EV or gas car: what's more cost-effective to own in the long run?

Will a steeper sticker price be worth skipping all those trips to the gas pump?

Electric car vs. gasoline car concept. One holding is holding a gas pump and the other is holding a power connector for an EV.
On the West Coast, an EV is usually more affordable to run; in New England, a hybrid car is most cost effective
(Image credit: Tomwang112 / Getty Images)

If environmental impact were your only consideration when car buying, the choice between an electric vehicle (EV) and a gas vehicle would be easy. But for many buyers, there is also the very important factor of cost.

The cost of gas is a frequent complaint for many drivers — but then again, the price of a gas-less electric vehicle, or EV, is not so cheap either. You may wonder if, over time, that steeper sticker price will offset those trips to the gas pump. And that is not the only factor you'll want consider in determining whether an EV or a gas car makes the most sense for your wallet.

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Becca Stanek, The Week US

Becca Stanek has worked as an editor and writer in the personal finance space since 2017. She previously served as a deputy editor and later a managing editor overseeing investing and savings content at LendingTree and as an editor at the financial startup SmartAsset, where she focused on retirement- and financial-adviser-related content. Before that, Becca was a staff writer at The Week, primarily contributing to Speed Reads.