With gas prices near an all-time high, you may be considering an electric vehicle, especially as more car manufacturers create new models. But are they worth it? Only you can decide. Here are some pros and cons to owning an electric vehicle.
Pro: No Gas
As previously mentioned, likely the biggest perk is that electric cars don’t require regular fill-ups at the gas station, especially since Americans, on average, spend $5,000 a year on gas! Keep in mind that some electric vehicles and hybrids still use a gasoline engine as a range extender, though!
Con: The Cost of Electricity
Electricity isn’t free, and though it may ultimately be cheaper than fluctuating gas prices, you do still have to pay to charge it either at home or a station. For most people who don’t live next to an abundance of public charging stations, they will need to have one installed in their home, which can also be costly.
Pro: No More Oil Changes
While electric cars run on electricity, they don’t require oil to lubricate their engines. Thus, oil changes aren’t a thing! However, you’ll still have to enlist the help of your trusted mechanic for service on your brakes, tires, and fluids.
Con: Pricey Battery Replacements
Batteries for electric vehicles are estimated to last roughly a decade if they are well maintained, but they also cost thousands of dollars, making them much more expensive than a gas-powered car.
Likely the largest drawback for all electric vehicle owners is the fear of running out of battery without a charging station nearby. Some electric vehicles have a backup gas engine, and some have larger ranges than others, but it’s important to look at any long route you take prior to driving so you can plan accordingly.
Pro: Tax Credits and Incentives
Certain electric vehicles come with federal tax credits and other state and local incentives. It’s important to do your research!