How MUCH Does That Electric Car REALLY Cost You To Own?

Electric vehicles and hybrids still generally cost more upfront than a gas model – the technologies powering these vehicles are still relatively new. Of course, the those new technologies also cost much less to operate, as electricity’s definitely cheaper than an equivalent amount of gas.

But powering a car is only part of the equation: regardless of fuel type, you still have to insure a car, and pay maintenance costs. How do those requirements factor into the comparison?

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vdiv - 11/12/2013 3:58:31 PM

+1 Boost

It is amazing how that $25k Sonata can cost $90k over 10 years, isn't it?

Projections for the cost of things over a 10-year period are a bit iffy. What are the underlying assumptions of EV proliferation, the regulatory regime, the general inflation, the cost of gas and electricity?

The conclusion that "Hybrids have no maintenance advantages over gas or electric vehicles" is a bit shortsighted and could be argued the other way, that they have the advantages of both. Yes, hybrids have a combination of the gas/electric drivetrain technologies however the size, the wear and tear, and the replacement costs for a particular part are lower than their mechanical and all-electric counterparts.

Moreover just because a battery is warranted for some number of years or miles does not mean that the battery's useful life is that number of years/miles. The battery wear on the 5-year old Tesla Roadsters is a good indication of that. Chances are very good that the battery on EVs will not have to be replaced in 10 years. Over 10 years the car may have other wear and tear making the keeping of the car or a battery replacement impractical or unnecessary similarly to replacing an engine or a transmission on an old jalopy.

Gambit - 11/13/2013 10:09:30 AM

+1 Boost

The leaf is significantly smaller than the two cars they compare it to. If they used more direct competitors, say, an Elantra and a Prius, the cost of ownership would decrease (lower purchase price/better gas mileage) and it wouldn't look as good to buy.

nowsourcing - 12/17/2013 11:48:42 AM

+1 Boost

Thank you for sharing our infographic! However, could you please link back to the original source? http://www.insurancequotes.com/auto/compare-hybrid-electric-gas-cars

Thanks in advance and thanks again for sharing!