In this modern age, for any family living in an urban area, transportation is the second largest expense after housing and household expenditures. Most people own gasoline powered automobiles and they incur a number of expenses in the form of insurance, fuel, service and maintenance charges. But this can be considerably reduced by switching over to affordable electric cars or plug-in hybrid vehicles because of their relatively lower operational costs. Shared below are the different ways these vehicles help you to save money, read on to know more.
One of the biggest advantages of electric vehicles (EVs) and electric hybrid cars is that their operational cost is half as much as gasoline powered vehicles. So, you can travel the same distance at a lower price using EVs than using normal internal combustion engine cars. Besides, the price of electricity is stable compared to fuel prices,. This means that electric cars are budget friendly and you can make informed budget allocation for them in the household expenditure. Above all, the battery technology and the software used in these vehicles are improving, and thereby increasing the efficiency of EVs.
Plug-In Electric Hybrid Cars
One issue that EV owners face is range anxiety i.e. the worry about electric cars running out of battery power when travelling. For such people, electric hybrid cars are a suitable option, as it uses gasoline engines along with electric engines. So, in the event that the battery runs out of power, the plug-in electric hybrid car will automatically switch to the gasoline engine. Also, these vehicles use fuel more efficiently i.e. 30 to 60% less than conventional gas powered cars. Moreover, they use regenerative braking to charge the battery, and thereby reduce the charging cost. Above all, they function like hybrid vehicles when running on an internal combustion engine.
Affordable electric cars and plug-in electric hybrid cars have lower maintenance and service charges than conventional gasoline powered cars. This is because they have fewer mechanical parts. As a result, they are easier to maintain. Also, the use of regenerative braking reduces the stress on brake pads as it uses the electric motor for much of braking. When it comes to electric hybrid cars, the wear and tear on the engine is less because of its lesser usage. This means, it requires less coolant and oil for keeping the engine in working condition. However, one issue with electric vehicles is that there is more wear and tear of the tyres because they are heavier compared to conventional gas powered cars.
These are some of the major ways affordable electric cars and plug-in electric hybrid cars help you save money on transportation expenses.