With so many signs pointing to the future of driving being electric, it’s more important than ever to understand electric vs gas car costs. Almost every major automaker has already invested billions of dollars into expanding their electric vehicle lineups. Governments are getting on board too by building charging stations nationwide and offering tax credits up to $7,500 for purchasing a new EV. The price of the all-important electric battery has been dropping over the years as well, making them more affordable each year while gas prices continue to climb. In fact, Morgan Stanley predicts that 72% of all car sales will be electric by the year 2040. Within 20 years, it will probably be difficult to actually buy a new car that still runs on plain ol’ gasoline.
Until that day comes, though, the debate between electric car vs gas costs continues on and many are wondering: which one will save you the most money overall? That’s why WalletGenius dug in and looked at all the costs associated with vehicle ownership and compiled it into this infographic to help you save time and money when deciding on your next vehicle and how to power it.
Infographic by – WalletGenius