Thinking of getting an electric vehicle? The federal government’s $7,500 subsidy expires at the end of September. (Though you might not need a subsidy to make the math work.) E.V.s tend to be pricier than comparable gas cars, but they have lower maintenance costs. And charging with electricity is typically cheaper than stopping at the gas pump.
Our calculator takes into account the major upfront and ongoing costs of ownership — gas/electricity and maintenance — and does the math for you, though we don’t include every possible expense or rebate. (We also give you an estimate of greenhouse gas emissions, if money isn’t your only incentive.)
It’s not straightforward to compare buying versus leasing, but leasing an E.V. could be a particularly good deal right now. Hybrids might also be a good money-saving option in the long run, but they mostly don’t qualify for the subsidies.