How to Chose an Electric Vehicle

This year’s wildly fluctuating gas prices have helped make electric vehicles (EVs) more popular than ever and it’s not hard to see why. Besides saving you those thousands of dollars you spend at the pump each year, EVs have an important role to play in protecting the environment and slowing the rate of climate change. They’re also proven to be dependable and come in lots of sporty models.

That said, consumers should put some time into researching EVs before switching from gas-powered vehicles. The reality is that even with a greater number of them on the road each year, EVs still rank among the most expensive cars in America. In addition, ongoing supply-chain issues mean you rarely have the opportunity to simply walk on the lot and drive one home. Here are some important factors to consider if you’re thinking of making the jump to an EV.

Affordability: As noted, EVs are pricey, particularly when compared to similarly performing gasoline-powered vehicles. Give that, your first step is to come up with a realistic estimate of how large a car payment your monthly budget can handle. If those numbers indicate something less than top-of-the-line, take a look at Nissan Leaf (starting price $27,400), Chevrolet Bolt ($31,500) or Hyundai Kona ($34,000). Also be aware of the federal EV tax credit, an incentive worth up to $7,500. That can make a difference, although you will first need to buy the car before the IRS gets involved.

Consider a Hybrid: Potential EV purchasers have two other challenges to think about – can they install a car charger at home and do they have access to an adequate charging infrastructure. If the answers are no, it might be time to look at a hybrid, which are substantially less expensive but still offer improved mileage. Turns out the hybrid option – even with its part reliance on gasoline – might meet most or all of your EV needs. Going Places: Another factor to consider is how much range you need given your normal driving patterns. Longer-range vehicles are all well and good, but many require a mix of large batteries, lightweight materials and aerodynamic design, none of which come cheap. Figure out how far you want to travel between charges and make your purchase accordingly, bearing in mind that EV mile-range estimates are best-case scenarios that fluctuate based on how you drive. It’s also wise to invest in a little more range than you think you’ll need.

Leasing and the Used Market: With EVs, as with their gas-powered counterparts, remember there are always alternatives to buying a new model. Leasing, for example, eliminates most of the financial pressures of acquiring an EV, although the fact you don’t own the car outright means there are limitations to its use. Meanwhile, a used EV could save you money and enable you to avoid waiting for your car to arrive from the factory. The downside is that older cars may have some wear and tear.

At Harmony Communities, we feel strongly that each resident has a sense of home. That they come home from work and feel pride in their environment and in their place in the greater community. That families are comfortable raising children in our neighborhoods, and that couples and singles know that they belong to something bigger than their four walls. In other words, we seek to create harmony within each community, making our communities not just passable, but peaceful, safe, functional, and beautiful.