Beyond the Sticker Price: The Hidden Costs of Owning an EV
Walk into any coffee shop in California, and you’ll overhear someone talking about their Tesla. Electric Vehicles (EVs) are the future, undeniably. They are fast, fun, and produce zero tailpipe emissions. But are they saving you money? The answer is complicated.
While you save money on gas, other costs can creep up on you. If you are considering the switch in 2026, here is the reality check.
Insurance Sticker Shock
This is the surprise that hits most new owners. Insuring an EV in the US can cost 20% to 30% more than a gas car. Why? Because they are expensive to fix. If you dent the bumper of a Rivian or a Model Y, it often requires specialized labor and expensive parts. Insurers pass that risk to you.
The “Home Charging” Requirement
The “savings” of an EV mostly exist if you charge at home.
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Home Charging: Cheap (about $10-$15 for a full “tank”).
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Public Supercharging: Expensive. Rates have risen to match gas prices in some states. If you live in an apartment without a charger, owning an EV is inconvenient and surprisingly pricey.
Tire Churn
EVs are heavy. The battery pack adds thousands of pounds. This weight, combined with the instant torque (acceleration), chews through tires. Many EV owners report needing new tires every 20,000 to 25,000 miles, compared to 50,000 miles for a Toyota Camry. And EV-specific tires aren’t cheap.
The Good News: Maintenance
Here is where EVs win. No oil changes. No spark plugs. No transmission fluid. No timing belts. The drivetrain is incredibly simple. Over 100,000 miles, you will likely spend far less on repairs than a gas car.
Buy an EV if you have a garage, a charger, and love the tech. Don’t buy one just to save pennies, because the upfront costs might eat your savings.
