Nowadays electric cars are at its boom. I think most of you will be either thinking about buying a new electric car or had already bought a new one because in future you have to use this only. But it is obvious to consider the facts of cost-effectiveness of electric cars from IC engine cars.
The price of an electric car is 1.5to 2 times higher than that of IC engine cars of the same model. But later it requires less maintenance, as well as only a minimal amount of money, is spent on charging compare to petrol or diesel engine car. Thus, we can say, in 2019 it is a smart idea to have an electric vehicle at your home. But let’s have a look at some cost-effective factors first.
- High purchase cost you can read about this in details in my other blog why electric cars are so costly.
- Maintenance cost:- Electric cars require less maintenance in comparison to IC engine cars. In electric cars, the motor is used at the place of engine and it doesn’t require any maintenance. whereas in IC engine cars especially when it gets old, you have to change the engine oil, coolant, transmission fluid and belts and this can add up values over time. Thus the ic engine cars have a higher maintenance cost. Moreover, the battery used in electric vehicles is constantly drained and recharge but they have a significant life so you need hardly to change them in a lifetime.
- Running cost of the electric car is also very low as the electricity required to charge the battery cost very less in comparison to petrol, diesel or CNG. A study in the U.S.A. in 2018 shows an average cost of an electric vehicle is $485 per year while gasoline one costs $1,117 for a year.
Overall, it is a wise decision to have an electric car in 2019 as the government is also providing tax relaxation and giving some incentives on electric vehicles. cost effectiveness of electric cars