When considering switching to an electric car, a common question arises: is electric driving more expensive than gasoline? Often, we hear that electric driving is cheaper and better for the environment. We all want to drive cost-effectively and ensure that electric driving is truly more affordable. In order to determine this, it is important to compare all the costs associated with a car and the decision to buy or lease a car. We’ve done the research for you, and in this blog, you’ll find all the details.
Purchase price of the car
To determine if electric driving is more expensive than gasoline, it’s crucial to assess the purchase price. When buying a car, it’s important to know the cost of both new and used models. We’ll compare the costs of electric cars with those of gasoline cars.
Price of new gasoline cars
A gasoline car is still cheaper to purchase than an electric car. A new gasoline car can be bought for an average of €33,000, which is €18,000 less than the average purchase price of an electric car.
Price of a used car
The price of a used car varies widely and is influenced by factors such as the make and model, age, mileage, and overall condition of the vehicle. Maintenance history and additional features can also affect the price. Buying a used car can often be a smart choice, as it provides a cost-effective alternative to new cars, with lower depreciation costs and a wide range of available models. However, it’s important to conduct a thorough inspection and, if possible, review the full maintenance history to avoid unexpected costs. Need help with this? Contact one of our advisors.
Used electric cars
Curious about the cost of a used electric car? Our prices for used electric cars start at €13,950. If you prefer to pay monthly, we also offer financing options starting from €193 per month. Although the purchase price of a used electric car is often higher than that of a used gasoline car, electric driving offers substantial long-term financial benefits due to lower running and maintenance costs.
Used gasoline cars
If the purchase price of an electric car seems too high, you can find used gasoline cars starting at €5,954, or €82 per month. This is the most affordable option for buying a car and is therefore a popular choice for many. However, if you want to save in the long run, considering a used electric car is worthwhile. Electric driving is generally cheaper than gasoline driving when it comes to operational and maintenance costs. Here’s why.
Charging your car
Assuming you have an average electric car with a 60 kWh battery, a full charge would cost you around €30 (based on €0.50 per kWh). With a full battery, you can usually drive 300 kilometers, which translates to about 10 cents per kilometer. For someone driving 15,000 kilometers annually, charging costs would amount to about €1,500 per year.
Tip: Check the charging rates in your charging card’s app before charging. This way, you are always aware of current rates and can avoid unexpected costs.
Home charging costs
When charging at home via a charging station or a regular outlet, the costs are based on your energy supplier’s rates, which can fluctuate due to varying energy prices.
For an example, let’s use an average rate of about €0.42 per kWh (based on 2022 prices). With a 60 kWh battery and a range of 300 kilometers, a full charge costs about €25 (€0.42 x 60 kWh), resulting in a cost of around 8 cents per kilometer. If you drive 15,000 kilometers annually, your home charging costs would be about €1,260.
Filling up a gasoline car
In the Netherlands, there are thousands of gas stations where gasoline prices often fluctuate based on oil prices and taxes. The price of gasoline generally ranges from €1.70 to €2.20 per liter.
For an average gasoline car with a 50-liter tank, filling it up costs between €85 and €110 (based on an average price of €1.95 per liter). With a full tank, you can drive about 600 kilometers, which means a cost of around 15 to 18 cents per kilometer. If you drive 15,000 kilometers annually, your gasoline expenses would range from approximately €2,250 to €2,700 per year.
Tip: Many gas stations offer loyalty programs that can provide discounts on fuel prices. It’s worth using these programs to lower your gasoline costs.
So, Is electric driving more expensive than gasoline?
No, generally speaking, it is not more expensive. Although the purchase price is often higher, electric driving can be cheaper in the long run due to lower maintenance and fuel costs.
