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How much does an electric car cost a month?
I know that EVs are praised for cheaper fuel rates in most cases, but monthly car payments also include paying for the vehicle, insurance, mechanic visits, etc. how much does an electric car cost per month?
Marlee John · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
If only car payments were just refueling payments! The average monthly payment for a new car in the US is about $600. For EVs, the number can be about the same and more depending on the model and make of the vehicle.
Electric vehicles have significantly lower fuel payments but since vehicle parts are much more expensive to replace insurance is much higher. Fortunately, since EVs have almost 1,980 fewer parts than a traditional-fuel vehicle they don’t have to go to the auto repair shop as often.
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