Average Lifetime Maintenance Costs
Federal Tax Credit
Eco-conscious drivers have more and more options to choose from when it comes to environmentally-friendly vehicles. Hybrid vehicles have gained popularity over the past several years, and now more and more electric vehicles are hitting the market. What are the advantages of owning an electric vehicle? Not only are electric vehicles better for the environment, they can actually save you money over time. Blossom Chevrolet, Inc. has the details.
If you choose a fully-electric vehicle, it will not have an exhaust system. Rather than running on oil, which is a finite resource, electric vehicles can run on renewable energy sources like solar, wind, and water. An added perk of choosing an electric vehicle is that some states allow you to drive in HOV lanes and avoid heavy traffic.
There are many places you can rely on around Indianapolis to charge your electric car on-the-go, but you’ll also want an at-home charger in your garage so you can prepare for your next ride. You can choose between a Level 1 charger, which provides a full charge in 24 hours, or a Level 2 option, which fully charges your car in 3 hours.
To ensure you never miss a beat when you’re around town, you can rely on helpful sources like PlugShare and Chargeway so you can easily find the nearest charging station near you as well as other local spots that ensure you can charge your car when needed.
Despite the fact that electric cars may cost more, you can enjoy great savings thanks to federal tax credits and incentives. For instance, here in Tennessee, plug-in hybrids and all-electric vehicles qualify for a $2,500 to $7,500 federal tax credit.
More and more charging stations are popping up around Indianapolis and Lawrence, so charging on-the-go is hassle-free. You can also charge your EV right at home. Opt for a standard Level 1 charger, which provides a full charge in 24 hours, or upgrade to a Level 2 option, and your car can be fully charged in approximately 3 hours.
If you are going to be out and about around Greenfield or away from home, it is a good idea to familiarize yourself with charging options in your area. By consulting sources like PlugShare or Chargeway, you can find nearby charging stations in no time!
While an electric car may be slightly more expensive upfront, federal tax credits and incentives could make your new EV even more affordable than you once thought. These savings could be as much as $7,500!
How does the cost of ownership for an electric car compare to a gasoline-powered vehicle? As mentioned above, electric cars generally cost a bit more initially, but federal tax credits can help you stay within your budget. When it comes to maintenance costs, you can expect to spend significantly less over time to keep your EV in pristine condition. With an EV, it is estimated that you will spend roughly $4,600 in total lifetime service. That’s quite a bit less than the average of $9,200 for a gasoline vehicle.
If an electric vehicle sounds like the right choice for you, we invite you to Blossom Chevrolet, Inc. to set up a test drive in your favorite electric cars. Contact us today for more information about our vehicles of EV ownership. We look forward to showing you just how much of a great value an electric vehicle can be!
*Based on estimates from the U.S Department of Energy.