Should I Get an Electric Car?
As of late 2021, there were ten million electric cars, and it’s projected that this amount will grow to 300 million in 2030 by the Net Zero Emissions by 2050 Scenario, a report by the International Energy Agency. Electric cars have become a standard part of the car buying conversation for consumers. Are you thinking of buying an electric car? There are many things to consider, like the cost of an electric car and electric car pros and cons.
Depending on the brand, make, and model, a new electric vehicle can range in price from around $30,000 to over $100,000. However, a range of features and other things can impact the car's price. If you're trying to decide whether an electric vehicle is right for you, read on.
What Should You Consider Before You Buy an Electric Car?
Fluctuating gas prices may make jumping into an electric car purchase, but it’s essential to understand all the aspects of electric cars. There’s a lot to consider, from electric car benefits, like tax incentives and fewer emissions, to disadvantages like high battery replacement costs. Here are a few aspects you need to think about as you decide to buy an electric car.
What are electric vehicles?
Electric vehicles have an electric motor in place of the typical internal combustion engine. A battery powers the car and is charged by a wall outlet or electric vehicle charging station. Because it does not use gas, electric vehicles don’t have fuel pumps, lines, and tanks.
The cars include charging ports and a DC/AC converter which changes DC power from the car’s battery to lower voltage DC power that can operate other vehicle components and keep the supplementary battery charged.
Pros and cons of owning an electric vehicle
There are a lot of benefits of an electric car. But, there are a few features to be aware of as you move through deciding whether to purchase an electric vehicle or not. Here are the good and sometimes challenging aspects of owning an electric car.
- Tax credit – Some electric and hybrid cars sold in and after 2010 are eligible for a tax credit of $7,500. The credit depends on the battery capacity. Even if you’re not eligible for the total incentive, a partial one may still be possible. This pro may be an attractive feature for those looking to save some money on their next car purchase.
- Not needing to fuel up – This is especially helpful when gas prices rise. Electric cars don’t require you to be dependent on the fluctuations of gas prices, which is convenient.
- Lower maintenance – Because you don’t have to deal with the typical car components like fuel tanks or pumps, you can bypass a lot of the maintenance that comes with non-electric vehicles. You won’t have to get oil changes or deal with consistent and common traditional vehicle issues like exhaust system failures since you don’t have them.
- Better for the environment – Electric vehicles are friendlier to the environment than traditional cars. Because the car runs on electricity, you don’t have to worry about emitting carbon into the atmosphere, which can pollute the environment.
- Limited charging stations – Because there are limitations to how many stations are around, you may have to look harder to find one or go out of your way to search for one.
- Higher upstart costs – If you live in an area that isn’t around a lot of charging stations, you may need to install a charging station in your home. This can significantly increase your upstart costs when buying an electric vehicle. Also, while charging may be less expensive, it still costs, especially during peak times.
- More expensive repairs – While you’ll likely not have to take your car to the mechanic as often as you do for a non-battery-powered vehicle, you may still need a repair at some point. Electric car components like batteries can be expensive to replace.
- Long charging times – Electric vehicles take much longer to charge than when you go to fuel a gas-powered car. It could take a half-hour or even longer, depending on how much charging the car needs. This task is something you’ll have to plan for during your commute.
Electric vehicles can be an excellent option for individuals looking to reduce their environmental footprint or want a lower maintenance vehicle. However, it’s essential to understand the benefits of electric cars and disadvantages if you want to buy an electric car so you can make an informed decision.
How much does an electric vehicle cost?
The cost of an electric car can vary. Over the past decades, more automakers are starting to include more makes and models that range in various price points. For example, depending on the trim and features, the 2022 Chevrolet Spark, a subcompact car, retails around $15,000. On the other hand, the Tesla Model X SUV starts at around $121,000. It’s highly likely that the larger or more luxurious the car, the higher the price will be.
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FAQ/People Also Ask
It depends on whether an electric vehicle fulfills your needs. For example, an electric car may be the answer if you’re looking for a lower-maintenance car and want to step away from needing gas. But, a conventional vehicle may be the best option if you’re looking for lower upstart costs.
If you don’t want to deal with long charges at charging stations or potentially costly battery repairs, an electric car may not be the best investment.
The upstart cost of installing a charging station, long charging times, and costly battery repairs may cause you not to consider an electric car.
It depends on if the benefits of an electric car surpass the cons for your driving patterns and lifestyle.
You can save on gas costs and routine maintenance, but repairs may cost more, and you still have to pay to charge.
It depends on what your lifestyle and driving needs are. However, affordability (initial and ongoing) could be a problem for some drivers.