Electric vehicles are becoming more popular, with sales increasing in recent years. In addition, new federal tax breaks can help you keep more money in your wallet when buying an EV.
This type of car is especially worth considering for certain types of drivers. If the items on this list describe you, it could mean it’s time to get an electric vehicle.
Resolve $10,000 or more of your debt
Credit card debt is suffocating. It constantly weighs on your mind and controls every choice you make. You can end up emotionally and even physically drained from it. And even though you make regular payments, it feels like you can never make any progress because of the interest.
National Debt Relief could help you resolve your credit card debt with an affordable plan that works for you. Just tell them your situation, then find out your debt relief options.
How to get National Debt Relief to help you resolve your debt: Sign up for a free debt assessment here. (Do not skip this step!) By signing up for a free assessment, National Debt Relief can assist you in settling your debt, but only if you schedule the assessment.
You live somewhere with high gas prices
Fuel costs are often a major motivator for consumers considering switching to an EV so they can actually cut car costs. That is especially true in areas where gas prices are particularly high.
Sit down and compare the cost of fueling up your car on a regular basis with the cost of electricity when charging your vehicle. There is a good chance the EV will win out over a gas-powered car.
You do a lot of local driving
“Range anxiety” is the fear of running out of battery power while driving an electric vehicle long distances. This can be a real worry.
But many people spend most of their driving time making short trips around town. If that describes you, range anxiety should not be a major fear. That can make an EV more attractive.
You have a house with a garage
One of the great things about electric cars is the convenience of charging your vehicle at home. But that option might or might not be available to you depending on your living situation.
Buying an EV might make more sense if you live in a home with its own garage. That makes it easy to access electric power through a plug or charge port.
But don’t rule out an EV just because you live in an apartment. Some rentals offer dedicated parking spots with charging stations.
Don't let home repairs drain your bank account
Did you know if your air conditioner stops working, your homeowner’s insurance won’t cover it? Same with plumbing, electrical issues, appliances, and more. Not being able to make repairs could leave you in a bad situation — but a home warranty could protect you against surprise expenses.
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If a covered system in your home breaks down, you can call their hotline 24/7 for assistance to get it repaired. They have a network of over 15,000 technicians that can assist you, making sure any issue can be taken care of swiftly — without breaking the bank.
Not sure if it’s for you? Rest easy: they were named one of the "Best Home Warranty Companies" by US News 360 Reviews and were awarded Best Company's 2020 Consumer's Choice Award. For a limited time, you can get your first month free when you sign up for a Single Payment home warranty plan.
You're trying to save money on taxes
The federal government is offering tax breaks to people who buy electric vehicles, which can make them more affordable.
Right now, you can get up to $7,500 in tax incentives when you buy an electric vehicle. So, talk to your car dealer and find out if it sells models that qualify for the tax break.
Be sure to do your homework, as not all EVs qualify for the incentives.
You want the convenience of charging instead of filling up
It can be frustrating to drive around looking for a gas station to fill up your tank when your car is running low on fuel. You also might not like the idea of standing in the snow or rain just to get gas.
EVs offer the convenience of being able to charge your vehicle in your own garage, where you don’t have to deal with the outside elements or driving around trying to find a gas station.
You have a charging station at work
Many people find that most of their driving each day centers around driving from home to their job. Fortunately, more businesses are adding EV chargers to the parking lots of commercial buildings and offices.
Keep an eye out for charging stations at your office. They can offer a convenient way to charge your vehicle while you’re sitting at work.
You don't live in a cold climate
One of the downsides of owning an electric vehicle is that it might not run as well during colder months.
The battery has to work harder when it’s cold. This means that your driving range might be reduced during colder weather.
There are ways to get around some of these issues, such as warming up your car in the morning while your vehicle is still plugged in or keeping the temperature low inside.
However, you might want to think twice about EV if you live in a state such as Minnesota, Maine, or Montana.
You care about the environment
For many folks, climate change and other environmental issues are major worries. Switching to an electric vehicle can reduce your carbon footprint.
You will feel better about driving knowing that your tailpipe is not putting extra pollution into the air.
Your car is parked most of the time
Think about how often you actually drive your car on a daily basis. Many people drive very little during the course of a typical 24-hour period.
That means that if you work from home or in an office with charging stations, you can easily charge your vehicle when it is sitting idle. This can be another good reason to buy an EV.
Electric vehicles can be a good option if you want to boost your bank account by saving money that otherwise would go toward paying for gasoline.
So, if the items on this list describe you, it might be time to consider switching to an electric vehicle.