The question has been debated since the introduction of the first electric vehicles: how much do we actually save over the life of an electric vehicle, taking into account maintenance costs? A new report resulting from a study on the total cost of ownership of different types of vehicles offers solid answers. According to the results, maintaining an electric car would cost up to 40% less than a gasoline car. What is the main reason for this difference? Simply put, fewer complex mechanical parts …
When buying a vehicle, keep in mind that expenses like fuel, maintenance, and repairs add up over time. Therefore, the total cost of owning a vehicle at any given time is much higher than its purchase price.
“Over the life of a vehicle, maintenance and repairs for a gasoline car can cost around $ 25,000, which is a very large amount,” says Andrew Burnham of Argonne. National Laboratory, co-author of the recent Total Cost of Vehicle Ownership Report, in Yale Climate Connections.
However, Burnham adds that these long-term costs are generally lower for electric vehicles. Electric vehicles have fewer parts to maintain because they don’t need oxygen sensors, spark plugs, motor oil, or timing belts. Burnham’s team calculated that regular maintenance for fully electric vehicles costs roughly 40% less than for gasoline-powered cars. A more than remarkable difference.
The importance of estimating the “savings threshold”
“There are significant maintenance and repair savings over the life of an electric vehicle compared to a gasoline vehicle,” he says. Electric vehicle owners can also save a lot on fuel.
So while the upfront cost of an electric vehicle may be higher, Burnham believes buyers should look beyond the dealer’s list price. You need to consider how often you drive, how long you expect to have the car, and other factors that determine how much a vehicle will cost you over time.
As a general rule of thumb, the longer the estimated time of ownership and the higher the frequency of use, the greater the savings in maintenance with an electric vehicle. For example, a new leased vehicle, changed after two years, will result in little or no maintenance savings compared to a new gasoline vehicle; In such a short time, maintenance costs will be minimal for the gasoline vehicle, especially if the frequency of use is low (few or no parts to change). In other words, there is a threshold of possession and frequency of use beyond which savings will be noticed, and these estimates should be made before any purchase.