As most Americans know, the price of gas is not something we can control. Market volatility that is caused by a variety of conditions can send costs at the gas pump skyrocketing overnight, forcing families to rearrange budgets just to get to work, school or to the grocery store.
But more and more drivers are realizing they can opt out of this cycle altogether. By choosing an EV, they’re choosing electricity as a fuel and costs are not only lower, but also far more predictable. Not to mention, electricity as a fuel is much cleaner and reduces harmful air pollution.
Electric vehicles (EVs) already beat gas-powered cars on total cost of ownership in most parts of the U.S. That’s thanks to cheaper “fuel” (electricity), fewer moving parts, and no oil changes — ever. And with gas hovering around $4 a gallon in many states, those day-to-day savings add up fast.
Not only that, but electricity is also a more stable and more local energy source than gasoline. It’s less vulnerable to international shocks or price manipulation and electricity prices fluctuate far less than gas — offering peace of mind, which is hard to put a price on when it seems like the cost of everything is going up.
Yet, we have to be honest with ourselves: while industry leaders know we need a new EV market to have a used EV market, most Americans aren’t shopping for brand-new cars. Nearly 60% live paycheck to paycheck, and for many, the only choice is to buy used (if at all). That’s where the EV market is starting to really shine.
After more than a decade of growth in new EV sales, we’re now seeing the payoff—a flood of reliable, lower-cost used EVs hitting the market. And thanks to federal programs that are still available until December 2025, and state, local, and utility programs to tap into, there’s help to make them affordable to finance and easy to find. With many used EVs coming in at about $25,000, the pollution-free, all-electric experience is within reach for many.
Recent research shows that EV batteries are outlasting expectations. Regardless of whether the EV is new or used, EV batteries can go the distance for their owners, performing well beyond the 100,000-mile warranty offered by many EV manufacturers. That means a used EV can still deliver years of gas-free, low-maintenance benefits for more people.
The savings available right now are not guaranteed in the future. We need to continue smart, sustained investment in making EVs more accessible than ever before.
The federal government has long subsidized fossil fuels, highways, telecom infrastructure and many other sectors. Now, federal EV tax credits—especially those supporting used EV buyers—are doing the same for a cleaner, more affordable future. But these incentives are only available through the end of the year. Veloz’s EV Incentive Finder Tool by ZIP code can show you more options in your area or geographical location.
States, cities, and local jurisdictions across the country must lead the way with smart policies and targeted incentives that make it easier for more people to drive electric.
Veloz has a track record of delivering EV education programs to keep the EV momentum moving forward—and to make sure it includes the families who need the savings the most, by leveraging its leadership, 40+ members, communications channels, and connections. By helping consumers understand the benefits of choosing an EV for their next purchase, we can speed up Veloz’s Electric For All vision. Look for our new national Electric For All EV education campaign launching in July. We welcome support for this effort and will share educational tools to amplify the benefits of EVs.
EV facts are highlighted, and myths are busted here each month in my Ride to Zero Blog. Sign up here to get the latest news, invitations to events, and announcements on the road to electrified transportation. The way forward is electric!
Resources: