What are the cheapest, priciest states for EV ownership? |
What are the cheapest, priciest states for EV ownership?
(NEXSTAR) – With the price of gas hitting a four-year high over Memorial Day weekend, car shoppers may be considering switching to electric – but where you live can still make a difference when it comes to the cost of owning an EV.
A new study by personal finance platform MoneyLion broke down the average six-year ownership cost by state, which included the annual charging costs, auto loan and interest.
The top five cheapest states all had one thing in common – no sales tax. Delaware was cheapest, followed by Oregon, Montana, New Hampshire and Alaska, respectively.
The study used an average EV price of $55,211 and assumed a 13.5% down payment ($7,453), and then found the 6-year total cost including charging and loan with interest.
Editor’s note: Costs may vary over time
The annual charging cost, based on an assumed 1,000 miles per month and a 245-mile average charge, also varied significantly by state – Kansas........