Electric cars cost less than similar gas cars over 5 years

Are you thinking of going electric but worried about the cost? A recent J.D. Power study brings good news for potential EV buyers. Despite higher upfront prices, electric vehicles save money in the long run compared to gas-powered cars in nearly every U.S. state.

Over five years, EV owners in 48 states come out ahead financially. The savings are most dramatic in places like Colorado, Illinois, Nevada, and New Jersey, where drivers can pocket over $8,000 compared to owning a similar gas vehicle. New Jersey takes the top spot, with EV owners saving a whopping $10,345 thanks to the state’s sales tax exemption on electric cars.

But it’s not just about buying – even leasing an EV can be a smart financial move in many areas. Mississippi leads the pack for affordable EV leases, while Connecticut sits at the other end of the spectrum due to high electricity costs. The takeaway? While sticker shock might be real, the long-term savings of going electric are proving to be a game-changer for budget-conscious drivers across America.

Read the complete research: https://www.autonews.com/mobility-report/evs-cost-less-own-similar-gas-vehicles-most-states

#EVsavings #GreenDriving #FuelEconomy #SustainableTransport #ElectricRevolution

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