You’ll be able to transition from a conventionally powered car to an entirely electric car or crossover in a few short steps. Although a battery-powered vehicle is more cost-effective than a gas-powered one, it offers many other benefits. You should ask the following questions when you’re considering buying an electric car. Is the car’s operating range sufficient?
The current generation is capable of running for more than 200 miles per charge. It’s less common to worry about range anxiety than it was a few decades ago, when EVs were struggling to reach 100-miles. However, it is important to ensure that the model you choose has enough range for your daily commute, weekend activities, and other needs. Because your mileage will differ, it pays to underestimate your needs in relation to an EV’s estimated range.
For example, highway speeds will burn more energy than those in the city. An EV’s range will also be affected by cold weather. AAA’s research showed that an average EV’s range drops 41 percent when the temperature dips below 20F. With the air conditioning on, battery life also suffers in summer. It drops by 17 percent.
2. Do the Vehicles Other Features Meet My Needs?
Like any other type of vehicle you should do your research to make sure the electric car you are considering is spacious enough for you and your family. Check the cargo area to ensure there is enough room for your weekly shopping trips, sporting equipment, strollers, or other child-related gear. Make sure you choose a model that suits your needs and is affordable. Give any vehicle you’re interested in a test drive to ensure it drives well, is comfortable to handle, and that its controls are easy to use.
You can get other owners opinions by reading an EV forum.
3. Should I Lease or Buy an Electric Vehicle?
While leasing new vehicles accounts for about 30 percent of all transactions currently, there are published reports that show close to 80 percent e-vehicles are leased. The down payments and monthly outlays for EV leasing are typically lower than traditional financing. Automakers also often offer promo lease deals with cost reductions. You can lease an electric car for up to three years, which will help you keep up with new technology, especially with regards to range. The downside is that leasing almost guarantees you’ll have to pay a permanent car payment. If you exceed the specified mileage limit or return the vehicle in a less than pristine state, you could be charged an unexpected fee at the end.
4. Where and how do I charge my vehicle?
Although public charging stations are increasing in number, it’s much easier and more cost-effective to charge an EV at your home. It’s possible to plug the vehicle in to a standard 110-volt outlet, but this can take between eight and nearly 24 hours. To accommodate Level 2 charging, an electrician could install a 240-volt service to your garage. This can recharge an EV battery within four hours. While you don’t technically require an enclosed garage, if you plan to plug in an electric vehicle outdoors, you will need to purchase a charging unit specifically for this purpose and have it professionally fitted according to local building codes.
5. Are there any public charging stations close to where I live, work, or shop?
Even if you buy one of the higher-range models on sale, there will still be times when your EV needs extra power. Public chargers can usually be found at new-car dealerships, in public parking garages, or in retail parking lots. Some streets even have them. Tesla owns its Supercharger network, which is exclusively used for charging their models. Although chargers are more common in urban areas, they are not available for suburban areas with greater EV penetration. Some public units provide Level 3 charging, but most are Level 2 chargers. This is also known by DC Fast Charging. It can recharge an EV’s battery from 30-60 minutes to as much as 80 percent.
6. What incentives are available to help offset the cost associated with an electric vehicle?
The federal government grants buyers of new EVs a $7500 tax credit. If you lease an EV the tax break is applied to the transaction to lower monthly payments. Each automaker will see the credits expire in two stages once it has sold 200,000 EVs/plug-in hybrids. Tesla was the first company to reach that milestone. The federal tax credit dropped to $3750 on January 1 and fell to $1875 on July 1. It will then expire entirely on December 31. General Motors reached 200,000 EVs last year. EV credits on Bolt and Volt EVs began to be phased out on April 1.
There are many incentives available to electric vehicle buyers in different states and cities. They are typically in the form either a tax credit (or a cash refund), with some areas offering financial assistance to install a home charging station. You will find many exceptions and provisions among EV incentive programmes. To see the details, visit your state’s Internet portal.
7. How long can I expect to own an electric vehicle?
If you are interested in a long-term relationship, it is worth asking about how much it will cost to replace your battery pack. Federal regulations require that EVs have a minimum warranty of eight years, or 100,000 miles. Hyundai offers lifetime coverage for the Kona Electric. While some automakers will only cover an EV’s battery pack against total breakdown, others like BMW, Chevrolet (Model 3), Nissan, Tesla (Model 3), and Volkswagen will replace it should it reach a specific reduced capacity percentage. This usually ranges from 60%-70%.
It’s expensive to replace a battery in an EV if it’s already been used. We have seen estimates ranging from $5,000 to $15,000 depending on which model and this doesn’t include the labor cost. Although an EV battery is susceptible to degradation over time, there have been no reports of older-generation EVs requiring new power cells. If taken care of properly, the battery will last a lifetime.
8. What is the cost of electric car insurance?
EVs are more expensive than the norm when it comes to insurance. According to one source premiums for EVs are on average 21 percent more than those of comparable gas-powered vehicles. They aren’t less safe or more susceptible to accidents than other vehicle types. It is because EVs are more expensive than traditional alternatives and cost more to fix after a collision, especially due to their high-priced batteries.
9. What if I need a backup vehicle that is gas-powered?
While it is possible to take an EV on a longer trip by planning routes around Level 3 charging stations, family car trips can be too stressful without having to deal with range anxiety. If you often visit relatives or friends outside your home, you may need to share garage space with a hybrid or gas-powered car. If you’re looking to explore beyond your comfort zone, you can rent a car or crossover.
10. Should I buy a brand new or used EV?
The cost of buying an electric car can be high. Many mainstream brands are priced at around $30,000; the most expensive luxury EVs can go as high as $100,000. You will receive the $7,500 federal tax credit, plus any other incentives available that may not be granted to buyers of used-EVs.