In most cases, yes! With packaged kits and pre-filled cartridges, you’ll likely save some money depending where you live, what the taxes are, etc. However, you won’t save as much as they tell you since the cartridges rarely last as long as advertised. One very loose rule of thumb you can use is to take whatever comparable equivalent they say it costs, and double it.
To save the most money, it’s best to get a generic core e-cigarette model (Joye, KR808, Jessy, DSE901, etc.) and refill or “drip” with eLiquids. They’re less convenient in some ways and not for everyone, but for very heavy smokers that’s really the way to go and will cut ongoing costs to a tiny fraction of what analog cigarettes typically cost.
Bear in mind though you will always still have the initial outlay of the kit to factor in, the batteries, atomizer, charging units, etc. Even then you are probably looking at some decent savings no matter what.