Electric vehicles (EVs) are turning more common, and you might not be the only one thinking whether an EV is worth buying. The technology that supports EVs is improving, so lofty price, performance problems, long charging time, limited range, and lack of charging locations etc no longer matter much.
Big-name brands like Volvo are planning to turn to EV-only manufacturing soon, and the likes of Tesla are providing affordable electric cars. This changes the perception that an EV is something which rich people alone can afford. Here are some things to consider before buying an EV over a gas-powered vehicle.
|Criteria||Electric Car||Gas-Powered Vehicle|
|Total Cost Of Ownership||Lower||Higher|
|Likelihood To Ignite||Less Likely||More likely|
|Range||Relatively Less||Comparatively More|
|Resale Value||Comparatively Lower||Relatively More|
Total Cost Of Ownership
The price of an EV is becoming about the same as or lesser than a traditional gas-powered automobile. Quite affordable electric cars are available in the market. Besides, you will not have to bear much cost to operate and maintain an EV. In most ways that count, running and maintaining it costs considerably less money as compared to a gas guzzler. For an EV, you will not have to purchase gas and change oil, plus it has fewer moving components.
This means, an EV does not have several parts to deteriorate or break, so you will not need to have much fixing done for it. Several people run their EVs for years without incurring repairing or servicing charges. There will be braking systems to maintain, but these will last longer as compared to your standard gas counterpart.
An EV owner’s main concern will possibly have to do with replacing their battery pack, but almost every model has an 8-year warranty or 100,000 miles warranty.
EV produces little to no emissions, so it helps to make the quality of air in big cities better. There is enough research showing that electric vehicle emissions are considerably lower compared to fossil-fuel powered cars.
When the number of EVs increases, we could have purer air to breathe on the roadways. This could mean less disease and consequently less pressure on global public health centers. Fewer emissions of greenhouse gases would be good for the ozone shield and lessen carbon footprint.
Potential To Ignite
The tests that gas guzzlers and electric vehicles must clear are the same, so you can rest assured that operating EVs will be fully safe. Several EVs have higher crash test ratings. A much-discussed concern regarding the safety of an electric vehicle has to do with its possibility to ignite. Contrary to popular belief, an EV is not as likely to ignite as a fossil fuel-powered model.
The term ‘electric car range’ refers to the driving range of an EV, or the distance it can cover before needing a battery recharge. Only some EV models have a driving range that can be compared to that of a gas car. Even so, new models come with a much longer range compared to the old ones.
When you shop for an EV, you should consider the range you will realistically require. Considering that almost everyone drives around 30 miles daily, most electric cars have the essential range. You can have a trip in an EV, with charging stations available right through the nation and with some amount of planning.
Almost every gas vehicle has a driving range of between 250 and 300 miles. This means the owner of the gas car will have to fill up the tank of it about once per week.
In some states, people are qualified for a considerable one-time tax credit or rebate, just for buying a new electric vehicle. Most new EVs have a federal income tax credit of $7,500 for one purchase, but each state may add some more to that. You will have a tax credit of 30% for the buy and fitting of the charging equipment – it pertains to businesses as well, so there are big tax savings to be had.
Electric car drives have privileges that others do not. In the event you are still unconvinced by the aforementioned things, this might make you consider buying an EV. As an EV owner, you will have the deserved preferential treatment. These benefits include preferential parking areas near shop entrances, the capability to pass others in HOV (high-occupancy vehicle) lanes situated on the freeway, and free charging at public stations.
An electric vehicle usually has a below-par resale value. Mostly, plug-in hybrid electric vehicles and standard EVs depreciate quicker compared to your average gasoline-powered car. As far as a secondhand EV customer is concerned, that is not a big issue because they need not pay much money outright to own it. However, it does not augur well for those who pay a lot of money to purchase a fresh EV, without much assistance from the state government.