Electric vehicles (EVs) and plug-in hybrids have become increasingly popular in recent years due to their environmentally friendly nature and potential cost savings on fuel over their lifetime. MarketWatch Guides recently ranked the least expensive electric vehicles to own over a five-year period, taking into account factors such as gas/charging costs, insurance, and finance costs. In this article, we will explore the top 10 least expensive electric cars to operate over five years, as well as touch on the most expensive options to run.
The Nissan Leaf came in at the top spot as the least expensive EV/electrified vehicle to run over five years, with an average cost of $18,509 in ownership expenses. Following closely behind are the Hyundai Elantra Hybrid, Kia Niro EV, Honda CR-V Hybrid, and Honda Accord PHEV. These vehicles offer a compelling balance of affordability and efficiency for budget-conscious consumers looking to make the switch to electric.
The list also includes options like the Toyota RAV4 Prime, Ford Escape PHEV, Mini Cooper Electric Hardtop, Ford Mustang Mach-E, and Chrysler Pacifica Hybrid. These vehicles offer a range of features and capabilities, catering to different preferences and needs. It’s worth noting that MarketWatch did not include depreciation in their calculations, which could significantly impact the overall cost of ownership for these electric vehicles.
On the other end of the spectrum, the most expensive EV to run was the Porsche Taycan, costing $53,065 over five years. This was followed closely by the Audi E-Tron GT and the BMW iX, which also come with higher ownership costs compared to the more affordable options on the list. Despite the higher upfront costs of these vehicles, they may still be worth considering for consumers who prioritize performance and luxury features.
Overall, the shift towards electric vehicles and plug-in hybrids is evident in the market, with more options available to consumers at varying price points. By considering factors beyond just fuel savings, such as insurance and maintenance costs, individuals can make informed decisions about which electric vehicle best suits their needs and budget. In the following sections, we will delve deeper into the features and costs associated with each of the top 10 least expensive electric cars to own over five years.
Nissan Leaf: $18,509
The Nissan Leaf stands out as the most affordable electric vehicle in terms of ownership costs over a five-year period. With a price tag of $18,509, this compact car delivers impressive efficiency and range on a budget. The Nissan Leaf offers a comfortable interior, user-friendly technology features, and strong safety ratings, making it a practical choice for daily commuting and running errands. Additionally, its low operating costs and minimal maintenance requirements contribute to its overall affordability, making it an attractive option for eco-conscious consumers looking to save on fuel expenses.
Hyundai Elantra Hybrid: $20,735
The Hyundai Elantra Hybrid offers a blend of fuel efficiency, comfort, and value for money, making it an excellent choice for budget-conscious consumers. Priced at $20,735 over five years, this hybrid sedan boasts impressive gas mileage, a spacious interior, and a generous list of standard features. The Hyundai Elantra Hybrid comes equipped with advanced safety technologies and intuitive infotainment systems, enhancing the overall driving experience for owners. With its affordable ownership costs and reliable performance, the Hyundai Elantra Hybrid stands out as a practical and stylish option in the electric vehicle market.
Kia Niro EV: $21,845
The Kia Niro EV combines eco-friendly driving with practicality and affordability, making it a standout option for consumers looking to go electric. With an ownership cost of $21,845 over five years, this compact SUV delivers impressive range, ample cargo space, and a comfortable cabin for passengers. The Kia Niro EV features a sleek exterior design, user-friendly technology interfaces, and a smooth ride quality that enhances the overall driving experience. Additionally, its low operating costs and excellent warranty coverage make it a compelling choice for individuals seeking a reliable and cost-effective electric vehicle.
Honda CR-V Hybrid: $22,165
The Honda CR-V Hybrid offers a balance of fuel efficiency, versatility, and reliability, making it a top contender in the hybrid SUV segment. Priced at $22,165 over five years, this hybrid SUV delivers a spacious interior, refined driving dynamics, and a host of advanced safety features. The Honda CR-V Hybrid comes equipped with a responsive powertrain, user-friendly infotainment system, and ample cargo space, making it a practical choice for daily driving and family outings. With its affordable ownership costs and strong resale value, the Honda CR-V Hybrid is a smart choice for consumers in search of a dependable and efficient electric vehicle.
Honda Accord PHEV: $23,708
The Honda Accord Plug-In Hybrid offers a blend of performance, efficiency, and sophistication, making it an attractive option for consumers seeking a premium driving experience. Priced at $23,708 over five years, this plug-in hybrid sedan combines a powerful electric motor with a fuel-efficient gasoline engine to deliver impressive performance and range. The Honda Accord PHEV features a luxurious interior, advanced technology features, and a smooth ride quality that enhances the overall driving experience. Additionally, its affordable ownership costs and strong reliability ratings make it a compelling choice for individuals looking for a stylish and eco-friendly electric vehicle.