How long does it REALLY take to save money on an electric car? They’re more expensive to buy but supposedly cheaper to run yet experts warn it can take up to a DECADE to break even - as EV drivers say they regret investing
Daily Mail
July 8, 2023
The 2023 Hyundai Kona Electric (pictured) costs $11,410 more than the gasoline-powered Kona. With an expected $1,101 in energy savings per year, but no tax credit, the EV driver would expect to break even in just over ten years.
If you have ever considered swapping a gas car for an electric one, you will have no doubt noticed that they are substantially more expensive to buy. But if you look beyond the point of purchase, electric vehicles are likely to be cheaper to run - as maintenance and fuel costs can fall substantially with a eco car.
But experts warn it is important to be aware of other hidden costs - including higher insurance premiums - before plumping for an EV.
Customers are also taking to social media to express their regret at
their EV purchase, with difficulties tracking down charging spots and
unexpected costs.
Depending on where you live, you might also have difficulties tracking down charging spots, and could find yourself caught out with nowhere to power up your car in more rural areas.
Experts are warning that it takes an average of six years to break even
on a purchase - and it can take up to a decade for the premium to pay
off.
2 comments:
And as they approach their useful service life on the battery pack their value plunges to near zero, while my 1964 VW bug is still work a fair chunk of change.
I-10 in West Texas isn't made for EV's.
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