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About to Buy an Electric Car? Consider These Important 7 Facts Before You Make the Final Call

Are you looking to buy an electric vehicle (EV)? Is an electric car going to cost you more than a conventional car in the long run? What is its driving range? Does it cost more in insurance? Which type will suit you the most?

We’ve looked at seven essential facts for you to consider below.

7 Facts to consider before Buying an Electric Car

It’s important to understand your car, including its specifications, range, battery warranty, etc. Here are seven essential facts to review before opting to buy your electric car:

1.    What Should Be Your Electric Car (EV) Type?

Have you decided which type of electric car you want to buy?

Electric cars don’t come in a single design. Rather, there are four different types:

  • Fully electric or All-Electric Vehicle: This car is also known as a battery-electric car which has an electric motor instead of an internal combustion engine.
  • Hybrid electric: It’s a combination of petrol and battery engines. The petrol engine helps in driving and recharging when the battery power is zero.
  • Plug-in hybrid: It’s almost the same as the hybrid electric car, but here, the battery can be charged by the external plug-in (socket) option.
  • Fuel cell electric: It’s a chemical energy-based electric car. It’s powered by compressed hydrogen gas which is transferred into electrical energy to run the vehicle.

According to experts, fully electric or all-electric cars are more efficient than their other variants. So, decide which type will suit your needs and lifestyle.

2.    What’s Your EV Budget?

How much have you saved for filling your garage with an electric car? An EV is environment-friendly, but it can challenge your purchasing capacity.

Manufacturers such as Audi, Tesla, Volvo, BMW and Nissan have diverse models but EVs can be expensive due to having a large battery.

3.    Are You Buying or Leasing?

If your budget isn’t that high to buy an electric car in one shot, you can lease it. Most electric cars are leased rather than purchased.

Leasing an electric car allows you to enjoy the vehicle for two to four years and then opt for the latest model, with payments lower than buying outright.

However you may have to pay some extra at the end of the lease period due to extra mileage (exceeding the stated limit). The same goes for returning a poorly maintained vehicle to the company.

4.    What is its Driving Range?

The distance the electric car can cover on a single full charge is important to avoid having to find charging stations on long journeys.

5.    What Are the Charging Options?

Although the charging stations in the US, as well as the UK, are growing in number, a better option is to charge your EV at home. It may take around eight to twenty-four hours to fully charge it from a wall power outlet through a socket. A wall box will be much quicker.

6.    How Much Is Its Insurance Cost?

An important aspect of buying and running an EV is the insurance cost.

Some sources say that the premium for EV insurance can be around twenty-one percent higher than that of petrol-powered cars.

Electric cars are more expensive than the regular models, so insuring such a vehicle costs more, and repair can be higher due to its expensive battery pack.

7.    What’s Its Battery Warranty?

Never ever miss out on considering the battery warranty of your electric car. The battery pack is the most expensive part of the EV and it must be warranted in that manner.

Companies are giving battery warranties based on driving range and period. The US federal law ensures that all automakers provide at least eight to ten years of warranty on the EV’s battery packs. Also, the automakers provide battery warranty on driving distances ranging from a hundred to a hundred and fifty thousand miles.

Key Takeaways

Electric cars can be more expensive to buy, but their running costs will be cheaper. Pure EVs have zero tailpipe emissions and they offer a better driving experience than petrol, diesel, hybrid or plug-in hybrid cars.