Business

So do you want to buy an electric car?Here are five things you need to know

EVs are cheaper to drive and easier to maintain than gasoline cars, but they are not cheap even with rebates.Therefore, use these tips first

Article content

The extraordinary cost of gas has many people ready to switch to electric or hybrid vehicles.

Advertising 2

Article content

It’s a good time to consider one, as state and federal governments provide incentives to do so, and those programs won’t last forever.

Electric cars are cheaper, easier to drive and maintain than cars with internal combustion engines, but they are not cheap with rebates. So you will want to do your research first.

Here are five things you need to know before putting that cash.


1. Where can I buy it?

BC Hydro maintains an online database of all battery-powered electric vehicles and plug-in hybrid vehicles available in the state, from Audi to Volvo. It also links to each manufacturer and lists the types of rebates that may be available on different models.

by the way…

2. Can I receive a rebate?

Yes, to some extent. Both BC and the federal government offer rebates that can save up to $ 8,000 in buying or leasing electric or hybrid vehicles.

Advertising 3

Article content

However, this program is only available for passenger cars with a manufacturer’s suggested retail price of $ 55,000 or less. Therefore, if you are thinking of a new Tesla or Porsche, be prepared to pay the full amount.

There are also refunds available for the cost of installing a Level 2 EV charger in your home, townhouse, or duplex.

3. What if the new one is still too expensive?

As early adopters replace new technologies, more and more used EVs are on the market. You can buy from a private dealer or a used car dealer, or you can buy a certified used car from the manufacturer. You can pay more for the latter two, but you get a limited warranty.

Using used routes clearly reduces costs, EVs generally last longer and require less maintenance than gas-powered vehicles.

Advertising 4

Article content

However, it also has drawbacks such as a narrower battery range than the latest model. For older vehicles, you should also consider buying a new battery. Also, you can only get a limited warranty if you purchased from a dealer or an authorized second-hand seller, or you can’t get any warranty for personal sales.

4. How about continuing to charge?

Before making a choice, you need to think about your needs and habits. Do you regularly commute to work for long periods of time or drive long drives that require a longer-lasting battery? Is there a charging station where you live or work?

You can get a refund for the cost of installing a highly efficient charging station on your property, but not if you live in a condo or apartment. In that case, you should ask the formation or landlord if you plan to accommodate the EV immediately. Like individual homeowners, strata, landlords, and workplaces can apply for rebates when installing them. In this case, the station is up to $ 2,000.

Advertising 5

Article content

BC is partially developing a network of charging stations by providing incentives to the properties and businesses that create charging stations, but the grid is not universal. Tesla also uses a different type of charger than other manufacturers. See the location of plugins in the state here.

5. How much can I save by using electricity instead of gas?

Of course, the main reason to use electricity is to reduce the use of fossil fuels, but it is also an economic equation. Will you save significantly, a little, or not at all in the long run?

According to a 2020 Consumer Reports survey, fuel costs for EVs or hybrids will be about 60% lower. Now that gas prices are soaring compared to electricity bills, it’s probably even higher, and the fact that there is a way to charge an EV with little or no cost.

Advertising 6

Article content

However, these savings come after a higher initial cost to buy a vehicle. EVs are usually at least $ 10,000 more than comparable gas vehicles. Nonetheless, the same study shows that lowering EV fuel and maintenance costs can save significant savings over the life of the vehicle.

Individual results may vary depending on your habits. Take into account the amount you drive, the amount you have already paid for gas in a typical month, and do the math. After all, the switch to electricity is a personal decision and may not be driven solely by economic considerations.

jruttle@postmedia.com


Do you have questions about your decision to switch to an electric or hybrid vehicle? Send us an email.


More news, less ads, faster load times: Get unlimited adlite access to Vancouver Sun, Provins, National Post, and 13 other Canadian news sites for $ 14 / month or $ 140 / year. Subscribe now from Vancouver Sun or Province.

    Advertisement 1

Comment Comment

Postmedia maintains a lively yet civic discussion forum and encourages all readers to share their views on our articles. Moderation can take up to an hour for comments to appear on your site. Comments are relevant and should be stored with respect. You have enabled email notifications. You will now receive an email when you receive a reply to a comment, when the comment thread you are following is updated, or when a user follows a comment. For more information and details on how to adjust your email settings, see Community Guidelines.

So do you want to buy an electric car?Here are five things you need to know

Source link So do you want to buy an electric car?Here are five things you need to know

Related Articles

Back to top button