The Pros and Cons of Electric Cars

Bank Rate's take on the supposed pros and cons of electric cars with the cons clearly weighted against the pros.

Published: 20-Jan-2011

A lot of recent car shows, including the recent Detroit auto show, have showcased automakers' push to bring practical, fully electric cars to market. With one new all-electric vehicle already for sale from Nissan and with others on the way from Ford, Volkswagen, Honda, Toyota, Mercedes and Fiat in 2011 and 2012, I thought it might be worth looking at some of the pros and cons of electric cars as they now exist.

Pros:

Cheap fuel. Nissan estimates it will cost approximately $2.75 at average utility rates to charge its Leaf from empty to full. The Leaf has a range of around 100 miles, a distance that would cost about $10 to drive in a compact car getting 30 mpg (3.33 gallons x the average gas price of $3.089). That gap will become even wider if gas prices rise in the coming years.

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