EV Cost & Maintenance
EV Cost & Maintenance Benefits
Lower Fuel Costs
Charging an EV is generally much cheaper than filling up a gas tank, especially with access to home charging options.
Less Maintenance
EVs have fewer components, like no need for oil changes or transmission servicing, which reduces maintenance costs over time.
Longer Lifespan of Brakes
Regenerative braking systems in EVs reduce wear and tear on brakes, meaning less frequent brake replacements.
Government Incentives
The federal and provincial government offer rebates and incentives on the purchase price of EVs, further reducing costs.
Environmental Impact
Besides cost savings, EVs offer the benefit of reducing your carbon footprint by using cleaner energy sources compared to gas vehicles.
What is the CAA Driving Cost Calculator?
The CAA Driving Cost Calculator is an online tool designed to help drivers understand the total cost of vehicle ownership, whether it’s an electric vehicle or a gas-powered vehicle. By inputting details such as your province, driving habits, and vehicle type, you can get an estimate of what you’ll spend on fuel or electricity, maintenance, insurance, and other expenses. For EV owners or potential buyers, this tool is particularly helpful in seeing the savings you’ll gain over time, especially when comparing costs to gas vehicles.
The main costs for electric vehicles include the purchase price, electricity costs for charging, maintenance, and insurance. However, EVs often have lower ongoing maintenance costs because they don’t have as many moving parts as gas-powered cars, and don’t require services like oil changes, transmission repairs, or exhaust repairs. Key maintenance for EVs usually includes tire rotations, brake checks, and battery health assessments.
