The Total Cost of Owning an Electric Car Is Its Secret Weapon – By Brian Cooley (CNET) / May 28, 2022
Advantages beyond sticker price and fuel savings complete the story that will tip EVs into ubiquity.
This story is part of Plugged In, CNET’s hub for all things EV and the future of electrified mobility. From vehicle reviews to helpful hints and the latest industry news, we’ve got you covered.
If you’re waiting for longer range, faster charging and lower sticker prices before buying an EV, you might already be missing the boat: An electric car’s total cost of ownership is challenging that of combustion engine cars and may soon make an EV the only logical car to buy.
TCO isn’t a concept unique to EVs: It applies to anything you buy that has long-term durability and costs along the way. Whether electric or gas, the TCO of a car is based primarily on these factors:
- Price paid for the car, including manufacturer rebates.
- Financing costs to buy or lease.
- Depreciation of the car over time.
- Registration and licensing fees.
- Government tax incentives or credits.
- Insurance premiums.
- Maintenance costs.
- Repair bills.
- Fuel or energy costs.
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