After purchasing a home, getting a new car is one of the greatest financial decisions, which many individuals make in their lives.
In the novel territory of EVs, early adopters usually turn into real pioneers leading the way to adopt eco-friendly and emission-free vehicles as a mode of transportation.
But due to customers’ inexperience in the world of electric cars, some individuals are going to suffer the consequences of getting one. So don’t be among them by considering the following factors:
1. Range
This is a feature you ought to consider. Most EVs have a battery range of between 100 and 300 miles. An average commute in the UK is around 30 minutes. So a 100-mile range can be enough for an average individual to drive without recharging their cars mid-day.
But if you need to run an AC or heater, you could be looking at a significant drop in range. On a cold day when the temperatures are below 19 degrees Fahrenheit, the range may decrease by 42%.
This makes it more important to determine how much you may need to drive every day and how the weather affects range so as to know whether the car’s range would be enough.
2. Charging Options
Even when you have standard power outlets in the garage, you might want to spend cash for EV charger installations and perhaps take advantage of level charging times.
Although it will take more than 24 hours to charge a battery-powered car fully, many models may reach their full capacity overnight through a level 2 circuit. Be sure to check with the local utility firm to determine whether they will get electricity at a discounted price.
3. Software Updates
EVs usually come with advanced technology and complex powertrain, and most manufacturers improve their electric vehicles with modern technological advancements by rolling out software updates.
A few manufacturers provide improvements to the software for free, while others charge owners for those updates. So make sure you make the right decision when buying an EV.
4. Long-Term Savings
The cost of fuel for the past few years has increased. And it is also projected to even skyrocket, with petroleum supplies decreasing and the pandemic destroying supply lines.
Charging your vehicle saves an average car driver more than $1,300 per year, this being a 74% decrease compared to the prices of fueling.
5. Resale Value
Although EVs have been available for some time now, the resale value of new models is still unknown, unlike diesel and petrol-powered cars.
You need to consider depreciation value on EVs above and over the norm since the number of miles driven can negatively affect its resale value. Plus, you will find potential purchasers pointing out the price of the replacement battery.
Final Touches!
Purchasing an electric car is equally complicated as purchasing a fuel-based vehicle. There are many factors, which may affect your final decision. But the right tools and research will surely go a long way to making a wise decision when buying an electric car for the first time.
