The purchase price of an electric vehicle is only part of the story. For Long Island buyers in Huntington, Northport, and Commack evaluating the 2027 Volvo EX60, the total cost of ownership — fuel, maintenance, insurance, and resale — is where the electric advantage becomes most apparent. EVs typically cost meaningfully less to operate than gasoline vehicles over a 5-year period, and the EX60’s engineering supports that trajectory.
Bottom Line: The EX60’s total cost of ownership benefits from dramatically lower fuel costs versus gasoline, reduced maintenance requirements (no oil, no transmission, fewer brake services), and a growing body of evidence that premium electric vehicles hold value well.
- Home charging at Long Island electricity rates costs roughly 3–5x less per mile than gasoline at current Suffolk County prices
- EVs have significantly fewer service items: no oil changes, no transmission fluid, no spark plugs, reduced brake wear from regenerative braking
- Federal tax credits and New York State incentives may reduce effective purchase price — consult your tax advisor for eligibility
Fuel Cost: The Largest Long-Term Savings
Long Island Electricity vs. Gasoline
Long Island electricity rates are higher than the national average — but even at PSEG Long Island rates, the cost per mile of driving an EV is dramatically lower than gasoline. At roughly $0.20–$0.25 per kWh and the EX60’s expected efficiency of approximately 3–3.5 miles per kWh, the cost per mile is roughly $0.06–$0.08.
Compare that to a gasoline equivalent: at $3.50–$4.00 per gallon in Suffolk County and an equivalent 25 mpg vehicle, the cost per mile is approximately $0.14–$0.16 — roughly twice the EV cost. Over 12,000 miles per year, the annual fuel saving is approximately $900–$1,200 versus a comparable gasoline vehicle.
Public Charging vs. Home Charging
Home charging is always the most economical option. Public DC fast charging — while convenient for road trips — costs significantly more per kWh than home rates. The EX60’s large battery and strong range minimize the need for public fast charging in routine Long Island driving, keeping the cost profile close to the home-charging rate.
Maintenance: Where EVs Win Consistently
What an EX60 Does Not Need
An electric vehicle has no internal combustion engine, which eliminates the most maintenance-intensive components of a conventional vehicle:
- No oil changes — ever. This is typically $120–$200 per year in a premium vehicle.
- No transmission service — electric motors drive through a single-speed reduction gear.
- No spark plugs, timing belts, or coolant flushes for the powertrain.
- Fewer brake services — regenerative braking slows the vehicle using the motor (converting kinetic energy back to electricity) rather than the friction brakes. Physical brake pads last significantly longer on EVs.
What an EX60 Does Need
Tire rotation and replacement remain — EVs can wear tires faster due to instant torque delivery, and the EX60’s performance-oriented powertrains benefit from performance tire selections. Cabin air filters, wiper blades, and washer fluid are standard service items. Annual check-ups covering brake fluid, brake system, and high-voltage battery health are recommended.
The four-year Digital Service Package (Google Built-In) is included in the EX60’s price — there is no additional subscription cost for this connectivity feature during the first four years of ownership.
Insurance Considerations
Insurance costs for the EX60 depend on your coverage selection, driving record, ZIP code, and insurer. Premium electric vehicles typically carry higher replacement part costs than equivalent gasoline vehicles — however, the simpler drivetrain and lower fire risk profile of modern lithium-ion battery systems (managed by sophisticated battery management systems) are increasingly reflected in competitive rates.
For Huntington and North Shore zip codes, obtain multiple quotes specific to the EX60 from carriers experienced with EV coverage. The vehicle’s strong safety ratings will be a positive factor in most underwriting models.
Federal and State Incentives
The federal EV tax credit structure and New York State incentives for electric vehicles may reduce the effective purchase price of the EX60 depending on your tax situation, the vehicle’s final assembly location, and income eligibility rules. These programs change over time; consult your tax advisor for current eligibility and credit amounts applicable to your specific situation.
New York State’s Drive Clean Rebate has historically provided point-of-sale incentives for qualifying EVs purchased through New York dealerships. Ask our team at Volvo Cars of Huntington about any current rebate programs available at the time of purchase.
5-Year Cost Estimate Framework
For a Long Island buyer driving 12,000 miles per year:
Annual fuel savings vs. a 25-mpg gasoline equivalent at $3.75/gallon: approximately $1,000–$1,300 per year, or $5,000–$6,500 over 5 years.
Annual maintenance savings vs. a premium gasoline vehicle (no oil changes, fewer brake services, fewer scheduled items): approximately $500–$800 per year, or $2,500–$4,000 over 5 years.
Combined 5-year operational savings: approximately $7,500–$10,500 before incentives, before resale value consideration.
These figures offset a meaningful portion of any premium paid at purchase versus a gasoline equivalent. When combined with available tax credits and a strong resale value trajectory for premium EVs, the EX60’s total cost of ownership picture is more favorable than the sticker price alone suggests.
"I tell buyers to run the math on what they spend on gas and service today, and then calculate that over five years. The savings are real — especially on Long Island where gas prices run higher than the national average. The EX60's purchase price starts looking different in that context."
General Manager, Volvo Cars of Huntington
View EX60 inventory and current offers at Volvo Cars of Huntington or view new vehicle specials.
Frequently Asked Questions
How much does it cost to charge the EX60 at home? At roughly $0.22 per kWh (a reasonable estimate for Long Island residential rates) and approximately 3.2 miles per kWh efficiency, the cost per mile is approximately $0.07. A full charge from empty (80 kWh usable on RWD) costs approximately $17.60.
Does the EX60 need oil changes? No — the EX60 has an electric drivetrain with no combustion engine. There is no engine oil to change. This eliminates one of the most common and costly recurring service items.
How long do brakes last on the EX60? Significantly longer than on gasoline vehicles. Regenerative braking reduces reliance on friction brakes, extending brake pad and rotor life substantially. Many EV owners find brake pads lasting twice as long or more compared to equivalent gasoline vehicles.
What does the four-year Digital Service Package include? It includes Google Built-In — Google Maps, Google Play Store, and Google Assistant natively integrated — at no additional subscription cost for the first four years of ownership.
Are there tax incentives for buying the EX60 in New York? Federal tax credit eligibility and New York State incentives depend on your specific tax situation and the vehicle’s qualifications at time of purchase. Consult your tax advisor for current applicable amounts.
Want to calculate your specific savings? Use our cost-of-ownership tool above or contact Volvo Cars of Huntington, serving Huntington, Northport, Commack, and Melville.
Related reading: 2027 EX60 Complete Buyer’s Guide | EX60 vs XC60: Electric or Hybrid?