Is Buying An Electric Car Worth The Extra Cost?

If you are like many people in today's world, you may feel as if you are being taken each time you pull into a gas station to fill up your car's fuel tank. Because of this, you may be taking a much closer look at electric vehicles. Becoming more popular each year, you may be wondering if buying one of these cars is really worth the extra cost. Is it? Here's what you need to know.

Fuel Costs

Since your primary focus is on saving money at the pump, you'll be glad to know that even though you may spend more upfront to buy an electric car, your investment will pay off after a few years. On average, if you drive your vehicle 15,000 miles per year, you can expect to save about $1,700 per year versus you driving a gas-powered vehicle. This means you should recoup your money in about eight years, which is very good considering most electric vehicles have lifespans of at least 200,000 miles.

Maintenance Costs

Gas-powered vehicles have far more components underneath their hoods than electric vehicles. Thus, it stands to reason that electric car maintenance costs should also be lower. When it comes to annual maintenance costs, electric cars tend to cost anywhere from $300-$400 less per year to maintain than gas-powered vehicles. Since you won't have to worry about oil changes and other types of maintenance, you should keep far more money in your pocket.

Converting Gas to Electric

If you don't want to buy a new electric car, you can opt for a conversion kit such as the ones sold at Legacy EV. Conversion kits can transform your current gas-powered car into an electric car. In fact, you can save thousands of dollars doing so. When you buy a new electric car, you should expect to pay anywhere from $30,000-$50,000 or even more for some models. Yet if you buy a conversion kit, you can expect the total cost of conversion to be $10,000-$20,000.

Energy Efficiency

Finally, electric cars are much more energy efficient than their gas-powered counterparts. An electric car's battery converts about 60 percent of its energy into actual vehicle movement, while a gas-powered car only converts about 20 percent of its energy into moving the vehicle.

Though it may take some getting used to initially, chances are you will soon wonder why you didn't make the switch to an electric car much sooner. Whether you buy a new car or instead use a conversion kit, you'll soon have a car that is state-of-the-art in every way possible.