Is An Electric Car Right For You: The Good & The Bad

Most people want to do their part in bettering the environment; it’s why you bought that reusable water bottle and recycle and reuse it in your home. And buying an electric car seems to be the next logical step in doing your part, but how beneficial is owning an EV? You want to consider many things before purchasing this type of car – is it really helpful to the environment, will it save you money, or will you be stranded in the middle of nowhere because you couldn’t stop to recharge?

These are all important considerations when looking to buy an electric car, and once you have a better understanding of the pros and cons of driving an electric car (EV), you’ll be able to make a decision. 

Here are some things that you should know,

You’ll be saving money every year driving an electric car.
Let’s face it, gas isn’t cheap, and even when it is somewhat affordable is an added expense that can total to $5000 a year or more. You can expect to pay one-third in electricity for your EV. Many electric cars use regenerative braking, which gives the vehicle more energy to run, which means you have to recharge less often, saving you even more money.

Because electric cars don’t use gasoline, they also don’t need oil – no more oil changes. That means you’re eliminating the cost of gas and oil changes which means you’ll be saving thousands every year. Plus, you’ll notice there are far fewer maintenance and repairs because you’re not using a gas engine.

Although you may be saving on the money with gas, there is something you’ll need to take into consideration. Electric cars have a shorter range, and most will only go for 60 to 100 miles before needing to be charged again. Most new traditional cars can go up to 400 miles on a tank of gas. This is a big difference and can take some time to get used to. So you’ll need to find electric car charging stations along the way and depending on where you live or where you travel to, this can be difficult. However, more and more charging stations are showing up. It’s likely you’ve already seen them at some of the places you go to – grocery stores, parking garages, and hotels. More and more are popping up all around the country. However, they still aren’t everywhere, so you’ll want to check with your area before purchasing your car.

You’ll Get a Tax Break.

As an electric car owner, you can receive credit on your tax returns because it’s better for the environment. You are getting as much as $7500 in credit in some states and depending on the type of car you have and the size of the battery. 

One of the most significant downsides to an electric car is its cost. They tend to be more expensive to purchase upfront. The basic model starts at around $30,000, which isn’t bad, but you won’t be getting much for this. For a luxury electric car, you can expect to pay upwards of $80,000. Generally, you can expect to pay $10,000 more for an electric car over a conventional one.

There are some pretty amazing financial benefits when purchasing an electric car – savings on gas, oil changes, maintenance, and repairs. And that tax break will prove to be beneficial around tax time. While you are limited to how many types of cars you have to choose from, this doesn’t mean that you’ll lack comfort, style, or luxury. The fact that there is minimal maintenance makes owning this type of car so enticing.

The biggest things you’ll want to consider are how far you will be driving daily, a place to charge your car in your home, and charging stations. You want to be sure that you’re staying safe when traveling by understanding your car. Electric cars are not much different from conventional cars other than they are better for the environment and save you a ton of money every year. You will still have options for your favorite features – backup cameras, stereo systems, and you won’t lack comfort or style