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With current gas prices, it’s no wonder more and more people are considering an electric car. But is it really the best choice for your needs? Do you know all there is to know to make an educated purchase? Before you rush out and spend the money, let’s talk about what you can really expect from owning an electric car.
How much does an electric car cost?
Here’s the thing. The current MSRP on electric vehicles is often just a starting point. Because the demand is currently so high, many car dealers are marking the price up. This means that if you can find an electric car to purchase, you will more than likely pay much more than what you would pay for the gasoline counterpart. In February, Nissan had the least expensive electric vehicle with an MSRP of $27,400 for the LEAF. Of course, that was four months ago when gas prices were much more manageable. The initial cost shouldn’t be your only concern.
In fact, if you can find out exactly what you can afford and what you feel comfortable with before you hit the dealership. Do this by going to CarPaymentCalculator.net where you can instantly get calculation results. This can help you to find out how much you can afford, or start with a monthly payment you are comfortable with and work backwards to learn what your top dollar is. I personally like playing around with the different terms, see how interest rates, down payments and loan terms can effect your monthly loan. You can never be too prepared when heading to the dealership and the more education you can have will help you have the upper hand when it comes to negotiations.
Is your town ready for electric cars?
Are there plug-in stations in your area? Is there a plug-in area near where you work? Do you live in the middle of nowhere? You need to really think about your area and your driving needs. While more and more areas are adding plug-in stations in public parking lots, there are still some areas where these are few and far between.
What’s the real cost of powering an electric car?
Here’s the deal, you’ll need to do some math to determine how much it costs to charge your electric car. The average electric car gets 3 to 4 miles per kWh. Let’s say you drive 500 miles per month. That means you would use 125 to 167 kWh per month. Now, how much does your electricity cost per kWh? The current average price is 15.1 cents per kWh in the United States. Using the information we have above, we now know that it would cost roughly $18.87 to $25.21 to charge your vehicle. How does that compare to gas? Well, it depends on the gas mileage the car gets. Let’s say, you currently have a fuel-efficient vehicle that gets 60 mpg. You would need 8.33 gallons of gas each month. The average cost of gas in the United States is currently $5.01. That means you’ll need to spend $41.75 each month. While that sounds great, there’s still more to consider.
Is maintaining an electric car less expensive?
According to AAA, maintaining an electric vehicle is around $1000 a year, which is roughly $300 less per year than a gas-powered vehicle. But one expense you definitely need to consider is the battery replacement. A battery for a gas-powered car costs around $50 to $90 for a standard battery and $90 to $200 for a premium. An electric car battery cost as little as nothing, if the car is still under warranty, or as much as $20,000. This is a shocking fact that people often don’t realize until it’s too late. Before you purchase an electric car, do your research to determine what the maintenance costs are going to be.
Does owning an electric car truly lower your carbon footprint?
Will an electric vehicle reduce your carbon footprint? It all depends on where your energy comes from. Is the power company using an energy mix that causes a large amount of pollutants, it may not make a huge difference. Again, you’ll need to spend some time doing some research. Check out this website for more information.
Is an electric car for you? It really depends. Will the amount you save on gas be enough to cover how much more expensive the electric car was over gas-powered? What about the maintenance and battery cost? There is so much to consider when thinking about making the switch.
