Depending on the brand, EVs may initially seem pricey to some potential purchasers. However, more affordable electric cars that are still qualified for federal and state tax credits are entering the market, and older electric cars are entering secondary auto markets. EVs not only cost about the same as gas cars do today, but they also end up saving drivers money over the course of their ownership. Continue reading to learn more about how much for an electric car is and why they outperform petrol vehicles.
- 1 How much for an electric car
- 2 Why Electric Cars Are More Affordable
- 3 Frequently Asked Questions
How much for an electric car
The first electric vehicles that come to mind when people think of them are those pricy Tesla versions. Teslas aren’t the only EVs available, though. To better help you understand the market and expenses, we have listed the prices of several different electric car models below.
High-end electric vehicles
There are numerous high-end electric vehicles on the market for people with a larger budget. These gorgeous vehicles come with a choice of color options and interior features in addition to efficient batteries, increased range, and in some cases, autonomous features. Given that the Tesla Model 3 is the best-selling electric vehicle on the market and that the Tesla charger is a very well-liked product, these extra features are obviously in high demand.
It is also crucial to take into account the cost of charging your Tesla. To understand more, see our most recent breakdown of the price of a Tesla charging station.
Cheap Electric Vehicles
Look no further if you’re looking for a more economical choice. For the price-conscious consumer, many of the biggest automakers in the world are hopping on the electric vehicle bandwagon. Just a handful of the numerous businesses competing in the booming new industry include Nissan, GM, and Volkswagen.
Why Electric Cars Are More Affordable
If the following budget-friendly choices still seem a little expensive, try looking a little deeper than their sticker price. Electric cars are becoming more affordable as a result of the industry’s rapid technological growth. Electric vehicles already cost less to run over the course of their lifetime than their gas-guzzling counterparts.
Lithium-Ion battery technology advancements
The biggest expense factor for EVs has always been their lithium-ion batteries. However, since their introduction, the cost of batteries has dropped by 70% as a result of ongoing technological advancements. When compared to internal combustion vehicles like the Nissan Maxima, the price of the Nissan LEAF has fallen by 2.5% over the past seven years.
The price per mile traveled for EVs has also significantly decreased as a result of advancements in battery technology, with an average of 100 miles per 30 kilowatt-hours (kWh). For instance, if the cost of 1 kWh of power is $0.12, you can go 36 miles for just $1. You can only travel 18 miles for $1 in gasoline-powered vehicles, which have an average fuel efficiency of 22 mpg.
Two times the distance? That sounds like a great offer
One of the main worries that buyers have about EVs is range anxiety. Electric vehicles now have ranges that go well beyond the typical U.S. commute of 28 miles, ranging from 150 miles (Nissan Leaf) to 370 miles (Tesla Model S).
When utilizing public charging stations, be mindful of the onboard charger speed because they frequently charge by the hour. As a result, a car with a slower onboard charger will be more expensive than a car with a fast charger for the same quantity of electricity. For instance, charging a 2017 Nissan Leaf with a 3.3-kW onboard charger requires twice as long as charging a 2018 Nissan Leaf with a 6.6-kW onboard charger—and costs twice as much. Many EVs today come equipped with a 6.6 or 7.2 kW charger as standard.
Where and how can you purchase an electric car?
When it comes to where and how to purchase an EV, your options are open. The majority are sold through conventional auto dealerships, but others, like Tesla models, are sold to customers directly through the company website. You may learn how to manage the buying or leasing process for an EV by using our guide on selecting and purchasing one.
What Purchase Incentives are Offered for Electric Vehicles?
The cost of many electric vehicles can be significantly reduced because to generous federal, state, local, and utility subsidies. The Federal Electric Car Tax Credit, which is worth up to $7,500, is the largest one. Although not all customers or automobiles are eligible, the majority are.
Should You Purchase or Rent an EV?
Both leasing and purchasing electric vehicles have certain benefits. Most incentives are available to buyers alone; lessees may or may not receive them from leasing businesses. On the other side, leasing an EV allows you to quickly switch to the newest technology every few years. Electric vehicle technology is growing quickly.
How Can You Tell Which EV Is Best?
Choosing the best electric vehicle for your needs and budget might be difficult with the growing number of electric vehicles on the market. To discover how the various EV vehicles stack up, check out our rankings and reviews of new cars. They are made to respond to the inquiries that prospective car buyers have when searching for a new vehicle.
Do Electric Cars Have Lower Maintenance Costs?
Electric automobiles should be less expensive to maintain for the majority of routine maintenance. Compared to conventional cars, EVs have far less mechanical components. They require less brake maintenance and fewer frequent oil changes than gasoline-powered automobiles. Naturally, you’ll still want to have a mechanic occasionally check out your car to make sure everything is still operating as it should, including the safety features.
Similar to gas-powered automobiles, electric vehicles can become more expensive to maintain as they age. If a replacement battery pack is not covered by a warranty, it may be very expensive. It can be expensive after the warranty to replace the enormous central command screens that are typical of many electric vehicles.