Hidden Costs of Owning an EV

Owning an EV in the U.S. has hidden costs beyond the sticker—charging (home and public), insurance, depreciation, and sometimes home electrical work. Here's what to budget for.

TL;DR Hidden EV costs include home charger installation ($500–$2,000+), higher insurance in some cases, steeper depreciation on some models, and public charging markups. Factor them into total cost of ownership. Use autopremo.com total cost of ownership and gas vs electric.

Hidden Costs of Owning an EV

• Home charging setup — Level 2 charger and installation can cost $500–$2,000+; electrical panel upgrades can add more. Factor into total cost if you're installing.
• Public charging — if you rely on public fast charging, cost per kWh can be 2–3x home rates; that can erase fuel savings vs gas. Use autopremo.com gas vs electric with your charging mix.
• Insurance — EV insurance can be higher (expensive batteries and repair cost). Get a quote before you buy; factor into total cost. Use autopremo.com total cost.
• Depreciation — many EVs depreciate faster than gas cars; that's a real cost over 5 years. Use autopremo.com depreciation calculator.
• Battery replacement — out-of-warranty battery replacement can cost $5,000–$15,000+. Factor into long-term cost if you plan to keep the car 10+ years.

See total cost at autopremo.com.

What to Do

• Budget for home charging if you're installing; include in total cost. Use autopremo.com.
• Get insurance quote for the exact EV; factor into total cost.
• Use total cost of ownership — include depreciation, charging, insurance, maintenance. Use autopremo.com total cost of ownership.

Get total cost at autopremo.com.

Bottom Line

Hidden EV costs include home charging setup, public charging markups, insurance, and depreciation. Factor them into total cost of ownership. Use autopremo.com to see full cost so you don't underbudget.