Costs of ownership for electric vehicles vs. ICE vehicles

2022 hyundai ioniq 5 - Costs of ownership for electric vehicles vs. ICE vehicles

The price of fuel oil in the United States continues to rise from day to day until now an average of almost US $ 5 per gallon. This makes many people think about buying an .

Buying a new car costs more money than saving on fuel consumption. But if you are planning to buy a new car, are an excellent choice.

Some analysts point out that from a financial perspective if you are buying a new vehicle, it makes sense to consider an if it fits your lifestyle.

The Environmental Protection Agency estimates that the average US person will cost $2,900 to refuel the 2022 BMW 430i sedan. The estimated cost for a fully electric BMW i4 2022 eDrive40, fueled at only $600.

The big difference assumes the cost of a car that uses fuel is more expensive than an electric car. Although the price of oil and electricity prices fluctuate and vary from place to place, in general electric cars are said to be much cheaper than petrol cars.

Even if electricity and fuel costs were exactly the same, electric cars should in theory be cheaper to own than cars with internal combustion engines.

Buying an electric car tends to be more expensive than a petrol car, mainly because of the high cost of the . That is one of the reasons why there is so much choice of electric vehicles among luxury brands.

There is also a choice of major brands such as the Kia EV6 and Hyundai Ioniq 5. Toyota also recently released its own electric car BZ4X, which is similar to Subaru’s new EV SUV, the Solterra.

In terms of maintenance, electric cars are said to be more efficient than other types of vehicles. This is because electric cars have fewer parts that require lubrication, electric cars can cost about half the maintenance costs of internal combustion powered cars.