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How long does it REALLY take to save money on an electric car? They’re more expensive to buy but supposedly cheaper to run yet experts warn it can take up to a DECADE to break even - as EV drivers say they regret investing
- Premiums for electric cars tend to be higher than for gasoline models, but maintenance and fuel costs are often lower
- The car's efficiency and gas or electric prices where you live are crucial factors
- Motorists can claim back up to $7,500 in tax credits when they buy one of ten new electric or plug-in hybrid cars
The US is in the middle of an electric car revolution. This week, Tesla announced a record surge in sales in the second quarter of the year - delivering 446,140 cars worldwide in the three months leading up to June, outdoing its own prediction of 445,000.
Business has been bolstered in the US by federal tax credits for electric vehicles that have made them more accessible than ever for Americans.
Electric cars are much more expensive to buy, but usually cheaper to run - as maintenance and fuel costs can fall substantially with an eco car.
However experts are warning that it takes an average of six years to break even on a purchase - and it can take up to a decade for the premium to pay off.
Customers are also taking to social media to express their regret at their EV purchase, with difficulties tracking down charging spots and unexpected costs. So how long does it really take to save money on an electric car - and is it worth the price?

How long does it REALLY take to save money on an electric car?
But experts warn it is important to be aware of other hidden costs - including higher insurance premiums - before plumping for an EV.