Electric cars Vs. gas cars: Which is the smarter buy? – KX NEWS
How electric cars compare to gas-powered cars for operating costs
(iSeeCars) — While electric cars are a polarizing topic, there’s no denying that electric vehicles are the future of transportation. And as most automakers have announced plans to fully electrify their vehicle lineups as early as 2025, many consumers are curious about the cost of electric vehicles compared to their internal combustion engine counterparts.
So does it pay to drive an electric vehicle? Let’s take a closer look at the numbers.
Electric Cars Vs. Gasoline Cars: Upfront Costs for New Cars
When comparing the upfront costs of electric cars vs. gasoline cars, the average new electric car costs over $11,000 more than a traditional gasoline car. However, there are federal and state EV tax credits that can defray these higher upfront costs for electric cars. For example, the Inflation Reduction Act of 2022 has widened the eligibility for the federal tax credit, which (starting January 1st, 2023) applies to…
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