Electric Cars vs. Gas Cars: Everything You Need to Know

7/29/2021

Buying a car these days isn’t as easy as it used to be. On top of all the makes and models, you have to decide whether you want a gas or electric vehicle. Before you head to the dealership, continue reading to stay informed about buying a gas-powered car versus an electric car.

The different types of electric vehicles

We should start by noting that there are several types of electric vehicles (EVs) out there. Battery-electric vehicles (BEVs) are powered solely by electricity, plug-in hybrid electric vehicles (PHEVs) run on both electricity and gas and hybrid electric vehicles (HEVs) rely mostly on gasoline, but they also have an electric battery that assists the gas engine to reduce fuel costs.

 

Cost of ownership

The biggest difference between gas-powered versus electric cars is their cost. EVs typically have a higher sticker price at the car lot, but the prices are getting lower as the vehicles become more common and less expensive to manufacture.

The initial price isn’t all you need to consider. The average cost to fill up a gas vehicle is approximately $40. The cost to fully charge an EV depends on where the electricity is coming from, but the national average is just under $7.

In addition to their lower fuel costs, EVs are cheaper to maintain and repair. This, of course, depends on the make and model you drive and the auto shop you take your vehicle to for service.

Environmental impact

One of the main cases for choosing an electric car is that they’re more environmentally friendly. The largest source of carbon dioxide emissions in the U.S. comes from transportation. Because EVs don’t rely on as much (or any) gas, they have a much smaller carbon footprint than their gas-powered counterparts.

For example, the fully-electric Nissan Leaf produces under 200 grams of carbon dioxide emissions per mile, while the Toyota Sequoia SUV emits over 800 grams of carbon dioxide per mile.

Get your auto loan from Emory Alliance Credit Union

Regardless of the type of vehicle you want, be sure to visit Emory Alliance Credit Union for your auto loan. Here are a few reasons to come to us:

  • Easy pre-qualification: Getting pre-qualified to buy a new by applying on our website.
  • Competitive rates: Your rate varies depending on your current financial situation. Emory Alliance Credit Union offers low rates and flexible terms.
  • Mechanical repair coverage available: Another reason to work with us is our mechanical repair coverage (MRC) option. This coverage offering can help pay for repair and maintenance costs to help keep more money in your wallet.

Whether you’re choosing an electric car or a gas-powered vehicle, visit Emory Alliance Credit Union today to secure your auto loan!



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