“How Much Money Can You Save with an EV?”
💰 How Much Money Can You Save with an EV? One of the biggest reasons people switch to electric vehicles (EVs) is not just to help the environment but also to save money. But how much can you really save with an EV compared to a traditional gasoline car? In this post, I’ll break it down step by step: from fuel and maintenance to tax credits and long-term ownership costs. By the end, you’ll have a clear idea of the financial benefits of driving electric. 1️⃣ Fuel Costs: Electricity vs Gasoline Let’s start with the most obvious difference — fuel. Gasoline prices in the U.S. and Europe often fluctuate, while electricity tends to be more stable. On average: Gasoline: $3.50–$4.50 per gallon in the U.S. (even higher in Europe). Electricity: Equivalent of about $1.00–$1.50 per “gallon” (when converted to miles driven). This means EV drivers typically spend 50–70% less on energy than gas car ...