Know These 3 Things Before Buying an EV

With these crazy gas prices you’ve now decided an EV is for you. Great decision!

I’ve been driving an EV for over two years now. My decision to get an EV was sudden and perhaps a little bit accidental, but the only thing I regret is that I didn’t do it sooner.

Here are are three things you should know to make it easy to jump into the EV world.

How will you charge?

Charging is not complicated, but it is different than filling a gas tank. In fact, many people often think it will be the same as getting gas, just slower.

But the reality is that if you can charge at home, it will be much different than you are used to and also significantly easier.

If you can charge at home (or work), even using just a regular 110-volt outlet, then your EV experience will be a breeze. And if you have access to a 240-volt charger, you’ll mostly never worry about charging at all.

If you cannot charge at home or work, you’ll have to rely on public DC fast chargers. This is actually more like filling a gas tank: you’ll have to drive somewhere to charge and wait. This type of charging is also more expensive, although it is still less than gasoline costs these days.

Any of these options can work, but it is worth thinking about before you purchase your first EV.

If you own your own home, getting a 240-volt charger installed in the the garage is often worth the initial investment, which ranges about $500 to $2000.

How many miles do you typically drive?

The number of miles you drive each day is also highly relevant. The average driver only drives about 30 to 40 miles a day, which is actually not much.

If you also only drive a low number of miles each day, then any charging method will work just fine for you. However, if you drive many more miles per day then you may want to ensure you have easy access to 240-volt charging.

These days, EVs have ranges of about 150 to 350 miles, depending on weather and other factors. Unless you have a regular round-trips that are more than your EVs range, you generally won’t have much to worry about.

Used or new?

Many people often think that EVs are just too expensive. I used to think so as well. However that is far less true today than it has been.

In particular, new EVs are becoming much closer in price to their gas counterparts. And if you factor in the reduced maintenance costs, they can even cost less.

EVs still have significant depreciation and that is something to consider. If you want a new EV you will often find that leasing is a better choice, unless you intend to keep your vehicle for five years or more.

But don’t sleep on another overlooked option: a used EV. Because many people lease EVs and turn them in for newer models, you can get lightly used EVs at great prices.

And because EVs need little maintenance there is also far less risk than buying a gas car which may not have had its required service done properly. I often hear from people worrying about the battery in an EV failing, but recent studies have shown that EV batteries are expected to outlast the vehicle itself. Plus, EV batteries are warrantied for at least 8 years and 100,000 miles (in the US) so much of the warranty is still applicable even to used EVs.

It can sometimes be tricky to find good used EVs, but that is getting easier with EV-only used dealers such as Green Wave, Eco Auto and EV Auto. Of these, Green Wave has the best selection of non-Tesla EVs.

Need help on your first EV purchase? Sign up for a Personal EV Advisory Session today!