Is it costly to have an electric vehicle?

Is It Really Costly to Have an Electric Vehicle?


More and more people are thinking about buying an electric car. Such a purchase is associated with a fairly large investment, but it pays off quickly. The fact is that electric cars are three times more economical than vehicles with internal combustion engines. In addition, the incentives to buy such a car are the improvement in air quality and the comfort of driving in urban conditions. That is why Salvagebid encourages you to purchase this type of transport with us. We have gathered a lot of great options on our online marketplace. Let’s also discuss what costs await a vehicle lover after buying an electric car.

What You’ll Get from an Electric Vehicle

What you'll get from an electric car

Great Britain, France, India, China, and dozens of other countries have announced their intention to completely abandon the sale of cars with an internal combustion engine. In 10–20 years, electric vehicles can finally “defeat” their competitors that drive on fossil fuel. Analyzing these facts, there must be reasons why this alternative type of transport is catching on.

Auto lovers have always noted that electric cars are distinguished by low operating costs. Such vehicles do not need to be serviced that often, and the price of charging them is much lower than the average expense of refueling a car with an internal combustion engine at a gas station. In addition, electric automobiles have a reliable transmission that will rarely break.

Another advantage of electric cars is the comfort of driving and their quiet, practically silent operation. Not to mention the lack of the characteristic smell of fuel and fumes inside the vehicle. Additionally, electric automobiles do not require oil changes and do not have worn-out gearboxes. As a result, such cars are extremely reliable, with great stability on the road and better gripping on the surface. In addition, electric vehicle owners can use free parking lots and don’t need to pay any infrastructure fees.

Let’s speak about driving expenses. If we take a sedan with a 35 MPG fossil fuel consumption parameter and the average US gasoline price that amounts to $4.3 per gallon as of August the 8th, 2022, it will cost $12.2 to run 100 miles. When we talk about standard 24 kWh electric vehicles, on average, you will pay only $4.05 for the same distance if you charge at your home. Of course, there is a possibility to use electric car charging stations, and your driving will cost you nothing in this case.

Electric Vehicle Insurance

Electric vehicle insurance

The insurance of an electric car, just like in the case of a vehicle with an internal combustion engine, depends on many factors. One of the most significant is the driver’s age and experience. Insurance for a young car owner who has just received a driver’s license and has no practice behind the wheel is usually more expensive. In addition, the price of insurance is affected by the driver’s place of residence. Usually, it is more expensive in large cities. The car’s specifications, its make, and the form of payment for the insurance are also important.

According to a Forbes Advisor survey of 41 top-selling electric car models, the US average full premium insurance cost for this type of car was estimated at $2,280 per year. The Toyota RAV4 hybrid model is the cheapest to insure with a cost of $1,776, while the Porsche Taycan, an electric sports car, was the most valuable with an insurance price of $4,683.

What About Electric Batteries?

What  about electric batteries?

Every year, electric accumulators lose their capability by approximately a few percent. At the same time, the battery power decrease slows down over several years. However, there is a solution and supply from the electric car manufacturers.

For instance, any owner of the Nissan Leaf model in the USA receives an electric battery guarantee that is valid for 8 years or 100,000 miles. Be aware that different manufacturers provide different warranty conditions. In general, the accumulator will serve for up to 10 years or more. It will be necessary to replace the electric battery after that. If we speak about the Nissan Leaf configuration, the appliance will cost around $4,500. On average, you will find that the price for a new battery is $7,500. As a whole, we can compare the cost of replacing an electric accumulator with the price of overhauling a gasoline engine.

The Bottom Line

Although you might think that the primary investment in an electric vehicle is quite significant, it is possible to save up to 50% on service and repairs, as noted on different online forums for car lovers. You do not need to buy the engine oil, spark plugs, or gas distribution mechanism belt. If we also take fuel economy, you will get a budget vehicle. Even if you are looking for a used electric car, it is still possible to have an affordable and reliable one if you pay close attention to the automobile condition.

If you are considering buying an electric vehicle, there is no smarter solution than to look for one on the Salvagebid online marketplace. To make sure, we invite you to register on our website and start bidding. If you have any questions or difficulties, our team is at your disposal! Call: +1 (360) 347-1300 from 7 a.m. to 4 p.m. (Pacific Time) Monday through Friday, or email

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