💵 EV Affordability

EVERYTHING YOU NEED TO KNOW ABOUT EV COSTS

Decision Making
Featured
The Hidden Costs and Perks of EV Ownership
EVs come with additional expenditures that can drive up the overall cost of ownership. Check out the hidden costs and perks of EV ownership.

FEATURED

Male Motorist Involved In Car Accident Taking Picture Of Damage For Insurance Claim

Does It Cost More to Insure an Electric Vehicle?

While the powertrain of an electric vehicle may be different, not much changes when it comes to covering your new vehicle.

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The Cheapest EVs of 2023

Buying an electric vehicle doesn’t need to break the bank. The six cheapest EVs of 2023 all have starting prices below $35,000.

US Capitol

Federal Rebates Available for Used EVs

Used EVs are eligible for federal rebates – find out when and how to get one.

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How Will Buying an EV Affect My Taxes?

To help you understand how buying an EV might affect your taxes (and your wallet), we’ve put together a guide.

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Does It Cost More to Insure an Electric Vehicle?

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The Cheapest EVs of 2023

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EV AFFORDABILITY
$00,000 Over 5 years

Total cost of ownership estimates are based on data from Vincentric. Estimates are for new vehicles based on the latest available model year with 15,000 miles driven annually. It also assumes a 55%:45% city to highway driving ratio and U.S. average electricity rates. See vehicle comparison tool for more information and to adjust base assumptions.

Total cost of ownership estimates are based on data from Vincentric. Estimates are for new vehicles based on the latest available model year with 15,000 miles driven annually. It also assumes a 55%:45% city to highway driving ratio and U.S. average electricity rates. See vehicle comparison tool for more information and to adjust base assumptions.

Assumptions: Total cost of ownership estimates are based on new, 2022 model year vehicles with 15,000 miles driven annually. It also assumes a 55%:45% city to highway driving ratio and U.S. average electricity rates of $0.147 per kWh. See vehicle comparison tool for more information and to adjust base assumptions.

"Nissan ev car"

Assumptions: Total cost of ownership estimates are based on new, 2022 model year vehicles with 15,000 miles driven annually. It also assumes a 55%:45% city to highway driving ratio and U.S. average electricity rates of $0.147 per kWh. See vehicle comparison tool for more information and to adjust base assumptions.

Real Member Experiences

How dId You find EV COSTS compare to the cost for GAS-POWERED VEHICLE?

TW

Todd w.
14 Year Member
2019
tesla model 3
I think there’s a notion out there that EVs are super expensive. There are some really expensive EVs, like the Tesla Model S and the Model X, but I found the Tesla Model 3 to be relatively economical to buy compared to a gas-powered car. There are also cheaper models than the Tesla Model 3 that might work better for some buyers.

MP

Martha P.
30 Year Member
2015
Chevy Volt
We got wonderful rebate on our plug-in hybrid. We saved $11,000 on the purchase price between federal, Massachusetts, and Chevy rebates. It ended up cost less than a regular gas car — we saved a third off the purchase price.

EC

Eileen C.
32 Year Member
2017
Nissan Leaf
I looked at the Teslas, but they weren’t something that I could afford. The leaf was a better fit for me.

HOW DOES YOUR EV OPERATING COSTS COMPARE TO GAS-VEHICLES?

JV

Jon V.
24 Year Member
2020
Chevy Bolt
The maintenance cost is cheaper on my EV. The only real thing I have to do is rotate the tires. There’s no oil changes or anything like that. I also save on fuel. Paying $0.185 / kWh, my average cost per mile is about $0.05. This is half as much as a gas-powered car that gets 30 miles per gallon at $3 per gallon of gas. Driving an average of 1,000 miles a month means the cost to power my EV is only $50.

MP

Martha P.
30 Year Member
2015
Chevy Volt
Our plug-in hybrid wasn’t just cheaper to buy, it also has lower maintenance costs. We take it in to be serviced once a year and to do our annual inspection. This is significantly cheaper than having to get a car serviced multiple times a year. We also save a lot of gas. We put solar panels in our backyard so it is like driving the car around town for free. I love having the electric option with the price of gas where it is today.

EC

Eileen C.
32 Year Member
2017
Nissan Leaf
I save a lot by driving my Leaf. I don’t need to get a tune up or an oil change like before. I also save when it comes to fuel. It’s not like $70 or $80 in gas. Depending on how much I drive, I spend about $12 to $15 a month charging. The one thing that also surprised me was my utility company gave me a $50 rebate when installing my home charger in my garage.

How was your EV buying experience

TW

Todd w.
14 Year Member
2019
tesla model 3

I originally planned on buying a plug-in hybrid vehicle, but I didn’t find a model that interested me. I ended up testing driving a Tesla and really enjoyed the experience. At the time we were buying at the end of the quarter in 2019, Tesla was offering some small incentives, and they had a fair amount of stock, which was unusual. I didn’t realize how unusual at the time, but now I learned you can’t just walk in and buy one.

 

Now three and a half years later, I have no regrets. It’s been a great vehicle, and it has kind of changed my thinking about transportation in general.

MP

Martha P.
30 Year Member
2015
Chevy Volt
We ended up buying the plug-in hybrid because we wanted the benefit of an electric vehicle, but also the range, certainty, and convenience that comes with a gas engine. We didn’t feel comfortable going all electric at the time, and we still think the infrastructure has to be built out more. When it came to buying the car, the only downside was the extra cost to put in the 30 amp charger at our house.

aaa guides and research

"Electric car recharging in charging station"

AAA CAR GUIDE

EVs took all but one category with the 2022 BMW iX xDrive50 earning the overall top score.

ELECTRIC VEHICLES 101 GUIDE

The new Electric Vehicles 101 from AAA includes essential information on electric vehicles (EVs), like tips for first-time EV drivers, essential charging and vehicle background, and guidance for those considering purchasing a used or new EV!

your driving cost

For over 70 years, AAA has release a Your Driving Costs study to help car buyers know how much it will cost to own and operate a vehicle beyond the purchase price.