Why Are Electric Cars So Expensive?

On average, electric cars cost $66,000 here in the U.S. So, are electric cars more expensive than standard vehicles? When looking at the average price, electric vehicles (EVs) are a bit on the pricey side, but the sticker price doesn’t tell the full story. In fact, EVs are likely to help you save money in the long run. According to Consumer Reports “…total ownership cost savings [actually] can more than makeup for an electric vehicle’s typically higher purchase price.” In other words, the cost of owning an EV offsets the price you pay upfront! 

Along with that, you can find incredibly affordable options when you shop at Serra Traverse City. We proudly sell electric cars like the Nissan Leaf that come in under $30k! Continue your research with us below to gain a better understanding of electric vehicles and their associated costs!

Are Electric Cars More Expensive Than Gas-Powered Cars?

Are electric cars more expensive than gas-powered models? While the average price of an EV is a bit on the high side, the data is skewed since the segment is loaded with incredibly high-end models that are pushing the limits of automotive innovation. As such, the average price doesn’t reflect what you will need to pay to get behind the wheel of an electric vehicle. Not only are there affordable options like the Audi Q4 e-tron®, but electric vehicles also come with many hidden savings you may not expect:

• State Incentives: Depending on where you live, your EV purchase may be rewarded with state financial incentives!
• Federal Tax Credits: While all EV purchases aren’t eligible, many EV buyers are entitled to a tax credit of up to $7,500 via the federal government.
• Running Costs: The cost to fully charge your EV may take a few dollars while filling up your gas tank could cost $75 or more!
• Maintenance Costs: EV drivetrains consist of a simple battery back and an electric motor. This scaled-down setup leads to less maintenance since there are fewer parts to maintain! Instead, you can focus on basic consumables like tires, wiper blades, and fluids. 

The Consumer Reports study we referenced earlier also states, “The typical total ownership savings over the life of most EVs ranges from $6,000 to $10,000, CR found. The exact margin of savings would depend on the price difference between the gas-powered and EV models that are being compared.” What this means is that your individual savings will vary, but you can anticipate saving somewhere between $6,000 and $10,000 over the life of your vehicle by purchasing an EV rather than a gas-powered vehicle. 

Shop for Affordable Electric Vehicles with Serra Traverse City!

Now that you have a better idea of what to expect when entering the EV market, you can turn to Serra Traverse City to find your fit. We sell a wide range of brands and have locations all around the Bellaire area, so you won’t have any trouble making your dream upgrade when you work with us. Looking to save even more while improving your commute from Kalkaska to Lake City? Explore our new vehicle specials!