Electric cars cost, on average, $56,469 as of 2023. While that’s much less than a high-end luxury car, it’s still more than the cost of most compact crossovers you’ll see peppering the roads of Hurricane, UT and Mesquite, NV. Why is that? The main reason has to do with the cost of EV batteries. That’s far from the whole picture, though. In fact, EVs are more likely to save you money in the long run. Here’s why.
According to Consumer Reports “…total ownership cost savings [actually] can more than make up for an electric vehicle’s typically higher purchase price”. In other words, electric cars like the Hyundai models might not be as expensive as you initially might think based on sticker shock alone. Findlay Hyundai has the details below, but don’t hesitate to contact us with any questions.
EVs are not necessarily more expensive than gas-powered cars, no. In fact the inverse is often true. They are generally more expensive only if you’re comparing sticker prices, or MSRPs, for EVs vs. gasoline-powered cars across the same category, with all else being equal. But then again, there are to EVs you might not be considering, including:
According to the same Consumer Reports study noted earlier, “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.” In other words, savings vary, but you can reasonably expect to save between $6,000 to $10,000 by purchasing an EV vs. a gas car over the long run.
Ready to save more on your next EV for sale near Cedar City, UT? Check out our current inventory of new and used EVs and then browse our new vehicle specials. Whenever you’re ready, don’t hesitate to reach out with questions at 435-634-0589 or apply for financing. We look forward to showing you just how much you can save by switching to an EV! For more helpful reads, learn about our complimentary maintenance program!
