
- The battery, motor and associated electronics require little to no regular maintenance
- EV’s don’t have engine oil, and fewer fluids overall, so you’ll never need an oil change again.
- Brake wear is significantly lower with an EV than an ICE car due to regenerative braking.
- EV’s have far fewer moving parts than an ICE vehicle – fewer parts means less to maintain.
The Natural Resources Defense Council (NRDC) recently released a report that took a deep dive into the total cost of ownership (TCO) of EV’s versus ICE vehicles. The big takeaway? EV’s are cheaper to operate and maintain than ICE vehicles in the long run. The study found that the TCO of a Chevy Bolt was $31,768. The comparable compact sedan ICE vehicle, a Toyota Corolla LE TCO was $42,348 – over $10,000 higher than the Volt.
The study found that in all categories, whether compact sedans, regular sized sedans, compact SUVs, mid-size SUVs, and pickup trucks, the EV was cheaper over the life of ownership.
DEALS ON USED ELECTRIC VEHICLES
Lastly, as more and more pre-owned EV’s find their way into the market, there are amazing deals on affordable electric vehicles to be had! Here in Kansas City, a used 2017 Nissan Leaf SV with only 30,278 miles can be purchased for $8,500. A used 2023 Ford Mustang Mach-E select with 35,132 miles can be purchased for $26,500. Or you can purchase a used 2024 Volkswagen ID.4 standard with 2,113 miles for $25,700.
Plus, you may be eligible for up to $4,000 in tax credit when you buy a used electric vehicle! Learn more on our EV Tax Credits page.
Electric vehicles are fun to drive, better for the environment and overall a better economic choice over the life of the vehicle. As you consider your next vehicle purchase, you should really consider an EV!
Check back in to the Plug-In KC News Page throughout the month of “Affordability April” for more tips and resources on finding an electric vehicle that fits your budget.