Why Should I Get an Electric Car

In recent years, we've witnessed a significant transformation in the world of electric vehicles (EVs), particularly in terms of their pricing. The EV market has seen fluctuations, and it raises the question of whether it's still a practical choice to invest in an EV.

According to reports from Kelly Blue Book, the median EV price was $53,469 in July 2023, a whopping $15,316 difference from its price at the beginning of the year. While EV prices are on a downward trend, the median price is still equivalent to what an average American worker makes in a whole year.

This recent fluctuation can be attributed to Tesla's decision to cut its US prices between 2% and 6%, prompting other carmakers to follow suit. And with new models launching one after the other, we can expect pricing to be more competitive in the next few years.

The question remains: Should you get an electric car? Is it a worthy investment?

Here are some of the reasons why you should make the switch:

They are better for the environment

One of the most significant advantages of electric cars is their positive impact on the environment. These vehicles produce zero tailpipe emissions, making them a much greener choice than traditional gas-powered cars. By opting for an electric car, you contribute to reducing air pollution and decreasing the greenhouse gas emissions responsible for climate change. This eco-friendly feature aligns with the growing global awareness of the need for sustainable living and transportation.

They’re just as safe—if not safer

Safety is a paramount concern for any vehicle owner, and electric cars are designed with this in mind. In fact, electric cars are often considered just as safe, if not safer, than traditional vehicles. This safety is attributed to their unique design features, including a low center of gravity due to heavy battery placement. This design enhances stability and reduces the risk of rollovers, ensuring a safer driving experience. Additionally, some electric cars, most prominently Tesla models, come equipped with advanced safety features such as collision avoidance systems, adaptive cruise control, and automatic emergency braking, enhancing overall safety.

Electric Vehicles are cheaper and easier to maintain

Owning a battery electric vehicle can be more affordable in the long run compared to internal combustion engine (ICE) vehicles. The key reason behind this cost-effectiveness lies in the simplicity of electric car components. Electric cars have fewer moving parts in their powertrains, which means fewer opportunities for mechanical failures and lower maintenance costs. Additionally, you can bid farewell to the routine oil changes required by conventional vehicles, not only saving money but also contributing to a reduction in environmental waste associated with oil disposal. Furthermore, electric cars often feature regenerative braking systems, extending the lifespan of brake pads and resulting in less frequent brake replacements. 

Better fuel economy

One of the most immediate and noticeable benefits of owning an electric car is the elimination of fuel costs. These vehicles are powered by electric motors, which are generally cheaper to run than gasoline engines on a per-mile basis. As a result, you save money every time you charge your electric car, especially when charging at home using a standard electrical outlet or a dedicated charging station. The convenience of not needing to visit a gas station anymore is an added perk, making your daily life a little easier. 

To make the most of your electric vehicle and its cost-saving advantages, it's essential to understand and follow best practices for EV charging. These practices can help you optimize your charging routines, extend your vehicle's lifespan, and maximize your savings.

You can receive rebates and tax credits

Many governments and utility companies offer incentives to encourage the adoption of battery electric vehicles. These incentives can significantly reduce the upfront cost of purchasing an electric vehicle. For example, in the United States, there are federal tax credits available for buyers of qualified all-electric and hybrid electric vehicles, ranging from $2,500-$7,500 depending on battery capacity. Additionally, many states offer incentives such as rebates, tax credits, or exemptions from vehicle registration fees for electric car owners. Some utility companies even provide discounts on electricity rates for electric vehicle charging during off-peak hours.

The total cost of ownership is lower than gas-powered cars

While the upfront cost of an electric car may be higher than that of a comparable gas-powered vehicle, the total cost of ownership over the vehicle's lifetime is often lower. This cost advantage is primarily due to lower operating and maintenance expenses. Electric cars are inherently more energy-efficient than ICE vehicles, converting a higher percentage of the energy from the grid into actual movement. This efficiency results in lower energy costs, especially when compared to the ongoing expenses of owning a gas-powered car. Electric cars also have fewer moving parts and experience less wear and tear on critical components, leading to longer lifespans and fewer maintenance needs. These factors, coupled with potential incentives and a potential higher resale value for certain electric car models, contribute to a lower overall cost of ownership.

Understanding and managing electric car maintenance cost is a key component of maximizing the cost savings associated with electric vehicles.

More EV charging stations are popping up across the country, making it increasingly convenient to charge your electric car. This growing charging infrastructure addresses one of the common concerns among potential EV buyers, as more charging points mean less worry about running out of battery power during your daily commute or road trips. Additionally, EV adapters have practically opened up different charging networks to most electric cars, allowing J1772 EVs to use the Tesla network and vice versa.

More EV options are becoming available