ELECTRIC CARS VS. GAS CARS: IS AN EV MORE AFFORDABLE?

The automotive world is undergoing a transition. Governments and environmental organizations are making a major push to switch to cleaner vehicle alternatives. In short, more motorists are switching from gas guzzlers to electric vehicles, and the movement is accelerating faster every year. 

However, this begs the all-important question: How do electric cars vs. gas cars compare when it comes to price? There are many factors that contribute to the answer to that question. And in this article, we are going to explore those factors so you can decide whether making the change is right for you. Keep reading to learn more. 

ELECTRIC VS. GAS CARS: WHAT'S DIFFERENT?

One of the first attributes you'll notice with EVs is their unique exterior design. Many EVs sport a clean, futuristic appearance. Electric vehicles from Tesla, BMW, Nissan, etc., all possess that ultramodern sleek exterior design language that sets them apart from gas cars. However, that's a trivial difference. The obvious separator between these two vehicle classes is their respective power sources. 

EVs rely on electricity to charge their performance, while gas vehicles use an internal combustion engine for the same purpose. As a result, the main divider of these vehicles is simply the source of power each uses for its operation.

TAKE INTO ACCOUNT THE INITIAL COSTS

Let's compare electric cars vs. gas cars at initial costs. Let's use Cadillac gas and electric models as our references. And even though prices and comparison ratios will vary, you can use this example as a general guide for other models. But regardless, always ensure you do your own research. Initial costs for Ford and Hyundai electric and gas vehicles are as follows:

GAS EXAMPLES

ELECTRIC EXAMPLES

With these comparisons, it's clear that the gas-powered car comes out on top when it comes to initial costs. Electric vehicles-due to their novelty, demand, and production costs-are simply pegged at a higher price range at the moment. 

COMPARING THE ELECTRIC VS. GAS CARS COSTS

Gas powered vehicles are more affordable in terms of initial costs. But how do they stack up to EVs when it comes to other areas of cost comparison? Vehicle price is only one consideration. So, getting the full financial picture requires a deeper dive than just the surface-level initial cost of each vehicle. You can make a better decision about which car is best for you when you understand the other components that contribute to each vehicle's appeal. 

ELECTRIC VS. GAS CAR STICKER PRICES

The car sticker price of a vehicle is the MSRP (Manufacturer Suggested Retail Price). It's placed on the window of new vehicles on dealership lots. Manufacturers use it to ensure new car prices stay consistent in all markets.

However, as far as standard car sticker prices go, the cheaper option will generally be gas-powered cars. Gas-powered vehicles will usually have an MSRP of $15,000 to $25,000. Conversely, the typical EV will have an MSRP of $40,000 to $75,000 or more. Gas-powered vehicles win this round, hands down. 

ELECTRIC VS. GAS MAINTENANCE 

When comparing electric cars vs. gas cars, EVs are more efficient in their constitution. They don't have the typical "nuts and bolts" of a gas-powered car. And without having to change or replace components like oil or spark plugs, EVs are the clear winner when it comes to maintenance costs. Moreover, EVs also have the unique attribute of "regenerative" braking. This feature recovers the energy lost due to braking, which saves you money on brake pad replacements. 

Despite all this, EVs still require basic automotive upkeep, such as tire rotations and regular service checks. But generally, there will be more money left in your pocket with EVs over gas cars when considering maintenance costs.

ENVIRONMENTAL FOOTPRINT 

When it comes to each vehicle's environmental footprint, there is a clear winner in this category: the EV. The electric car was designed for the very purpose of being an eco-friendly alternative to the traditional gas-powered vehicle. As a result, EVs have zero emissions and lower operating costs. Moreover, they also don't require as much servicing as their gas-guzzling counterparts. 

However, that doesn't mean gas cars are at a complete disadvantage. Case in point: Gas vehicles have more fueling options and a more extensive driving range. As a result, they are much more practical when it comes to road trips or long excursions. 

CONVENIENCE OF ELECTRIC VS. GAS CARS

Practicality and convenience are huge attributes of any vehicle. A good car makes life easier for drivers. As a result, any vehicle that scores high on features and common sense is sure to be a hit among consumers. So, how do gas and electric cars fare against each other in this category? Let's find out. 

CHARGING VS. FILLING 

The costs of fueling electric cars vs. gas cars is an important topic for any driver. One of the biggest benefits of EVs is eliminating those expensive pump fuel-up trips. The average cost of "fueling" an electric car is $485 yearly. Compare that to the $1,100 for its internal combustion engine counterpart, and you'll see that gas-powered vehicles fall short in this segment. For this reason, EV drivers typically spend 60% less annually on fuel costs compared to their gas-driving equivalents. 

EVs are simply more affordable to fill than gas cars. Such savings are possible because electric cars are more efficient than the internal combustion engine nestled inside gas-powered vehicles. However, there are fewer charging points across the country that can conveniently serve EVs, making them a more difficult vehicle to use if you're traveling long distances. 

CARS AVAILABILITY

There is no shortage of gas-powered cars in the world. They are readily rolling off assembly lines each day and have been for over one hundred years. As a result, the availability of gas cars remains abundant. Almost anyone can walk into a dealership and drive off with a brand-new gas-powered vehicle. The same can't be said for electric cars. 

While EVs are becoming increasingly common by the year, the availability has yet to meet the demand. For this reason, gas-powered vehicles win in this category and will most likely remain on top for the foreseeable future. 

TOWING CAPACITY

While looking at electric cars vs. gas cars, both have their own advantages and disadvantages, the category of towing capacity is a clear divider. The gas-powered car is the undisputed winner. Of course, the factor of your own personal towing needs will play into whether or not a gas-powered vehicle is "better." If you don't have any long-distance towing needs, the EV will be just fine. 

However, if you do, you'll want the more robust hauling performance of a gas-powered vehicle. This is not to say EVs can't do the job. They certainly can if your maximum towing range is 80 to 100 miles. However, for any towing application above that, you'll be better off choosing a gas-powered truck. 

While the EV has many benefits, the gas-powered vehicle seems to have the advantage when it comes to convenience. It boasts many practical attributes that the EV hasn't had time to catch up with yet.

  • Firstly, gas cars are easier to refill as there are pumps on almost every street corner. Electric car charging stations have yet to be set up to that degree.
  • Secondly, they are also more readily available as you can get a gas car at any local dealership. This is in stark contrast to EVs, which are more difficult and more expensive to purchase. As a result, gas cars are simply the quicker and easier option. 
  • Thirdly, gas-powered trucks can tow longer distances, further contributing to their convenience and utility. Even if towing capacity is not an important feature to you, it's a feature that gas-powered trucks do better than their electric-powered counterparts. 

GET YOUR EV OR GAS CADILLAC AT COLONIAL CADILLAC

Choosing an EV over a gas-powered vehicle (or vice versa) is a matter of preference. If you prefer a zero emissions car to reduce your carbon footprint and help do your part to combat climate change, choose the EV. However, if you prefer the cost savings that come with the traditional gas-powered car, then opt for the gas vehicle. But regardless of your choice, we at Colonial Cadillac are here to help you find the perfect vehicle for you. 

Our team of expert automotive specialists can guide you, step by step, to find your perfect vehicle. Whether you want a gas or electric, new or used car, or to lease or finance, we can meet you where you are. So, if you're ready, contact us today to get your EV or gas Cadillac at Colonial Cadillac.