Electric Car vs Gas Costs: Which Truly Saves You The Most Money?

With so many signs pointing to the future of driving being electric, it’s more important than ever to understand electric vs gas car costs. The U.S. government is getting on board too by building charging stations nationwide and offering tax credits up to $7,500 for purchasing a new EV. Almost every major automaker has already invested billions of dollars into expanding their electric-vehicle lineups. The price of the all-important electric battery has been dropping over the years as well, making them more affordable each year. In fact, Morgan Stanley predicts that 72% of all car sales will be electric by the year 2040. Within 20 years, it will probably be difficult to actually buy a new car that still runs on plain ol’ gasoline and with gas pricing climbing its likely to become more expensive to do so as well. Until that day comes though, the debate between electric cars vs gas-powered vehicles rages on: which one will save you the most money overall? That’s why WalletGenius dug in and looked at all the costs associated with vehicle ownership and compiled it into this infographic to help you save time and money.