Electric Vans: The Cost of Ownership
When budgeting for a vehicle purchase, it’s important to take a long-term approach. After all, the initial asking price is only the beginning. There are several other factors that go into the cost of ownership.
Below we break down the cost of ownership for electric vans. For more information or to shop electric vans for sale, contact the experts at Creative Bus Sales. We proudly serve those throughout the United States.
A QUICK NOTE
While having precise numerical estimates would be ideal, it’s difficult to get exact figures. There’s a lack of historical data regarding the costs of electric vehicles given that they are a newer option on the market. Plus, the variety of electric vehicles and hybrid vehicles leads to a wide range of cost estimates.
We’ve created the following article with the best available information, but our expert staff is happy to chat with you further about estimated costs for specific electric van models.
1. THE INITIAL STICKER PRICE OF AN ELECTRIC VAN
Electric vans tend to see higher asking prices than their gas-powered counterparts. However, the manufacturing of electric vehicles is getting more affordable over time. The continued reduced costs of manufacturing helps lead to continued reduced asking prices of electric vans.
There can also be local, state, or federal tax benefits available for purchasing an electric van, which helps reduce the initial purchasing cost.
2. THE FUEL COSTS
It often costs a few dollars in electricity to fully recharge an electric van. The cost can be even lower when charging is done overnight when electricity demand is lower.
3. THE MAINTENANCE COSTS
Electric vans usually have low maintenance costs for a few reasons.
First, there are certain tasks that won’t be needed, such as oil changes.
Second, they lack certain parts, such as an exhaust system, which reduces the need for parts replacements.
Third, there are even some tasks that are needed less often. The regenerative effect of the electric motor slowing down the vehicle, for example, leads to a reduced need for brakes service.
However, there is one large maintenance cost associated with electric vans: battery replacement. The cost to replace an electric vehicle’s battery can be around $10,000.
5. ELECTRIC VEHICLE INCENTIVES
There are available incentives that help further reduce the cost of electric van ownership. Some places, for example, offer parking discounts and free-charging options.
6. RESELL COSTS
Electric vans can see faster depreciation, depending on the given model. However, future demand for electric vehicles could exceed what companies are able to manufacture, which can help increase the resale value of an electric van.
Ready to shop electric vans for sale? The friendly staff at Creative Bus Sales can help you find the perfect model to match your budget. Reach out today!