Most signs point to the future of driving being electric making it more important now than ever to understand electric vs gas car costs. Many major automakers have already invested billions of dollars into expanding their electric-vehicle lineups and body types. Electric cars are no longer just sedans there are trucks, SUVs, vans and more to select from. Governments are getting on board as well by building charging stations nationwide and offering tax credits up to $7,500 for the purchase of a new EV. The price of the all-important electric battery has been dropping over the years as well, making them more and 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.
Many are wondering: which vehicle power-type will save you the most money overall? WalletGenius dug in and looked at all the current 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