Tips for Thought

Getting an Electric Car? Here Are Its Pros and Cons to Consider

Gas prices are steadily rising, making it difficult for most people to get around. One solution many are considering is making the switch to an electric car. Before you invest in the switch, here are some pros and cons of owning an electric car and what to expect.

What are Electric Cars?

An electric car is a type of vehicle that operates on electricity. Its most significant difference from a standard gasoline-operated vehicle is that it has an electric motor instead of an internal combustion engine.

There are many different types of electric cars available in the market. Some of these are the following:

1. Battery Electric Vehicle (BEV). This vehicle is fully powered by electricity and is the most efficient.

2. Hybrid Electric Vehicle. This electric car comes in two types: the hybrid electric vehicle (HEV) and the plug-in electric vehicle (PHEV).

The Hybrid electric vehicle uses an internal combustion engine and a battery-powered motor powertrain. This feature means that the internal combustion engine can be used to drive and charge when the battery runs out.

On the other hand, plug-in electric vehicles use an internal combustion engine and a battery that can be charged with an external socket. The latter features a plug that can be charged with electricity rather than the engine. They are more energy-efficient than HEVs but less energy-efficient than BEVs.

3. Fuel Cell Electric Vehicle (FCEV). These cars are powered by chemical energy. Some examples are cars that run on hydrogen FCEV, where its chemical energy is converted directly into electric energy.

What are some pros of electric cars?

1. It reduces your carbon footprint.

One of the most significant advantages of owning an electric car is lessening your carbon footprint. Electric vehicles are eco-friendly compared to cars that run on various fossil fuels. At the same time, a BEV emits zero carbon dioxide into the atmosphere.

2. You may get tax credits and incentives.

Many states offer electric car incentives and a federal tax credit. However, according to the fuel economy website, electric cars purchased after January 1, 2023, will be subject to updated IRS guidance. Make sure to visit the IRS site site for guidelines in helping you gain credit.

3. You can cut your gas budget.

Considering the rising gasoline prices everywhere, many seriously consider driving an electric car instead. If you need help budgeting your gas budget, then getting an electric vehicle may be your best option.

4. It’s relatively low-maintenance.

Most electric cars come with fewer moving parts, making them a low-maintenance investment. Fully EV cars do not require oil to lubricate its engine, making them a saver’s dream!

What are some cons of electric cars?

1. It may have costly battery replacement.

While electric cars reduce costly maintenance services like oil and brake changes, many cars that operate on batteries often have a short shelf life of ten years. Additionally, replacement batteries can be costly and range up to thousands of dollars.

2. You need to pay for electricity.

While you’re no longer paying for gas, you still must pay for electricity, especially when charging your vehicle.

3. Less charging stations available.

There are more gas stations than there are charging stations for cars. This feature may be a small price to pay for users who charge at home and don’t need access to a charging station. Unfortunately, this option is unavailable for some who may be hurrying to get somewhere.

4. Limited range when driving.

Many new electric cars have improved battery technology, with more recent models operating on an effective range of over 200 miles. However, compare that to gas-powered vehicles that range at 400 miles per tank, which is just half of what you get from a classic car.

5. It’s expensive to buy at first.

Regarding initial costs, an electric car is usually expensive, especially for newer models with better battery technology. However, state and federal incentives may help the initial costs for many who want to drive an electric vehicle.

Takeaway: Electric cars are becoming more common, which means that some cons may improve. Nevertheless, while they are relatively low maintenance, it takes a while to see your overall savings. Make sure to do your research before making that big purchase.