You can now buy a new electric car for under thirty thousand dollars. The Nissan Leaf starts at about thirty thousand with over three hundred miles of range. The Chevy Bolt is coming in just under twenty-nine. These aren't concept cars. They're on dealer lots.

That's close to what a new gas car costs. But the real difference shows up over time. Electricity costs roughly four cents a mile to drive. Gasoline costs twelve to fifteen. That's a thousand dollars a year or more in fuel savings. There are no oil changes, no transmission service, and brake pads last two to three times longer because the motor does most of the braking.

Add it up over five years, and an EV can cost eight to twelve thousand dollars less to own than a comparable gas car — even if the sticker price is similar. The upfront price gets the headlines. The running cost is where the math actually happens.

Learn More

Affordable EVs are here now. The redesigned 2026 Nissan Leaf starts at $29,990 with 303 miles of EPA range. The new 2027 Chevy Bolt arrives mid-2026 at $28,995 with 255 miles of range. Both use NACS charging ports, meaning they can access Tesla's Supercharger network. (Autoblog; CarGurus)

More options under $40K: The Chevy Equinox EV ($35,000, 319 miles), Hyundai Ioniq 5 (reduced to $37,500, 318 miles), and Kia EV3 (~$35,000, 300+ miles) all offer competitive range and features. (Sierra Club)

The federal tax credit is gone — but deals abound. The $7,500 federal EV tax credit expired September 30, 2025 under the OBBBA. However, automakers are offering discounts of $7,500-$10,000 on many models, and dealers are sitting on 130 days of EV inventory. (Autoblog)

The fuel cost math: Electricity costs roughly $0.04 per mile to drive. Gasoline costs $0.12-0.15 per mile. That's $1,000-1,500 per year in fuel savings alone. (DOE/fueleconomy.gov)

Maintenance savings are significant. No oil changes, no transmission service, no spark plugs. Brake pads last 2-3 times longer because regenerative braking does most of the work. Total maintenance savings: roughly $800-1,200 over three years compared to a gas vehicle.

Total cost of ownership: Over five years, an EV can cost $8,000-12,000 less to own than a comparable gas car — even at a similar sticker price. Consumer Reports total cost of ownership studies have consistently found EVs cheaper to own over time.

The used EV market is booming. A wave of lease returns from 2023-2025 is flooding dealer lots with low-mileage EVs at steep discounts. Used EV sales were up 12% in Q1 2026. (Autoblog)

Related Civic Minute segments: EVs in a Wisconsin Winter (CM-36), The Sun Doesn't Send a Bill (CM-30)