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Which is cheaper, an electric or a gas car?

I currently drive a gas-powered car, but I’ve been thinking about switching to an electric car for the savings I could get on fuel. Which is cheaper, an electric or a gas-powered car?

Allison Stone · Updated on Oct 13, 2022

Reviewed by Shannon Martin, Licensed Insurance Agent.

That’s a great question. Electric cars tend to be more expensive overall than gas-powered cars, but the savings come later in fuel and repair expenses.

Right now, the average price of an electric car in the U.S. is about $66,000. That’s about a 13% increase from 2021, but it’s right in line with an overall increase in car prices from 2021, which is currently at about $48,000.

So, overall, buying a gas-powered car could be cheaper upfront, but an electric car could be a better investment over time.

If you want to learn more about some less expensive electric cars, check out our picks for

best affordable electric cars

.

If you’re shopping around for an electric car and want to save money on your

plan, download the

app.

A licensed broker that offers end-to-end support, Jerry gathers affordable quotes, helps you switch plans, and will even help you cancel your old policy. The average user saves over $800 per year!

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