Unless you’ve been out of the country or have been hiding under rock, you’ve probably heard about electric cars. With rising gas prices and concerns about the environment, their popularity is gaining steam. Most Minnesota drivers, like you, want to be wise about investing in a new car and have questions about whether an electric car truly saves you money. If you’ve been thinking about saving by making the switch to an electric car, we’ve got you covered with our top 4 reasons to make the switch

What are they and how do they work?

Before we launch into our top 4 reasons, you may have some questions about how electric cars work. Electric vehicles, also referred to as Battery Electric Vehicles (BEV) use a large battery pack to power the car’s electric motor. They don’t run on gas, but must be plugged into a wall outlet (120V) or a charging station – known as Electric Vehicle Supply Equipment (EVSE) – to be charged and ready to go. Most fully charged vehicles have a driving range of 200 miles.

Electric cars are sometimes confused with hybrid vehicles. Hybrids are similar in that they both use an electric motor. Hybrid cars differ in that they combine their electric motor with a gas engine – so it is not fully electric. Hybrids still run on gas so you’ll still face that sticker shock at the pump. Due to the power of the electric motor plus gas engine, your full tank will last longer and get you further in a hybrid vehicle.

So if you’re on the fence about whether an electric vehicle is right for you, here are our top 4 reasons to make the switch.

Lower running costs

The number one question most car shoppers ask is, “Will an electric car really save me money?” The answer is yes. While it’s a bigger initial investment than a regular car, their running costs are significantly lower. On average, it takes $0.05 per mile to run an electric car vs. $0.15 per mile to run a gas-powered vehicle. When we stretch that out over a year, most electric car drivers save up to $4,000 in running costs. One last way to put more money in your pocket when driving electric? Rebates and tax credits. There is a federal tax credit for electric battery vehicles (depending on the battery capacity), and the Clean Vehicle Rebate Project (CVRP) provides rebate savings for eligible electric vehicles.

Lower maintenance costs for an electric car

Another top reason to make the switch to an electric vehicle is lower maintenance costs. With far fewer moving parts, electric cars don’t require an oil change, new spark plugs, or fuel filters. These cars also feature regenerative braking. The electric motor is used to decelerate the vehicle, which leads to a longer lifespan for your brake pads. It also will lower replacement repairs for you. Lastly, electric cars typically use a lithium battery which can last up to 10 years lowering your need for costly replacements.

Cleaner environment

Electric cars are just cleaner than the environment. Studies have shown that electric cars are 85-90% energy efficient, while gas-powered cars are 17-21% energy efficient. These cars also have no tailpipe so they don’t emit any exhaust gasses while running. With more energy efficiency and reduced air pollution, electric cars are ensuring a bright future for our planet.

Better driving experience with an electric car

Most electric car owners report a better driving experience. The battery pack is positioned in the center of the car which reduces the car’s center of gravity and increases stability. Electric cars also feature quick acceleration and produce peak torque from a standstill. With greater stability and quick acceleration, these cars are fun to drive.

If you’ve been asking yourself whether making the switch to an electric car can really save you money, these top 4 reasons can help you make an informed decision. From lowering your running costs to a cleaner environment, electric cars may be a great investment for your next car purchase.