We continue to tell you day in and day out that even though electric cars have higher upfront costs, you will save money over a gas car in the long run. This is essentially due to savings on fuel costs and maintenance, and it has proven true in most cases. However, a new study suggests that it's actually cheaper to own an electric version of a car than the gas-powered version starting with the first monthly payment.
The study, which was covered by Electrek, was Energy Innovation's analysis of electric vehicle versus gas vehicle costs in every US state. It factors in a car's financing costs (monthly car payment), fuel, maintenance, insurance, and other fees EV, and even includes EV tax credits and incentives (which is a pro and a con, as we'll clarify later).
