Total Cost of Ownership (TCO) & Financial Deep Dive
The $10,000 Mistake: Why Your Petrol Car Costs More Than You Think (vs. EV)
David chose a new petrol sedan over an EV, saving $5,000 on the sticker price. He felt smart, until he tallied his expenses five years later. He’d spent over $12,000 on fuel as prices climbed and another $3,000 on oil changes, brake pads, and a new alternator. His EV-driving neighbor, Maya, had only spent $2,500 on home charging and minimal maintenance. David’s initial savings were long gone; his choice had secretly cost him over $10,000 more. The lesson was clear: the cheapest car to buy isn’t always the cheapest car to own.
How I Got My EV to Pay for Itself in 3 Years (And You Can Too)
When Maria bought her $45,000 EV, the price felt steep. But she was meticulous. First, a $7,500 federal tax credit and a $2,000 state rebate immediately cut her cost. As a high-mileage commuter, she saved $250 a month on gas, totaling $9,000 over three years. She avoided $1,000 in oil changes and tune-ups her old car would have needed. By charging at home during super off-peak hours, her electricity costs were minimal. In just three years, her combined government incentives and running-cost savings completely erased the price difference compared to a similar petrol car.
Shocking Truth: When a NEW EV is Cheaper Than a Used Petrol Car
Liam was shopping for a car, comparing a three-year-old used petrol SUV for $28,000 with a new, base-model EV for $36,000. The EV seemed out of reach until he did the math. A $7,500 tax credit brought the EV’s effective price down to $28,500. Over five years, the used SUV would likely cost $10,000 in fuel and $2,500 in maintenance. The new EV, under warranty, would only cost about $3,000 in electricity with almost no upkeep. Suddenly, the brand-new, zero-mile EV was the more affordable long-term option than the used gas guzzler.
The Hidden Costs of Petrol Cars Your Dealer Won’t Tell You (EV Advantage)
Sarah was excited to buy her new petrol car, focusing only on the monthly payment. The dealer never mentioned the ongoing financial drain. In the first few years, she paid for multiple oil changes (
400),anewsetoftiresworndownbyenginevibration(400), a new set of tires worn down by engine vibration (400),anewsetoftiresworndownbyenginevibration(
800), and a surprise exhaust repair ($600). Meanwhile, her brother’s EV just kept going. He had no oil to change, no spark plugs to replace, and his regenerative braking meant his brake pads were still like new. Sarah realized the true cost of her car included a long list of repairs EVs simply don’t need.
Is Financing an EV Smarter Than Buying a Petrol Car Cash? A Breakdown
Tom had $35,000 saved. He could buy a petrol car outright or use it as a down payment on a $50,000 EV. He chose to finance the EV. With a $7,500 tax credit, his loan amount was manageable. His monthly fuel savings of $200 completely covered his car payment’s interest, with cash to spare. By keeping his $35,000 invested in a simple index fund, it grew over the years. In the end, financing the EV allowed him to keep his cash working for him, making it a far smarter financial move than draining his savings on a depreciating petrol asset.
Unveiling the REAL Cost: EV vs. Petrol After 5 Years of Ownership
Two friends, Ben and Chloe, bought new cars for $40,000 each—Ben a petrol sedan, Chloe an EV. After five years, they compared notes. Ben had spent roughly $11,000 on gasoline and $2,500 on maintenance like oil changes, filters, and brake services. His total cost was $53,500. Chloe, after a $7,500 tax credit, had spent $3,000 on electricity and $500 on tire rotations. Her total cost was just $36,000. The real cost of ownership wasn’t even close; Chloe was ahead by a staggering $17,500, proving the long-term financial power of electric.
My Biggest Regret: Not Switching to an EV Sooner (Cost Savings Exposed)
For years, Mark dismissed EVs as too expensive while driving his paid-off petrol truck. He felt frugal. Then, a friend showed him a spreadsheet. Mark calculated he’d spent nearly $4,000 a year on fuel and another $800 on annual maintenance. Over the four years he’d been “saving money,” he had burned through almost $20,000 just to keep his old truck running. He could have used that money to buy a new EV, which would have cost him less than $1,000 a year to run. His biggest financial regret wasn’t a bad investment; it was delaying the switch.
Petrol Price Panic? Why EV Owners Are Laughing All the Way to the Bank
During a sudden spike in fuel prices, gas stations were chaotic, and social media was filled with complaints about $100 fill-ups. At home, Aisha plugged in her EV, just like any other night. Her electricity rate was locked in with her utility company on a time-of-use plan, costing her about $4 for a full “tank.” While her colleagues panicked about their budgets and cut back on driving, Aisha’s transportation costs remained stable and predictable. She wasn’t just saving money; she had bought herself immunity from the volatility of global oil markets.
The Cheapest Way to Own a Car in 2024: EV vs Petrol Showdown
Let’s compare a $27,000 petrol car with a $35,000 EV. After a $7,500 tax credit, the EV’s price is $27,500—nearly identical. Assuming 12,000 miles per year, the petrol car costs about $1,800 annually in fuel (at $3.50/gallon) and $400 in maintenance. The EV costs about $500 in electricity and $100 in maintenance. Over five years, the petrol car costs $11,000 to run, while the EV costs only $3,000. Despite a similar purchase price after incentives, the EV is the undisputed cheapest option, saving its owner $8,000 over five years.
Stop Burning Money: How Much You’re REALLY Spending on Petrol vs. Electricity
Jenna thought her $60 fill-ups twice a month were just a normal expense, totaling $1,440 a year. After switching to an EV, she installed a home charger and tracked her utility bill. Her driving now added just $35 a month to her electricity costs, or $420 a year. In one year, she kept over $1,000 in her pocket. She wasn’t just buying transportation anymore; she was buying fuel at an 70% discount, every single day. The abstract idea of “savings” became tangible money she could use for vacations, investments, or home improvements.
EV Tax Credits & Rebates: Your Secret Weapon to Affording a Greener Ride
The Chen family loved a new EV minivan, but its $52,000 price was intimidating. Then, their dealer walked them through the incentives. As a new EV, it qualified for the $7,500 federal tax credit. Their state offered a $2,500 instant rebate, and their local utility company gave them another $500 for installing a home charger. Suddenly, the total price dropped by $10,500 to just $41,500—well within their budget. These credits weren’t just a bonus; they were the secret weapon that made their ideal family car an affordable reality.
Insurance Shocker: Are EVs More Expensive to Insure than Petrol Cars? The Real Data
When Priya was shopping for her new EV, she heard rumors about sky-high insurance. She called her agent and got quotes for two similarly priced cars: a popular petrol SUV and her chosen EV. The EV’s premium was $20 a month higher. Her agent explained that specialized parts and technician training can make EV repairs more costly, leading to slightly higher rates. However, Priya’s annual fuel savings were over $1,500. The extra $240 a year in insurance was a tiny fraction of her overall savings, making the EV the clear financial winner.
Resale Value Riddle: Which Depreciates Faster, EV or Petrol? (The Surprising Answer)
Four years ago, brothers Sam and Leo bought cars. Sam got a petrol-powered luxury sedan, while Leo chose a comparable long-range EV. Both decided to sell. Sam was shocked to find his sedan had lost 55% of its value, with buyers wary of its fuel consumption and future maintenance. Leo’s EV, however, had only lost 40% of its value. High demand for used EVs, combined with stable battery health and low running costs, meant it held its value surprisingly well. The market had spoken: the future-proof technology was the better long-term asset.
Leasing vs. Buying: The Smartest Financial Move for EVs vs. Petrol Cars
Financial advisor Rachel needed a new car. For a petrol model, buying was often better due to predictable depreciation. But for an EV, she chose to lease. The technology was evolving so rapidly that she didn’t want to be locked into a model that might be outdated in three years. Furthermore, the manufacturer passed the $7,500 federal tax credit directly to her in the form of a lower monthly lease payment, something she couldn’t get if she financed. Leasing gave her a lower payment and the flexibility to upgrade in three years.
The “Free Fuel” Myth: Calculating Actual EV Charging Costs vs. Petrol Pumps
New EV owner Mike loved the idea of “free fuel” from public chargers at the grocery store. But for daily use, he relied on his home charger. He checked his utility bill: his household used 800 kWh per month before the EV. After a month of commuting, it rose to 1100 kWh. Those extra 300 kWh, at his rate of 14 cents per kWh, cost him $42. To drive the same distance in his old sedan would have cost over $180 in gasoline. It wasn’t free, but at less than a quarter of the price, it felt pretty close.
DIY EV Home Charger Installation: Cost Savings vs. Professional Pitfalls
Anxious to save money, Greg decided to install his new Level 2 EV charger himself. He bought a $500 charger and $100 in materials. After watching tutorials, he spent a full weekend struggling with his home’s breaker panel. He wired it incorrectly, causing the breaker to trip constantly and creating a potential fire hazard. Defeated, he called an electrician who charged $800 to fix the mistake and install it correctly and safely. In the end, his attempt to save a few hundred dollars cost him more money, a lost weekend, and significant risk.
Long-Term Battery Replacement Costs: The Elephant in the EV Room (Or Is It?)
Susan hesitated to buy an EV, terrified by stories of $20,000 battery replacements. She did some research. She discovered that EV batteries are covered by a manufacturer’s warranty for at least 8 years or 100,000 miles. Furthermore, data showed that modern batteries retain over 90% of their capacity well beyond that period. If a replacement was ever needed far down the line, it would likely be for individual failed modules, not the entire pack, costing a fraction of the feared price. The “elephant” was more of a mouse, inflated by outdated fears.
The True Price of Convenience: Petrol Station Visits vs. Home EV Charging Costs
For 20 years, Ken spent 10 minutes at the gas station every week. That’s over 86 hours of his life standing at a pump. When he got his EV, his routine changed. He spent 30 seconds plugging it in when he got home and 10 seconds unplugging it in the morning. He woke up every day with a full “tank.” He paid a one-time cost of $1,200 for a home charger installation, but he gained back hours of his time every year and eliminated the weekly chore forever. The true price of convenience favored the EV.
State by State: Where is it CHEAPEST to Own an EV vs. Petrol in the US?
Anna in Washington and her cousin Brad in Connecticut both bought the same model EV. Anna’s life was cheap; with Washington’s incredibly low hydroelectricity rates, her charging costs were about $25 a month. The state also had no sales tax on EVs. Brad, however, faced some of the nation’s highest electricity rates, paying over $90 a month to charge. While still cheaper than the $250 he would have spent on gas, the savings weren’t as dramatic. Their experience showed that the financial benefit of an EV can vary significantly depending on local energy costs and state-level incentives.
Impact of Rising Electricity Prices on EV Ownership: Still Cheaper than Petrol?
A local news story announced a 15% electricity rate hike, and Paul’s neighbor gloated, “See? Your EV isn’t cheap anymore!” Paul did the numbers. His monthly charging cost went from $40 up to $46. That same month, gas prices also rose by 20 cents a gallon. His neighbor’s monthly fuel bill jumped from $200 to $225. Even with the rate hike, Paul’s “fuel” cost remained almost five times cheaper than petrol. The lesson was that even when electricity gets more expensive, the massive price gap means EVs almost always maintain their significant financial advantage.
How Maintenance (or Lack Thereof) Skews EV vs. Petrol TCO
After three years and 45,000 miles, it was time for preventative maintenance. For Maria’s petrol car, the service list was long: an oil change, engine air filter, cabin air filter, transmission fluid flush, and new spark plugs, totaling $750. For her husband’s EV with the same mileage, the service consisted of a cabin air filter and a tire rotation, costing just $95. This stark difference, repeated every few years, dramatically lowered the EV’s total cost of ownership (TCO), a crucial factor that initial sticker prices completely ignore.
The ‘Gas Guzzler’ Tax You Don’t Know You’re Paying (Indirectly with Petrol Cars)
Frank drove a large petrol SUV and prided himself on having no car payment. What he didn’t see were the indirect taxes. A portion of his federal and state taxes went toward road repairs heavily impacted by heavy vehicle traffic. More subtly, the nation’s economic resources were spent securing global oil supply chains, a cost reflected in the overall economy. His EV-owning neighbor contributed far less to these hidden societal costs and pollution-related healthcare expenses. While not a direct line-item, Frank was paying a “tax” for his reliance on fossil fuels, one that EV drivers largely avoid.
Affordable EVs vs. Budget Petrol Cars: A Pure Cost Breakdown Over 7 Years
Let’s compare a $26,000 budget petrol car to a $34,000 affordable EV. With a $7,500 tax credit, the EV’s upfront cost is $26,500. Over seven years, the petrol car will require about $12,600 in fuel (@ $3.50/gal) and $3,500 in maintenance, for a total ownership cost of $42,100. The EV will use about $3,800 in electricity and $1,000 in maintenance, for a total cost of $31,300. Even when comparing the cheapest petrol cars to affordable EVs, the electric model saves over $10,000 in the long run, proving its superior value.
Can You REALLY Save $500/Month Switching to an EV? We Did The Math.
The claim of saving $500 a month seemed impossible to Josh, who spent $250 a month on gas for his commute. But then he considered his friend, a delivery driver named Clara. Clara drove a gas-guzzling van, spending over $600 a month on fuel and another $100 on frequent oil changes. When she switched to an electric cargo van, her charging cost was only about $150 a month, and maintenance was nearly zero. Her savings were immediate and substantial—over $550 every single month. For high-mileage drivers, saving $500 a month isn’t just possible; it’s probable.
Used EV Batteries: A Second Life or a Financial Black Hole for Owners?
Tim bought a first-generation used EV with 90,000 miles on it. The battery had degraded and now only offered 60 miles of range. He panicked, thinking he’d need a costly replacement. Instead, he found a company that specialized in energy storage. They bought his old battery for $3,000 to use in a solar power system for a house. This money significantly offset the cost of a refurbished, higher-capacity battery for his car. Far from a black hole, the market for “second life” batteries created real value, turning a potential liability into a surprising asset.
Factoring in “Time Cost”: How EV Home Charging Saves More Than Just Money
Every week, Brenda spent about 15 minutes driving to the gas station, waiting, pumping gas, and paying. Over a year, that was 13 hours of her personal time. After getting an EV, her “refueling” took 30 seconds: plug in at night, unplug in the morning. She reinvested those 13 hours into her side business, generating hundreds of dollars in extra income. The EV didn’t just save her money on gas; it gave her back her most valuable asset—time. When she factored in the value of her time, the financial case for the EV became undeniable.
The Unexpected Financial Perks of EV Ownership (Beyond Fuel & Maintenance)
After switching to an EV, Lisa discovered a cascade of unexpected financial benefits. Her city offered free downtown parking for electric vehicles, saving her $15 every time she went to the office. She also gained access to the HOV lane, which cut her commute by 20 minutes a day—time she could bill to clients. Some hotels she stayed at for work offered free charging, eliminating “fuel” costs on business trips. These small perks, from parking to time savings, added up to hundreds of dollars a year, further widening the financial gap between her new EV and old petrol car.
Why Wall Street is Betting Big on EVs (And What It Means for Your Wallet)
Investment analyst Alex saw his firm pouring billions into EV manufacturers, charging networks, and battery technology. He explained it to his dad: “It’s not about being green; it’s about seeing the future.” Wall Street recognized that EV technology is fundamentally more efficient and scalable. The cost of batteries was plummeting, while the cost of extracting oil was rising. For the average person, this institutional bet means more competition, lower EV prices, wider charging availability, and better technology in the future. Wall Street’s investment is a powerful signal that EVs are the most financially sound long-term transportation choice.
Petrol vs. EV: Which Holds Its Value Better in a Recession?
During an economic downturn, Maya needed to sell her car. Her friend, in the same boat, was selling his petrol-powered SUV. Gas prices were high, and buyers were terrified of unpredictable fuel costs. Her friend had to slash his asking price twice. Maya, selling her EV, found a flood of interest from buyers desperate to lower their monthly expenses. Because the EV’s “fuel” cost was low and stable, it was seen as a safe, budget-friendly choice in uncertain times. She sold her car quickly for a great price, proving that in a recession, efficiency and predictability win.
The True Cost of “Cheap” Petrol Car Repairs vs. EV Longevity
Mark’s 8-year-old petrol car needed a new catalytic converter, a repair costing $1,500. It felt like he was just throwing money away on a car that would have another expensive problem next year. His neighbor’s 8-year-old EV, with a similar mileage, had never needed a major repair. It had no exhaust system, no transmission to service, and its electric motor had only one moving part. Mark realized the true cost of “cheap” petrol repairs is that they never end. The EV’s simplicity meant that it was engineered for longevity, avoiding the constant cycle of component failure.
Unlocking Fleet Savings: Why Businesses Are Switching to EVs En Masse
A local plumbing company, “Pipe Masters,” ran a fleet of 20 petrol vans. Their monthly fuel and maintenance bill was a staggering $10,000. The owner, Maria, piloted a switch to five electric vans. A year later, the numbers were stunning. Fuel costs for those vans dropped by 80%, and maintenance was reduced to tire rotations. The vans were also quieter and projected a modern image. The pilot was so successful that Maria secured a loan to convert the entire fleet. For businesses, where total cost of ownership is paramount, the switch to EVs wasn’t a choice; it was a competitive necessity.
“Range Anxiety Tax”: Does Worrying About Range Cost You Money with EVs?
New EV owner Carlos was so worried about running out of charge that he would only charge his car to 100% at expensive DC fast chargers, thinking it was safer. This not only cost him more money than charging at home but also put unnecessary stress on his battery. After a few months, he relaxed. He realized his daily commute used only 20% of his battery. He started charging at home to 80% nightly, which was cheaper and better for the battery’s health. His initial “range anxiety tax”—the extra money he spent due to fear—vanished as he got comfortable with his car’s real-world capabilities.
How Your Driving Habits Determine if an EV or Petrol Car is Cheaper for YOU
Consider two drivers. First is Sarah, a retiree who drives 3,000 miles a year for local errands. For her, the fuel savings of an EV would take over a decade to offset the higher purchase price, making a cheap petrol car more sensible. Then there’s David, a sales rep who drives 30,000 miles a year. For him, the enormous fuel and maintenance savings mean an EV pays for its price premium in under two years. This shows there’s no single answer; the more you drive, the more financial sense an EV makes.
The Carbon Tax Factor: How Future Policies Could Make Petrol Cars Unaffordable
In 2025, a moderate carbon tax was introduced, adding 30 cents to every gallon of gas. For Fatima, who had just bought a petrol car, this meant an extra $250 a year in fuel costs. Her friend, who had bought an EV, was unaffected. Experts predicted the tax would increase every two years to meet climate goals. Fatima realized that by 2030, the tax alone could add thousands to her ownership cost. Buying an EV was no longer just about saving money today; it was about protecting herself from the inevitable rising costs of pollution tomorrow.
Calculating Your Personal “Break-Even Point” for an EV vs. Petrol Car
Jessica wanted to know when an EV would start saving her money. She compared a $42,000 EV to a $35,000 petrol car, a $7,000 difference. After a $4,000 rebate, the difference was only $3,000. She drove enough to save $120 a month on gas and $30 on maintenance compared to the petrol car, for a total monthly saving of $150. To calculate her break-even point, she divided the price difference by her monthly savings: $3,000 / $150 = 20 months. After just one year and eight months, the EV would have paid for itself and would be pure savings from then on.
Are Luxury EVs a Better Financial Bet Than Luxury Petrol Cars?
A doctor was choosing between a $70,000 German petrol sedan and a $70,000 luxury EV. While both had high-end features, their long-term costs diverged sharply. The petrol sedan required premium fuel, expensive oil changes, and had complex engine parts that were costly to fix out of warranty. Its resale value was also projected to fall quickly as the market shifted electric. The EV, with its minimal maintenance and low, stable “fuel” costs, promised a much lower total cost of ownership. In the luxury space, the EV wasn’t just a status symbol; it was the smarter, more sustainable financial asset.
The “Opportunity Cost” of Sticking with Your Old Petrol Car
Dan drove a 10-year-old, paid-off car. He thought he was being smart, but he was spending $2,000 a year on gas and $1,000 on repairs. An accountant friend explained “opportunity cost”: that $3,000 a year wasn’t just money spent; it was money he could have been investing. If he had switched to an EV three years ago, his running costs would have been closer to $500 a year. He could have invested the $2,500 annual savings. Over those three years, he missed out on not just the savings, but the potential growth of that money.
EV Subscription Services vs. Petrol Car Ownership: A Cost Comparison
Emily moved to a new city for a two-year contract and needed a car. Buying a petrol car for $30,000 meant dealing with registration, insurance, maintenance, and the hassle of selling it later. Instead, she chose an EV subscription for $700 a month. The all-inclusive price covered the car, insurance, maintenance, and roadside assistance. Her total cost over two years was $16,800, with no long-term commitment. Buying and running the petrol car for two years, after factoring in depreciation, would have cost her nearly $20,000. The subscription offered flexibility and financial predictability.
Hidden EV Costs: Charger Upgrades, Electricity Plan Changes, and More
When Sam bought his EV, he planned for the car’s cost but missed a few things. Installing a Level 2 charger required a new 240-volt line, which cost him $900. To maximize savings, he had to switch to a “time-of-use” electricity plan, which made running his AC during the day more expensive. He also bought a set of snow tires, as the instant torque could be tricky in ice. While still far cheaper than owning his old gas car, these one-time and peripheral costs were important, unexpected parts of his initial transition to electric.
The Financial Case for Owning TWO Cars: One EV, One Petrol?
The Millers were a two-car family. They had a large petrol SUV for family road trips and a small petrol commuter car. Their total monthly fuel bill was $450. They sold the small car and replaced it with a used, short-range EV for local driving. Their fuel bill plummeted to $100 for the SUV, and the EV added just $30 in electricity. They now spent $130 a month instead of $450, saving $320. For them, the most financially sound solution wasn’t going all-electric, but strategically replacing the high-mileage car with an EV for 90% of their driving.
How to Negotiate the Best Deal on an EV vs. a Petrol Car
When negotiating for a petrol car, Kevin focused on getting the dealer to lower the MSRP. But when his sister Tina bought an EV, her strategy was different. Since EV demand is high and inventory can be low, dealers have less room to move on price. Instead, Tina negotiated on other items. She secured a higher trade-in value for her old car, a free home charger installation, and all-weather floor mats. She understood that for EVs, the “deal” is often found in the value of the entire package, not just a discount off the sticker price.
The “Residual Value” Game: Which Car Type is a Safer Bet for Leasing?
Mark was leasing a car and wanted the lowest possible payment. The payment is based on the difference between the car’s price and its predicted value at the end of the lease (the “residual value”). He compared a petrol sedan and an EV. The leasing company projected the petrol car’s value would drop significantly due to rising fuel costs and shifting demand. The EV, however, was predicted to have a high residual value. This smaller drop in value meant the EV had a much lower monthly lease payment, making it the safer and cheaper bet.
Petrol Price Volatility vs. Stable Electricity: The EV Financial Shield
In one year, gas prices in Maria’s town swung from $3.20 to $4.50 a gallon. Her monthly fuel budget for her petrol car was a chaotic mess, ranging from $150 to over $220. Her neighbor, who drove an EV, had a different experience. His electricity rate was fixed for the entire year. Every month, his transportation energy cost was a predictable $45. The EV acted as a financial shield, protecting his household budget from the wild, unpredictable swings of the global oil market and giving him peace of mind that Maria envied.
Are Extended Warranties Worth It for EVs vs. Petrol Cars?
When buying his new petrol car, David purchased a $2,500 extended warranty, fearing costly transmission or engine trouble. When his friend Amy bought her EV, she declined the extended warranty. She knew the EV’s most expensive component, the battery, was already covered for 8 years/100,000 miles by the manufacturer. The drivetrain, a simple electric motor, had far fewer points of failure than a complex internal combustion engine. For the EV, the standard warranty covered the biggest risks, making the extra expense of an extended warranty largely unnecessary.
The Cost of “Future-Proofing”: Is Buying an EV an Investment or Expense?
Financial planner Ben called buying a new petrol car in 2024 “a guaranteed depreciating expense.” It consumes costly fuel, requires constant maintenance, and its resale value will likely plummet as the world moves electric. An EV, he argued, is a strategic investment in “future-proofing” your finances. While it also depreciates, it protects you from volatile fuel prices and future carbon taxes. Its technology is aligned with market direction, ensuring better value retention. You’re not just buying a car; you’re buying a hedge against the rising costs of an obsolete technology.
How Energy Tariffs (Like Time-of-Use) Can Make Your EV Dirt Cheap to Run
When Sarah first got her EV, she charged it whenever she parked, costing her 15 cents per kWh. Then, she switched to her utility’s Time-of-Use (TOU) plan. Electricity from 11 PM to 6 AM was just 5 cents per kWh. By setting her car to charge only during this “super off-peak” window, she slashed her charging costs by two-thirds. A full charge that once cost $6 now cost only $2. By aligning her charging with the grid’s cheapest power, she turned her EV from merely “cheap to run” into “incredibly cheap to run.”
The Real Cost of Oil Changes, Tune-ups, and Exhaust Repairs You Avoid with EVs
Over 10 years and 150,000 miles, Mike meticulously tracked the maintenance on his petrol car. He paid for 30 oil changes (
1,800),threesetsofsparkplugsandtune−ups(1,800), three sets of spark plugs and tune-ups (1,800),threesetsofsparkplugsandtune−ups(
1,200), a timing belt replacement (
900),anewmuffler(900), a new muffler (900),anewmuffler(
500), and a catalytic converter ($1,500). The total came to $5,900. His friend with a 10-year-old EV had spent less than $1,000 on maintenance over the same period, mostly on tires and cabin air filters. The money saved by simply not having an engine was enough to pay for a luxury vacation.
Shared Mobility: Is Not Owning a Car (EV or Petrol) the Cheapest Option?
Living downtown, Chloe decided to ditch car ownership entirely. She sold her car for $18,000. For daily trips, she used a city bike-share program and the bus. For longer trips, she used a car-sharing service, opting for an EV that cost $15 an hour. Her total monthly transportation cost averaged $250, compared to the $700 she used to spend on her car payment, insurance, gas, and parking. For urbanites with good public transit, the cheapest car is no car at all, using shared mobility on demand instead.
The Economic Impact of a Local EV Charging Network vs. Petrol Stations
A small town invested in a public EV charging network downtown. Tourists in EVs, who previously would have bypassed the town, now stopped for an hour or two to charge. While waiting, they shopped at local stores, ate at cafes, and visited the museum, injecting new money into the local economy. The town’s petrol stations, in contrast, were mostly pay-at-the-pump stops where travelers rarely left the forecourt. The charging network didn’t just support new technology; it created a valuable economic engine that the old fueling model couldn’t match.
Selling Your Petrol Car: How to Maximize Value Before Switching to an EV
Before buying his new EV, Tom wanted to get the best price for his old petrol car. He spent $200 on a professional interior and exterior detailing to make it look pristine. He gathered all his maintenance records in a neat folder to prove it was well-cared for. Instead of accepting a low dealer trade-in offer, he listed it privately online, highlighting its reliability and recent service. This small effort of preparation and selling it himself earned him $3,000 more than the trade-in offer, providing a much larger down payment for his new EV.