14 Lesser-Known Expenses of Owning an Electric Car

Electric cars are becoming more popular as people look for greener ways to get around. While many know about the main costs of owning an electric car, like buying the car itself and charging it, other expenses often get overlooked. These hidden costs can surprise new electric car owners and impact their budgets. In this article, I highlight 14 lesser-known expenses of owning an electric car.

Home Charging Station Installation

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Setting up a charging station at home can be pricey. You need to hire an electrician to install the right wiring and equipment. This can cost anywhere from a few hundred to a few thousand dollars. The exact price depends on your home’s electrical system and where you want to put the charger.

Increased Electricity Bills

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Charging your car at home will increase your electricity bills. How much they increase depends on how often you charge and your local electricity rates. Some people find their monthly bills go up by $30 to $60 or more. It’s a good idea to check your area’s electricity prices before buying an electric car.

Battery Replacement

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Electric car batteries don’t last forever. After several years, they may need to be replaced. This can be very expensive, often costing thousands of dollars. While many car makers offer long warranties on batteries, you might still need to pay for a replacement eventually.

Specialized Tires

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Electric cars often need special tires. These tires are made to handle the extra weight of the battery and to reduce road noise. They can be more expensive than regular tires and may need to be replaced more often. This can add up to a significant cost over time.

Higher Insurance Premiums

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Insurance for electric cars is often more expensive than for gas cars. This is because electric cars cost more to repair or replace if they get damaged. Some insurance companies charge up to 20% more to insure an electric car compared to a similar gas-powered model.

Software Updates

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Many electric cars need regular software updates to work properly. While some of these updates are free, others might cost money. You may need to pay for new features or improvements to your car’s system. These costs can add up over time.

Charging Station Memberships

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If you plan to use public charging stations often, you might need to buy memberships or subscriptions. Different charging networks have their own payment plans, and the costs can vary depending on how much you travel and where you need to charge your car.

Winter Range Reduction

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In cold weather, electric car batteries don’t work as well. This means your car won’t go as far on a single charge. You might need to charge more often in winter, which can increase your charging costs. Some people also use more energy to heat their cars, which can further reduce the range.

Portable Charger

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It’s a good idea to have a portable charger for emergencies. These chargers can be expensive, often costing several hundred dollars. While you might not use it often, it’s an important safety item to have in your car, especially for long trips.

Higher Registration Fees

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Some states charge higher registration fees for electric cars. This is because these cars don’t pay gas taxes, which help fund road maintenance. The extra fees can be anywhere from $50 to $200 per year, depending on where you live.

Charging Adapter Costs

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Different charging stations use different types of plugs. You might need to buy adapters to use various charging stations. These adapters can cost from $50 to $300 each. If you travel a lot, you might need several different adapters.

Scheduled Maintenance

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While electric cars generally need less maintenance than gas cars, they still require regular check-ups. These service appointments can be more expensive because they need special technicians. You might have to take your car to a dealership instead of a local mechanic, which can cost more.

Home Electrical Upgrades

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Your home’s electrical system might need upgrades to handle the extra power needed for car charging. This could mean installing a new circuit breaker or even upgrading your entire electrical panel. These upgrades can cost thousands of dollars, depending on how much work is needed.

Reduced Resale Value

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Electric car technology is changing quickly. This means older models can lose value faster than gas-powered cars. When it’s time to sell your electric vehicle, you might get less money for it than you expected. This is an important factor to consider when thinking about the long-term costs of owning an electric car.

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Mary Apurong

Mary Apurong is an experienced editor and ghostwriter who enjoys writing and reading. She loves researching topics related to life and creating content on quotes, gardening, food, travel, crafts, and DIY. Mary spends her free time doing digital art and watching documentaries.

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