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Will electric cars save you money? Renault puts it out: EVs against ICE -Cars Automobiles

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Is it safe to call EVs a "bargain" even though they cost a lot more than ICE cars?

Renault Ask the question above and then explain in which drivetrain is really the most cost-effective. The article is broken down into the key points people should consider when trying to figure out the answer to these questions. Should you change to a electric car? Longer term will be one EV costs you extra or you save money.

There are a lot of "this and that" out there when it comes to electric vehicles and whether the investment is financially viable or not. While some information is well researched, bear in mind that there are mixed agendas, making it difficult to find facts on the subject. Although Renault is a big fan and manufacturer of electric vehiclesoften top Euro EV sales – It still has its hand in ICE vehicles, at least temporarily,

On the basis of the above information, we must ask ourselves … why would a company like Renault proceed with a possible full switch to electric vehicles? Let's take a look at what the automaker shared.

Renault admits that giving up another ICE model and buying an electric car is a difficult decision. When buying a car, regardless of the powertrain, you need to consider performance, size, driving dynamics, comfort, design, and more. Today's electric vehicles, unlike many of the past, do a much better job "normal" and to have covered all these bases. Yet for many people, the price is usually a more significant factor than any other.

While many people feel that electric vehicles cost more, Renault explains that there are many factors that could make this thought process untrue. Over time, electric cars become even cheaper due to mass production and falling battery costs.

Tax incentives in Europe and beyond can help offset the price of an electric car. In addition, there are additional financial benefits in some areas, such as free charges, free parking, exemptions, etc.

It's hard to look at the long-term cost of a car and not the price of the sticker. People are more willing to jump on this very low rental or financing rate as well as other incentives at the time of purchase. Finding out what a car can cost over a number of years seems to be less important to many people than the monthly financial impact on their budget.

According to Renault, driving electric cars saves about 20 percent compared to a comparable ICE, mainly because of lower fuel costs. In addition, many homeowners can set a schedule to charge their cars when electricity costs are most favorable. It's not like you could decide to charge your ICE car early in the morning when gas prices go down. That's just not a reality.

Added to this are the reduced maintenance costs for owning an electric vehicle. As mentioned above, there are fewer moving parts, fewer liquids, etc. Renault claims that the maintenance of an EV costs about 25 percent less than that of an ICE vehicle.

In the end, the more you drive your electric car and the longer you own it, the more cost savings you will enjoy. It is important to note that Renault points out that all this still depends on how you drive your car. Energy consumption still depends on driving habits, the number of miles you travel per year, how long you plan to own the vehicle, and when and where you "refuel".

What do you think? Share your findings with us in the comment section below.

Source: Group Renault

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