How Much Does an Electric Car Cost?

BMW iX Exterior
If you’re interested in leaving the traditional gas-powered car behind and upgrading to an electric vehicle for your Chicago commute, you’re in luck! EVs used to be niche and hard to find, but these days they’re more available than ever. Almost every popular automaker has an EV in their lineup these days, including BMW! But how much does an electric car cost? While there’s no answer to this question, electric cars generally cost more than gas-powered cars for a few important reasons. The team at Perillo BMW has more information on the average electric car price and the BMW EV price list in the guide below – check it out! Then head to our inventory to see what we currently have available.



The Average Electric Car Price

As we discussed above, electric cars are on average more expensive than their gasoline-powered counterparts. While there are a few electric cars from companies like Nissan or Chevy that cost $30,000 or less, you can generally expect to pay quite a bit more for a new EV than a new gas-powered car. This is because EVs use more sophisticated technology under the hood and inside the cabin, which gives the driver benefits like more powerful performance and instantaneous torque but also drives the price up. In fact, Kelley Blue Book found that 2021 electric cars cost about $10,000 more than the industry average. You also have to consider the cost of installing a charging station in your house or paying for public charging around Park Ridge.

However, there are ways to offset the higher cost of an electric car. Depending on what kind of EV you buy, you may be eligible for a wide variety of state and federal tax credits that can potentially save you a big chunk of change. You also won’t have to pay for things like oil changes or trips to the gas station.

There’s more good news – U.S. News & World Report has found that the price difference between EVs and gas-powered cars is getting smaller every year, as they become more widespread and the cost of construction and maintenance becomes more affordable. In general, EVs also cost less to maintain over time.

BMW EV Price List

BMW has a long history of high-performance luxury vehicles, and the BMW electric and plug-in hybrid lineup proudly carries on that legacy! What can you expect to pay for a new BMW EV or hybrid? Check out the current BMW EV price list below:

  • 2023 BMW iX xDrive50: MSRP from $84,100
  • 2023 BMW iX M60: MSRP from $105,100
  • 2023 BMW i4 eDrive40: MSRP from $55,900
  • 2023 BMW i4 M50: MSRP from $67,300
  • 2023 BMW i7: MSRP from $119,300
  • 2023 BMW 5 Series Plug-in Hybrid: MSRP from $56,400
  • 2023 BMW 3 Series Plug-in Hybrid: MSRP from $43,300
  • 2023 BMW X5 Plug-in Hybrid: MSRP from $65,700

Find Your Next EV at Perillo BMW!

Interested in learning more about the BMW EV lineup? Contact our office with any questions or for more information, and a member of our team will be happy to help you out. You can also stop by our dealership to check out a model in person or take it out for a test drive near Oak Park. And be sure to keep up with our blog for all things BMW!


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