Even if monthly installments are higher, a plug-in vehicle can end up costing 10% to 20% less because of reduced energy and maintenance costs.
Among the savings on usage-related costs, savings on energy costs are the most significant.
Energy costs for an electric vehicle are generally cut by more than 75%.
Compared with a vehicle consuming 8 L/100 km, an EV driver will have saved $1,600 after 20,000 kilometres.
In addition to saving money on energy, EV drivers also save on vehicle maintenance costs, particularly on oil and brakes.
Reduced energy and maintenance costs mean that even if monthly installments are higher, a plug-in vehicle can end up costing 10% to 20% less!
Use our "Savings per 20,000 km" indicator, calculated for each model, to visualize the savings you could make compared to a gasoline vehicle of the same category.
This indicator was calculated taking into account energy costs and two maintenance operations (oil and brakes).
The Québec and Canadian governments provide rebates to individuals, businesses, organizations and municipalities for the purchase or lease of an electric vehicle. These rebates can go up to $13,000 for a new vehicle.
The ideal battery size depends on your transportation habits.
A battery with a larger capacity than necessary for your actual travels will be difficult to justify financially, since savings are mostly proportional to the number of kilometres travelled.
The subsidy offered by the Québec government absorbs some or all of the additional cost of a plug-in vehicle’s acquisition. The difference, if any remains, will be absorbed after a certain number of kilometres travelled thanks to vehicle usage-related savings.
This number of kilometres is the price equivalency point, calculated for each plug-in vehicle.
The first modern plug-in models entered the market in 2011-2012. The supply of second-hand vehicles is now growing and becoming more diverse every year.
According to a study conducted by Consumer Reports in 2017, electric vehicles are more reliable than those equipped with a combustion engine.