It's pretty clear that electric cars are the future. A recent report from the International Energy Agency stated over 3 million new electric cars were registered last year—a record amount and a 41% rise compared to 2019.

And while currently, traditional internal combustion engines generally cost less up front, the costs over the lifetime of a car are clearly on the side of electric vehicles.

Motor Trend puts it simply: EVs have fewer moving parts than their engine-powered counterparts. There are no engines to maintain, no belts to check, no oil to change; the list goes on and on ... and now the U.S. Office Of Energy Efficiency and Renewable Energy has recently given us insight into just how much cheaper electrics can be as part of a look at the government's own vehicle fleet.

The raw numbers break down to a couple of cents per mile, but when you factor in the costs over the life of your average car, the savings for electric can run anywhere from $8,000 to $12,000. Not bad, right?