Electric vs. Gas Vehicles | Which Is The Right Choice For You?

There are many different factors that play into the electric vs gas debate. Electric vehicles have just recently started to emerge and take over the car market. As of December of 2021, there were 286.9 million cars registered in the United States. Out of that 286.9 million, 2.3 million of those were electric vehicles. So, less than one percent of the registered cars in the U.S are electric. However, this number is rapidly growing. They expect there to be over 134 different electric vehicle models available in 2024.

So, what is different in an electric and a gas vehicle besides the obvious? First, the costs of each are significantly different. Electric vehicles are typically quite a bit more expensive than a gas powered vehicle. However, although the upfront cost is more, they do receive some kickbacks from federal and state. With electric vehicles, you can get a tax credit up to $7,500. This can be claimed on your federal tax return. Each state also has different incentives as well. This could also put money back into your pocket.

Maintenance costs are also significantly smaller on an electric vehicle. It is estimated that maintenance costs on an electric vehicle are about 1/3 of the costs on a gas vehicle. This is because there are no spark plugs to replace and no oil to change. The only routine services needed on an electric vehicle are tire rotations and routine inspections.

Fueling costs and milage are also another factor that play greatly in the electric vs gas debate. Typically, charging your electric vehicle is quite a bit cheaper than filling up your car with gas. On average, you are going to pay around $0.43 /kWh. As for gas, that can range anywhere from $2.00 a gallon to even up to $7.00 a gallon in some states. Cost wise, it seems more efficient to go with the electric. However, putting gas in your car takes much less time. Typically, you can have your vehicle filled, from empty, in around 5 minutes. Where as charging your vehicle can take up to 12 hours. This time depends on a few things. If you are using level 1 charger, it will charge substantially faster than a level 2 charger.

Each electric vehicle is also very different from the next. The Ford Lightning for example, has many different functions and uses than any Tesla model. It really just comes down to what you want in a vehicle. One thing that all electric vehicles have in common would be speed. Electric vehicles have proven to be much faster than any gas vehicle.