Buying an Electric Vehicle: When Is The Right Time To Buy?
50% of new car sales in Australia will account for electric vehicles in 2035, according to the Guardian. It is impossible to miss the hype about how electrifying cars reduce greenhouse gas emissions. Car enthusiasts also claim driving electrified vehicles is cheap, quiet, relaxing, and cost less on maintenance. With the rapid advance in technology and predicted price falls, it is understandable if you are concerned about the right timing to switch to green transportation. The truth is that you can purchase EVs at any time. But first, you must understand how to avoid pitfalls when buying your first car to ensure you settle for the right electric-powered model.
Latest Buying Trends
Before you can make a purchase, it is worth knowing what other drivers are looking for in electric-powered vehicles. Failure to understand the current electric car buying trends can cost you thousands of dollars because you might make the wrong decision. Start by checking the consumer interests in driving electrified cars, the different options available, and the key reasons consumers are shifting towards a specific direction. Currently, the number of people interested in EVs has increased. However, a large number of consumers intend to purchase hybrids. Also, the interest in buying used electric vehicles is rising, even though there are only a few pre-owned electric cars in the market.
Electric vehicles have fewer moving parts that require frequent monitoring and repairs.
What is in the Consumer Reports?
While you can find answers to questions related to EVs on various online sources, it pays to read consumer reviews from trusted sources. Reputable review sites use feedback from verified car owners to provide unbiased automobile reviews and ratings. Reading reviews based on user experiences helps you to choose a suitable automobile based on price, size, and model. From consumer reports, you will get a clear perspective of the quality and reliability of different models. The resale value, driving, and dealership experience are well elaborated to make your purchasing experience hassle-free.
Technology “Hybrid or Fully Electric”
With many electrified models available, choosing the one that fits your needs can be challenging. It is worth noting the differences in terms of technology and the factors that may affect your decision. Hybrid electric cars, for instance, operate on two energy sources, which makes them efficient and suitable if you live in an area where finding a charging station can be a struggle. Hybrids charge their battery, and both plug-in and standard models come with gas engines, meaning you won’t run out of energy even when driving long distances.
On the other hand, pure electric or battery-operated vehicles run on electricity. They are a suitable choice for anyone looking to save money on gas and regular maintenance. Electric cars are not only cheap but also good for the environment. They don’t release greenhouse gases, meaning driving one reduces your carbon footprint. Plus, owning an electric car makes you eligible for government rebates. Like traditional cars, both hybrids and pure electrics have disadvantages. So make sure to study the pros and cons of buying EVs beforehand to determine whether you should invest now or wait for the next-gen cars that may have enhanced features.
Cost of Owning Electric Cars
Although the initial price of buying an EV is relatively high, the running costs are affordable compared to gas-fuelled cars. A good example is the Hyundai Kona Electric, which costs $59,990 plus on-road costs, $20,000 more than the petrol-powered Kona Highlander. But if you compare the expenses of petrol or diesel to that of charging cars, the overall price of electric vehicles is cheap. On average, the cost of owning and driving EVs in Australia is $319.30 per week. An EV has fewer moving parts that require frequent monitoring and repairs. Ideally, you will be spending less on maintenance compared to what you would spend on conventional vehicles.
Battery Sufficiency
Another factor to consider is the range or battery sufficiency. In the past few years, range anxiety was the number one reason for not buying an EV. Consumers were wary about riding electrified autos because they doubted the battery charge would last their entire journey. This is no longer a significant problem among consumers. The latest models, such as the Nissan Leaf can travel 150 miles, while Tesla Model 3 can go up to 310 miles. If you have the budget for high-end models that come with long-range batteries, you can enjoy riding 375 miles.
Owning an electrified vehicle is tempting, given the many benefits consumers enjoy. However, the right time to make a purchase depends on your needs and budget. It is wise to analyse the market, learn how different models work, and the total cost of ownership. That way, you will know when the time is right to make a purchase.
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One Response to “Buying an Electric Vehicle: When Is The Right Time To Buy?”
[…] Electric vehicles have seen sales triple over the past couple of years with 6718 vehicles sold across Australia in 2019 and experts forecasting a global sales growth from 2.5 million in 2020 to 11.2 million in 2025. […]
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