This video compares the costs of driving an electric vehicle (EV) to those of a traditional gasoline vehicle. It covers aspects such as fuel savings, maintenance costs, and total cost of ownership. The video also provides insights into the long-term financial benefits of switching to an electric car.
For many car buyers, the decision to go electric comes down to simple dollars and cents. But just how much money can you save by going electric? Electric vehicles are often more expensive to purchase than their gasoline counterparts. However, what you pay for the vehicle is only one part of the total cost of ownership. Clean Energy Canada compared the total cost of ownership of popular electric car models with that of their closest gasoline equivalents. After an estimated 8 years of ownership and roughly 12,000 miles a year, they discovered that driving electric was cheaper than gasoline. Some electric vehicles showed a total ownership cost of up to 37% less than gas vehicles. That's enough to buy another vehicle after 8 years. The reduction in fueling costs and lower maintenance costs of an electric car make it a good long-term purchase for many buyers, despite the initial sticker shock. Your savings increase if you own your EV for longer than 8 years, drive it more than average, or if gas prices stay at or above where they are now. The more you drive, the more you save. Not only are you saving money when you go electric, but you'll also get to enjoy doing your part for the environment. Thanks for watching! Be sure to subscribe to our YouTube channel to get recommendations for other useful content on green cars and how they can work best for you.