Are electric cars really cheaper in the long run?

If you’re feeling the pinch of rising fuel prices, you’re not alone. It’s hard to miss how much gas prices have gone up lately, especially if you’re driving often. At the same time, you’ve likely seen more electric cars on the road, as people look for ways to save. With gas prices going up, it makes sense why EVs are gaining popularity: they don’t rely on fuel, so the “savings” seem obvious. But can they really help reduce costs over time? Here are five reasons why EVs could be the more affordable option in the long run.

One of the more obvious reasons EVs can be cheaper in the long run is the money saved on fuel. Instead of paying for gasoline, which fluctuates in price and can add up really quickly, EVs rely on electricity, which generally costs less. For example, the GWM Ora 03 EV offers a range of up to 400 kilometers, which is quite a lot for most daily drives. Charging this EV at home is often much cheaper than frequent trips to the gas station. So, over months and years, the savings on fuel alone can be a huge benefit for EV owners.

EV owners enjoy more consistent energy costs, even with fluctuations in electricity rates, which can help with budgeting for the long term, making EVs a good option for those looking to cut down on monthly expenses. With the rising cost of gasoline, the savings on fuel alone can make a switch to EVs a good move financially.

Unlike gasoline cars, EVs do not have the usual car engines, meaning they skip the regular maintenance requirements of gasoline cars, like oil changes, spark plug replacements, and timing belt fixes. The Nissan LEAF and GWM Ora 03 EV, for example, are made to require less frequent servicing because they do not really rely on the same engine mechanics, which can lead to fewer visits to the repair shop and less money spent on parts and labor over time. 

EVs mostly need battery checks and occasional electric part servicing, which are generally cheaper. For anyone who wants to avoid unexpected repair bills, the simpler structure of EVs gives a clear advantage, helping to keep overall ownership costs down. However, if you’re the type of person who prefers a ‘talyer’ over a dealership shop, owning an EV might take some getting used to, as only a limited number of mechanics currently have the knowledge and experience to service electric vehicles.

While some EVs may be priced higher than gasoline cars, they can make up for it with lower expenses over the years. The Hyundai IONIQ 5 N, priced at P4,250,000, might have a higher initial price, but it comes with an 84 kWh battery that helps reduce fuel and maintenance expenses. EVs like the IONIQ 5 N are made to be efficient, powerful, and low-maintenance. So, even if the initial price might seem high, the ongoing costs are often much lower compared to gasoline cars. Reduced fuel and maintenance costs mean that, over the years, an EV can actually cost you less overall. 

Now, some EVs come with a higher price, yes, but there are also affordable options that offer the benefits of electric driving without the big upfront expense. The recently launched BYD Seagull, for example, priced at P898,000, is one of the more budget-friendly options and comes with a range of 300 kilometers, making it easier for drivers to switch to electric while still enjoying features that keep driving convenient and efficient.

For anyone who is looking to lower their driving costs without spending a lot, models like the BYD Seagull give you a lot of features without the hefty price tag. Affordable EVs let more people try out electric driving and start enjoying lower fuel and maintenance costs right away.

Wouldn’t it be nice to skip the gas station altogether? With EVs, you can. Another advantage of EVs is that they can charge at home, which can be both convenient and cost-effective. Cars like the Kia EV6, which can be fully charged overnight, make it easy to avoid gas stations altogether. For those with busy schedules, having the option to charge at home means no need for extra stops on the way to work. Plus, at-home charging can be less expensive than filling up at the pump, allowing for more predictable monthly energy costs.

For drivers who travel frequently, public charging stations provide quick-charging options, with many EVs reaching 80 percent charge in under an hour. The flexibility to charge at home or on the road makes EVs easier to use and lets you save both time and money. It’s a benefit that adds convenience and cost savings to everyday life with an EV.

While these are just some of the perks of owning an EV, the choice really comes down to what works for you. With rising gas prices, EVs are starting to make a lot more sense for saving money. The best part? You can now find plenty of EVs in the Philippines, all available on AutoDeal! If you’re not ready to go fully electric, hybrids are a great option to start with. Shop the latest models with ease and compare your favorites—quick, easy, and without any hassle.