Let’s get ready to rumble! In this corner, we have our reigning champion: Gas cars. They’re reliable, affordable and tried-and-true.
In this corner, showing up brand spankin’ shiny and new are electric vehicles (EVs). They’re great for the environment and the government is comin’ in hot with incentives to get you to buy one.
Electric vehicles have been going head-to-head with gas-powered cars for quite some time now, but who would win in a cost-of-fill-up cage match? Spoiler alert: EVs win when it comes to saving on a fill-up.
The brawl for it all
Sure, they might be more environmentally friendly and cheaper to maintain, but are EVs the overall winner? New data shows 70% of potential EV buyers say their No. 1 reason for the purchase is to save money on gas — but calculations aren’t that cut and dry.
Average gas prices and kilowatt-hours (kWh) of electricity are easy to calculate. The tricky part comes in when you try to calculate the cost to recharge.
Charge me
The rates for electricity vary from state to state. They also vary by the type of outlet you use and the time of day you decide to charge up your ride. Don’t forget many EV owners charge at home or work but then pay a premium at a charging station on the road.
To complicate things even further, the type of vehicle you have also comes into play. Calculations for an electric pickup truck, like Ford’s F-150 Lightning, differ from a sedan or an SUV.
If that all sounds like a headache, you’re right. Luckily, the Washington Post did some comparisons that cleared things up.
Road trippin’
The analysis looked at everything from daily driving to a cross-country road trip.
When it comes to everyday driving, the average American who drives 14,000 miles annually would save around $700 by charging an electric SUV or sedan versus buying gas. That number increases to $1,000 for a pickup.
Longer road trips get a little more complicated, as stations have different charging levels depending on how quickly you want to power up. Level 3 chargers cost the most. If you choose the middle-of-the-road Level 2 option, you’ll still likely spend less than at the gas pump.
Start your engines
If you’re thinking of making the switch to an EV, the decision is about a lot more than the cost of “filling” the tank.
- If you want to charge at home, you’ll need to install the right charger and make sure it’s up to code.
- Do you live in an area with plenty of public charging stations? If not, you risk being stranded if you stray too far.
- Because EVs cost more than gas cars, your insurance will increase. On average, EV owners pay up to 25% more.
Here’s one more consideration: The time and effort it can take to charge.
Komando Content Queen Allie told me a story about her brother. He and the fam have two electric cars — but they rented a gas SUV for a recent road trip. The last time they made the trek from California to Arizona, they were stuck waiting way too long at the (few) charging stations along the way.
