3 Considerations When Looking For The Perfect EV

With the rapid rise of gas prices, it is only right to constantly look for ways to save money on fuel expenses. One of the ways to do so is to invest in more fuel-efficient means of transportation, such as electric vehicles. Studies show that an EV can be more than 70% efficient the moment it is powered on, compared to traditional gas-fueled vehicles that barely reach 40% efficiency even when fully warmed up. However, given that there has been an influx of newer EV models in the market, looking for the right one for you can be challenging. Here is a simple guide that can help you make EV shopping easier.

Budget and Incentives

Since buying an electric vehicle is an investment, the first thing that you need to consider is your budget. There is a wide range of EVs that you can choose depending on your budget, from standard EVs to luxury models. The upfront purchase cost of EVs can be around $1000 – $2000 more expensive than gas-powered vehicles. As well, when purchasing an EV, it is advisable to have a home-charging port installed, which can also cost around $2000. While these costs might seem high, there are several incentives that you can take advantage of. For example, EV owners are eligible for the EV tax credit, which can go up to $7500.

Charging Options

When you think of an EV, it is easy to imagine a vehicle that fully runs on electricity. After all, what sets an EV apart from a conventional gas-powered vehicle is its power source, and EVs can be classified by their charging options. EVs that fully run on electricity are what you call battery electric vehicles. Those are not the only EVs in the market, though. If you want to make a gradual shift to an EV, you can opt for a hybrid vehicle, which still has gas-powered components. These components are then complemented by a small battery pack and an electric assist motor that make the vehicle more efficient.

Range for Your Needs

Another important thing that you need to consider when you are shopping for an EV is its range. One of the reasons drivers used to hesitate using EVs is the fear of running out of battery while being outside, typically called “range anxiety.” With newer models of EVs, however, range anxiety should no longer be a cause for concern. As of 2021, an average battery-powered EV can travel 217 miles on a single charge, which is a 44% increase in the average range of EVs in 2017. Some EVs such as Lucid Air can even go as far as 520 miles on a single charge. As such, depending on how much you travel each day, there should be an EV that fits your commuting needs.

Shifting to an EV is a sound financial decision considering the amount of fuel expenses you can cut, as well as the long-term savings you can have. Shopping for an EV that suits you does not have to be overwhelming, too. Simply bear in mind these three things, and you’ll have an easier time in finding the right EV for you.

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