Ranking the least and most expensive electric vehicles to own over a five-year period, MarketWatch Guides provides valuable insights into the costs involved in owning an EV. While EVs, plug-in hybrids, and conventional hybrids can save thousands on gas over their lifetime, there are other factors to consider when assessing their affordability.
**Least Expensive EVs to Own**
According to MarketWatch, the Nissan Leaf emerges as the least expensive EV/ electrified vehicle to run after five years, with an average ownership cost of $18,509. This makes the Nissan Leaf an attractive option for those looking to save on operational expenses. Following closely behind is the Hyundai Elantra Hybrid, with an ownership cost of $20,735. The Kia Niro EV comes in third place at $21,845, while the Honda CR-V Hybrid takes the fourth spot with an ownership cost of $22,165. The Honda Accord PHEV and Toyota RAV4 Prime follow suit with costs of $23,708 and $25,831, respectively. Rounding up the list are the Ford Escape PHEV, Mini Cooper Electric Hardtop, Ford Mustang Mach-E, and Chrysler Pacifica Hybrid, with ownership costs ranging from $27,811 to $33,836.
It’s important to note that MarketWatch’s calculations did not include depreciation when determining these costs. The exclusion of depreciation could significantly impact the rankings, potentially altering the affordability of some vehicles.
**Most Expensive EVs to Own**
On the other end of the spectrum, MarketWatch also examined the most expensive EVs to run over a five-year period. Topping the list is the Porsche Taycan, with a staggering ownership cost of $53,065. This figure is nearly three times higher than that of the least expensive option, the Nissan Leaf. The Audi E-Tron GT closely follows as the second most expensive EV to own at $48,886. The BMW iX takes the third spot, with an ownership cost of $45,076.
Including these high-cost options showcases the wide range of affordability within the EV market. While some EVs can offer significant savings in operating expenses, others come with a higher price tag and should be considered in the context of individual budgets and preferences.
In conclusion, when assessing the cost of owning an electric vehicle, it is crucial to consider more than just the potential savings in gas expenses. MarketWatch’s rankings provide valuable insights into the least and most expensive options based on ownership costs over five years. However, it is important to note that these rankings do not factor in depreciation, which could significantly impact the affordability of different models. Ultimately, prospective EV buyers should conduct thorough research, considering their individual needs and financial circumstances, to make an informed decision about the most suitable and cost-effective vehicle for their lifestyle.