Everything You Need to Know Before Buying an Electric Vehicle


Many automobile manufacturers are jumping onto the electric vehicle (EV) bandwagon, introducing at least one full EV or plug-in hybrid EV (PHEV) into their model lineup. With many incentives and advantages to owning an EV, it is important to consider all data points before jumping into the electric vehicle market.

Why Buy an EV?

There are many advantages to owning an EV, the most obvious of which is the fuel cost savings. With a fully electric vehicle, fuel expenses are drastically reduced when gas costs are replaced with the minimal electric cost. The average fuel savings for an EV owner is approximately $1,500 per year.

The second advantage to owning an EV is the ability to reduce your carbon footprint and cut back on greenhouse gas emissions. Switching to an EV is an important part of meeting global goals on climate change.

Other advantages to owning an EV include lower maintenance costs. Electric cars do not have an engine that requires oil to lubricate, so the cost for frequent oil changes is eliminated. In addition, in looking at the list of top 10 most frequent car repairs, none apply to electric vehicles. This can translate into large cost savings.

EVs also offer a more comfortable driving experience. Drivers can enjoy a smoother and quieter ride, as well as more adept handling and responsiveness. The electric engine also responds better when accelerating and decelerating.

What is the Cost/Benefit of EVs?

Electric vehicles are becoming increasingly affordable as more automakers offer more models and options. For example, the Hyundai Kona EV starts around $30,000. While this is not cheap, it becomes more affordable thanks to federal tax credits and the elimination of gasoline costs.

Many maintenance costs are also eliminated when choosing a fully electric vehicle. In a cost/benefit analysis, the initial higher price tag is more than recouped in lower costs throughout the vehicle's life.

What Federal Rebate Programs are Available?

Across Canada, there are federal and provincial rebate programs available for the purchase of EVs. In terms of federal incentives, the Canadian government offers point-of-sale rebates of up to $5,000 for consumers who buy or lease an EV or PHEV.

What Maintenance is Required on EVs?

As mentioned before, EVs typically require less maintenance than conventional, gas-powered vehicles with internal-combustion engines. The battery, motor, and associated electronics require to little to no regular maintenance. With no engine, there are fewer fluids that require regular maintenance, such as engine oil or transmission fluid.

Regenerative braking also significantly reduces brake wear, lengthening the time between brake pad and rotor replacement.

EVs are the Future

EVs have been around for a while; they are simply becoming more mainstream and grabbing the attention of regular drivers now that more manufacturers are producing them. There are many advantages and disadvantages to consider when choosing between a regular gas-powered vehicle and a full EV, but the pros outweigh the cons in the long run by providing drivers with a more environmentally friendly and economical driving option.

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