We are all trying to find ways to save some extra money, particularly when it comes to transportation. If you are in the market for a new car, you may be looking at some electric vehicles in the hope of reducing the amount of money you spend on gas, but don’t rule out traditional fuel cars because that can actually be the most financially sound ride.
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GOBankingRates pits two of these cars against each other to find out which one actually saves you money when it comes to filling their respective batteries and tanks. With the help of JustAnswer auto expert Chris Pyle, here’s a breakdown of what it costs to charge a Tesla each month compared to using gas to run a Chevrolet Trax in the same amount of time.
Millage
On average, Americans drive 12,000 miles a year, according to Pyle, who estimated that puts drivers at about 1,000 miles a month.
“Tesla averages 330 miles on a full charge,” Pyle continued to describe. “Factors are the condition of the road, your speed, your driving style, and the ambient air temperature. Basically, a Tesla requires three full charges to drive for a month. The Chevy Trax gets about 30 miles to a gallon. So you’ll need 33.3 gallons to drive for a month.”
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Traditional gas
In Tennessee, where Pyle lives, a gallon of 87 octane is $2.64, which is slightly below the national average of $3.04 per gallon as of Oct. 29 based on calculations by AAA Fuel Prices. Pyle added that the cost of fuel in the Chevy Trax will be approximately $88 per month.
“This number will vary throughout the year as gas prices rise [or] down, and in different places where gas prices are much higher per gallon,” Pyle said.
Electric Charging
Pyle noted that the Tesla can be charged at home or at a charging station, and that electricity rates also vary depending on the time of day and where you live.
“It’s cheaper to charge at home if you have a charging station,” Pyle emphasized. “The average household electricity rate is $0.17 per kWh. So at home, a full charge is about $18. [to] $22. That would be $60 a month. At a charging station, the average fee is $0.25 per kWh. So that would be about $38 [to] $42 for full payment. That would be $120 a month.”
Conclusion
Assuming the Tesla is charged some at home and some at superchargers, Pyle’s math showed it would cost a driver $90 to drive 1,000 miles in the Tesla, while the Chevrolet Trax would cost about $88, calling them “basically identical costs.”
That said, if you want to save any amount of money, even if it’s just $2 a month, sticking with a traditional fuel-based car like the Trax is your choice.
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This article originally appeared on GOBankingRates.com: Here’s What It Costs to Charge a Tesla Each Month vs. Gas Usage for a Chevrolet Trax