However, if you value low initial cost and a wide choice, then an electric car … In fact, if we are to trust Tesla’s reports, electric vehicles are 11 times less likely to catch on fire than other cars. There are other electric car stocks that have defied reality this year as well. That could conceivably buy you a decade’s worth of fuel! [Photo: Hyundai] So if you want to sell an electric vehicle today, it should be a crossover. The maintenance cost of an electric car is also less when compared to a conventional car. This credit is anywhere from $2,500 up to $7,500. You’re likely to find a range of second-hand electric cars at your local dealer – particularly if you’re looking at bestsellers, such as the Nissan Leaf, BMW i3 or Renault Zoe. What makes sense for traditional gasoline cars isn’t necessarily the case for electric vehicles. They're a bargain: The EV's diminished resale value is a con for the person who bought one and is trying to sell it. They are also great to drive and save you going to the petrol station to fuel up. Electric cars and the environment. By comparison, a gasoline car can cost you $1,000 to $2,500 a year to fill up. The Hyundai Kona Electric. It is also worth pointing out that consumers can buy an electric car for as little as £5000 on the used market." The regular Rav4 AWD costs $30,690. Also consider whether to lease the car or buy it outright. If you want to buy one now, the Kia e-Niro has a 282-mile range (382 in the city) and does 0-60mph in 7.5sec, but it costs £33,000. 26th Nov 2020. Toyota Rav4. The worth of an extended warranty isn't always a guarantee, meaning you won’t always save money. Perhaps It’s Time to Consider an Electric Car. But you may have to act fast to take advantage of it. Chinese electric car maker NIO is now worth over $70 billion despite delivering just over 12,000 cars in the third quarter. Having accounted for only a slim percentage of … New owners report being surprised by how fast they accelerate and are generally pleased with handling, although the brakes can be surprisingly powerful. And there are still question marks hovering over the long-term reliability of batteries and resale value, which may bite you hard somewhere down the line. Ultimately, whether you think an electric car is worth it is down to what you consider the most important factors when choosing a car. Electric cars are increasingly taking to our roads but many people still have reservations. Buying an electric car is definitely worth it for some people at the moment but maybe not for everyone. The purchase price difference is $1,400. A typical plug-in hybrid costs about $700 per year. For example, if you put a high value on reducing the impact you have on the environment and minimizing the number of times you have to go to the gas station, then purchasing a hybrid vehicle is going to be a much more appealing purchase. Buying a plug-in electric car with a battery pack of 16 kilowatt-hours or more, including the Chevrolet Volt,can qualify you for a Federal income-tax credit of $7,500. Buying any used car can be a daunting experience, but there are even more things to consider when going electric. Since the Sonata hybrid in this scenario isn’t a plug-in, there is no government tax credit. Put simply, pure electric cars are powered by a battery, which often sits at the base of the vehicle. Buying An Electric Car Can Save Money. On average, it costs $300 to $400 per year to charge an electric vehicle, depending on when and where you charge it. The most common car-buying advice is still the best: Consider your wants, needs and expectations and compare them with what you'll get with an all-electric car (EV) or a plug-in hybrid (PHEV). This catalogue does not include older generation EV models that have been discontinued, EVs that are not considered passenger vehicles, EV models available for sale in other countries or gasoline/diesel hybrids. If you are a two car household then it would be worth replacing one of them with an electric car. The 2019 Toyota Rav4 hybrid AWD costs $32,090. However the savings may not be significant when you take into account the initial cost of the electric car. For most American car shoppers interested in a pure electric vehicle (EV), the technology can present a host of unfamiliar considerations. For the rest of us, it’s harder to decide. If you can easily afford $75,000 to $125,000 on a Tesla Model S or Model X, then I’ll make this easy for you: yes, you should obviously buy a magical space car. Electric cars cost more to buy, but they’re more affordable to run than gas-powered cars. Is it ever worth buying a car through my company? This wasn’t helped by unanswered questions over the longevity of the battery. Perhaps the biggest performance challenge for EVs is the issue of range. Welcome to Plug’n Drive’s online catalogue of electric cars available for sale in Canada. If you value efficiency, eco-friendliness and low running costs, then an electric car is for you. Electric cars save money and are good for the environment. Some states also offer a tax credit, as do some utility companies. Most drivers also come to appreciate the quiet engine. Share; Facebook; Twitter; LinkedIn; Email; A ban on the sale of new petrol and diesel cars has been brought forward to 2030. However, most of the … The rules for benefits in kind on electric and hybrid cars changed from April 2020. Even though electric cars are receiving more positive attention and becoming more common, adoption is slow. It’s due in part to the fact that people don’t trust electric vehicle (EV) technology and have many doubts. The choice of battery-electric cars (BEVs) will only increase. Is it worth buying an electric car in India? Having owned an electric car for a couple of years, I’ll help you come at this from three angles. What Car? If you are looking for an electric car for your short daily commutes, then an EV is worth the money as it will reduce your commute costs in the long run. In the early days of the electric car market, when there was little choice and what was in showrooms was largely underwhelming, weak used values for electric cars reflected the lack of interest from drivers. You’ll also have to factor in charging times and total range for journeys. There are a lot of EVs on the market today from the likes of Tesla, Chevrolet and Nissan that are worth getting excited about, but there are a few things that first-time electric car buyers should ask themselves before making the switch from gas to electrons, so here are … The federal government is still offering qualifying electric car buyers a sizeable one-time tax credit that effectively reduces the cost of a new model by $7,500. Pros. Studies have shown that you’ll save money by buying and running an electric car. Are electric cars worth it? Improvements in the battery range of electric cars, lower list prices and the expansion of the charging network mean that 2020 is the best year yet to buy an EV. But it appears electric cars are gaining popularity. It is more than worth noting that electric cars are far less likely to catch on fire when compared to traditional hybrid cars or those powered by fuel. The decision to switch from a traditional gas-powered car to an electric one can be daunting, considering the unfamiliarity and high costs. recommends the Renault Zoe as a cracking second-hand buy, pointing out that while the early cars only have a range of 60-90 miles, they can now be picked up for around £5,000 plus a monthly leasing fee for the battery. For one thing, fuel costs are lower. But it's a pro for you as a used-car shopper. As you can see from the information above, the answer to whether or not buying a hybrid car is worth it is somewhat subjective. Buying a used electric car is much the same as buying a new one. Will I lose money buying an electric car? 2030 ban – is it worth buying an electric car now? One hurdle to buying a used electric car that may be insurmountable depending on where you live is a lack of supply. This is typical of any new technology. The current tax law for hybrid cars allows for a credit when you buy an electric or plug-in hybrid vehicle. 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