Electric vs Gas-Powered Vehicle Cost of Ownership
Electric vehicles (EVs) are rising in popularity throughout the United States. With that rise comes an influx of information that can leave drivers uncertain whether or not driving electric ultimately costs less to own and maintain. The answer isn’t straightforward—at least not currently—but with ample knowledge to help guide your journey, the team at New Holland Ford can help you find the solution best suited for your budget.
Drivers around New Holland, Lancaster, and Reading, PA, have plenty of EVs to consider. But if you’re looking to find out the electric vs. gas-powered vehicle cost of ownership, read on to learn more. Reach out to us with additional questions you may have!
Long-Term Cost Difference in Pennsylvania
Overall, the cost of EV or gas-powered vehicle ownership depends on where you live. Luckily, Pennsylvania drivers have an advantage in driving electric. On average, the cost of maintaining a gas vehicle is $4,295, whereas driving electric is just $3,421. This comes out to a little under $900 per year in savings by driving an EV.
It’s important to note, too, that vehicle ownership over time typically favors electric models. This is due to several factors, including state and federal tax benefits, average cost per mile, and the components inside EV and gas-powered vehicles.
EV vs Gas: Maintenance Costs to Consider
Although no two vehicles are the same, the cost of maintaining your EV or gas-powered EV will typically abide by general guidelines. Think of it like this: The gas-powered F-150 costs around $0.094/mile to maintain, whereas the all-electric F-150 Lightning costs just $0.075/mile. In this case, the gas-powered F-150 carries a more expensive price due to routine service needs, like oil changes, engine maintenance, and other heavy-duty truck-related components.
Likewise, driving an EV vehicle, whether the F-150 Lightning or the Mustang Mach-E, carries its own routine maintenance needs—things like battery and software checks—but at a lower price tag per mile and per year. You can learn more about EV maintenance by contacting our Ford service center experts.
Gasoline vs Charging Costs
Even if you’re unfamiliar with many aspects of driving an EV, you’re likely aware of the significant cost between gasoline and charging. Public charging stations continue to grow in popularity throughout New Holland—and for good reason. Simply put, charging your EV provides the most up-front and noticeable difference in cost on a weekly, monthly, and yearly basis.
Take, for instance, the gas-powered F-150. On average, drivers will spend around $8,300 every 45,000 miles on gasoline—whereas the F-150 Lightning drivers will spend just over $4,500 in that same time span. On top of that, drivers can avoid public charging altogether with plug-ins and installed charging outlets at home to further lower the cost of electric driving.
A World of Difference Driving EV vs Gas-Powered
As the electric era of driving ushers in, it’s important to know what to expect behind the wheel—and with your wallet. Like many brands, Ford is adapting to this new market by introducing many EVs, resources, and other helpful services to make the transition to electric as seamless as possible.
Let our New Holland Ford team know how we can help you better understand the electric vs. gas-powered vehicle cost of ownership. Reach out to us online or over the phone today to get started.
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