There is a lot to weigh when deciding to buy an electric car –the cost, maintenance, insurance coverage, and how much you drive. One of the main reasons people buy electric cars is to reduce their carbon footprints and help the environment by not using gas. Right off the bat, we can tell you that maintenance of an electric car is the biggest selling point because it’s cheaper than standard maintenance. At the same time, car insurance for electric vehicles can cost a little more than that of a standard one. In order to keep an electric car running, there are times when you have to take it in for an inspection or maintenance check –more so than gasoline cars. The good news is that these can be done for free. Here is everything you need to know about buying, maintaining, and insuring an electric car.
Buying an Electric Car
The industry average sticker price for a car is about $46,319, including some SUVs and mid-sized pickups. Midsize SUVs are also becoming extremely popular among consumers in recent times. The industry average for an electric car for sale is about $56,437. However, there are some instances of electric cars costing as much as a standard car or even less –, but they often have some years on them. But as previously mentioned, this is not why people buy electric cars –it’s the cost of maintenance and upkeep, which is significantly lower than average.
Maintaining an Electric Car
Comparing the annual maintenance and fuel/energy costs of keeping an electric and standard car running, it’s obvious that someone can save just over $1,000 by driving an electric car. On average, maintaining a normal car costs about $4,336 a year, including fuel, oil, and regular service costs. For an electric car, the cost is $3,679 –nearly a $1,000 difference, as previously mentioned. Electrics lack some of the parts that require maintenance that standard cars do, and refueling is done entirely by outlet. A good tidbit of information worth knowing is that the cost of power is just as volatile and subject to change as petroleum is. Recharging your electric car during the day may cost less than charging it at night, for example, when everyone is using less power. Still, it remains less than the cost of gas and oil-engine maintenance.
Car Insurance For an Electric Car
While the cost of maintenance and “refueling” is less than the standard, the same can’t be said for car insurance for electric cars. Car insurance isn’t just based on the risk of the car and driver but also on the value of the car. As we’ve gone over and stressed, electric cars cost more than standard cars and are therefore worth more. A lot of it is based on the replacement cost of the technology that electric cars use, as they are harder to get than standard parts. There isn’t much you can do since it’s the car’s design, but you can go the reliable route of being a safe driver and qualifying for discounts. Several electric cars are built with the latest safety features, so safe driving can become a natural reflex. The best drivers pay the lowest car insurance rates regardless of the car they drive.