Should You Buy an Electric Car?

In the past few years, more and more companies have started to offer electric cars. Many offer outstanding benefits and a very good value. But you have to wonder, is it a good idea to invest in an electric car? Is the technology good enough for you to make this type of a shift? As you may imagine, it mostly depends on a wide array of factors. But there are some benefits you can have here, and it mostly comes to you to identify whether you will get a good return on investment or not.

Better energy security

Whether we like it or not, the reality is that fossil fuels are going the way of the dinosaur. Electric cars offer a forward-looking option that offer a more environmentally-friendly approach.

Not that expensive to operate

Aside from energy security, electric cars are not that expensive to operate. And the issue of where to ‘plug-in’ to recharge is diminishing as more charge station pop up on the map. In addition, manufacturers are coming up with better batteries that extend the travel time you can count on in an electric vehicle.

The Electric Vehicle (EV) prices will come down

As more EV’s are produced and more efficiency is built in, and sales grow, prices on EV’s will come down. This will make them easy on the budget and a tempting alternative to gas-powered vehicles.

Financial incentives

Another thing you may not know is that electric cars are actually coming with tax incentives. In the US, the federal government and a number of states offer financial incentives, including tax credits, for lowering the up-front costs of plug-in electric vehicles. The federal Internal Revenue Service (IRS) tax credit is for $2,500 to $7,500 per new EV purchased for use in the U.S.

Reduced maintenance

Maintaining an electric car, according to some estimates, will cost about one-third the current cost of maintaining a gasoline-powered car. The bottom line is this: Electric cars require considerably less maintenance than gas-driven cars. That is, until the battery begins to wear out.

The infrastructure is there

Sure, it was hard to own electric cars a few years ago. But now the infrastructure is in place and it’s certainly a lot cheaper. That leads to some amazing benefits and some really good results in the longer term. It’s surely a good opportunity, and the value on its own can be quite impressive.