With gas prices up over 58% compared to last year, you might be thinking about switching to an electric car to save money.
But considering that electric vehicles tend to be more expensive than gas-fueled cars, and that electricity has its own costs, is it actually cheaper to go electric?
The short answer is yes — although it also depends on your driving habits, where you live and the type of vehicle you buy, too. You may even want to consider a hybrid vehicle that has both a gas and electric engine.
Here’s a look at how the costs of electric vehicles compare to gas-only cars:
Electric vehicles have a higher upfront cost
Tax credits can the lower cost of an electric vehicle
Electric vehicles tend to have cheaper fuel and maintenance costs
Read more