What are the cost differences between electric and gas vehicles?

What are the cost differences between electric and gas vehicles?

Electric vehicles (EVs) generally have lower fuel costs compared to gas vehicles, but initial purchase prices can be higher.

What about maintenance costs?

EVs typically have lower maintenance costs since they have fewer moving parts and don't require oil changes.

How do government incentives affect the overall cost?

Government incentives can significantly reduce the upfront cost of EVs, making them more competitive with gas vehicles.

Can you provide a breakdown of long-term costs?

Sure! Long-term costs include purchase price, fuel, maintenance, and potential resale value. EVs often save money over time.

Are there any hidden costs I should be aware of?

Yes, consider costs like home charging installation, battery replacement, and potential increases in electricity rates.