going electric
Saving Money

Is Going Electric Worth It?

In recent years, especially in the automotive industry, “going electric” has been the talk of the town. More and more people are finding ways to conserve energy, use less fossil fuel, and use more renewable energy. One of the easiest ways to do this is by ditching a gas guzzling car and going electric. Since vehicles are arguably deemed as a necessity in most parts of the US, going from gas to electric is a simple way to reduce one’s carbon footprint

However, not all glitter is gold. It’s easy to hop on board the electric train, but where there are pros, there are also cons. If you’re in the market for a new car and you’re debating on whether or not to go electric, consider balancing out these next few pros and cons:

Pros:

  1. No need to pay for gas anymore – big money savings (especially now, when gas prices are more expensive than they’ve ever been… i.e. in LA, California, gas is upwards of $6 per gallon.)
  2. Supporting a worldwide initiative of “going green”, slowing down climate change, and using less fossil fuel 
  3. No more waiting at gas stations to fill up your tank
  4. New and cool technology coming out every day
  5. Some states offer incentives to go electric
  6. Electric cars are often very, very fast compared to their gasoline-powered counterparts because power is instantaneous

Cons:

  1. Most electric vehicles get less mileage than their gas competitors (except for most Teslas)
  2. Technology is still developing, so many car brands do not offer electric options
  3. Road trips are a bit more difficult – you have to plan out ahead of time where you’ll be able to recharge when you get close to losing all of your battery 
  4. You have to pay for installment of a home charger as well as offsite supercharging
  5. Electric vehicles are more expensive to lease and buy

For most people considering their next car, the option usually comes down to pricing. Generally speaking, electric vehicles are indeed a bit more expensive than a traditional gas-fueled vehicle. This is because the technology is new, and it’s expensive to make the batteries for these vehicles. As of late, it’s also been a supply chain issue.

However, as time goes on, more and more car brands are releasing electric vehicles. This will create a more level playing field, allowing the average American the option to be able to afford going EV. For example, a lowest cost Tesla Model 3 base model will go for about $45,000. In essence, that’s around the same cost as a BMW 3 series. So, electric vehicles do indeed appeal to those with a bit of a higher budget – but, not TOO high. It’s important to take into consideration the gas savings, as well. Saving upwards of $3,000 in gas money per year is a big savings. 

Ultimately, the choice should be made after taking into account the pros and cons. Although there are many benefits to owning an electric vehicle, there are also some nuances that not everyone is comfortable with. Not everyone is ready to make the jump. It’s important to weigh out your options and give it some hard thought. You never know – you may be the next pleasantly surprised owner of an electric vehicle!

 

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Cristofer Montel
Cristofer Montel is a South Florida Native, swearing that Boca Raton is much more than just a retirement destination for Northerners. He went to Florida State University for his Bachelors degree and then on to Nova Southeastern University for law school. In his spare time, he scrolls through pages and pages of car content on Instagram. When he's not drowning in legal work, he writes for a marketing and advertising consultancy

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