Deciding Whether to Get an Electric Vehicle in 2022

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  • Post last modified:July 20, 2022
  • Post category:Blog
  • Reading time:8 mins read

In 2022, it’s hard to find anyone who doesn’t believe that gas-powered vehicles harm the planet. You may still find an occasional climate change denier or someone who downplays this threat, but most people know the more gas-powered cars we have on the road, the worse environmental concerns get.

However, just because you know an electric vehicle will help the planet, that doesn’t mean you’re in a position to simply trade in your gas-powered car for an electric one right now. We’ll talk about whether you should get an electric vehicle in the following article. It’s a decision with a lot of factors potentially going into it.

Are Car Companies on Board?

At one point, some car companies seemed to feel like electric vehicles were not all that viable. Some of them entered the market with hybrid cars, but since then, the technology has advanced. Now, many more manufacturers offer both hybrid and electric vehicles. It’s not impossible we could see no further companies making gas-powered cars within the next couple of decades.

For instance, Ford wants a 40% electric car fleet by 2030. That seems like a modest goal, but they’ll need to take serious steps in that direction to get there in the next eight years. Many other companies have similar ambitions, so it’s safe to say that car manufacturers want to wean the public off gas-powered vehicles at some point.

You Can Find Cheaper Electric Vehicles Now

That leads to our first point if you’re trying to choose whether or not to get an electric car this year. Because car companies want to get more individuals and families driving electric vehicles either now or in the not-too-distant future, they keep coming out with cheaper options. “Cheaper” is a relative term, though.

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If you want a brand-new electric vehicle, the Nissan Leaf is probably the cheapest option you can currently find. You can get one for a little under $30,000. That’s not all that much when you look at some other cars on the market. Still, how many families or individuals can afford to drop $30K at this moment?

Inflation has made everything more expensive in recent months. Even someone who wants a new car probably doesn’t have the ready cash to spend that much on a new one unless they’re doing very well financially.

You can probably knock down that $30K price tag, though, if you trade in your current vehicle at the same time. Depending on your current car’s age, how many miles you have on it, its condition, etc., you might get the price of that Leaf down to $15-20K. You will also find several other electric vehicles ranging from $30-40K if the Leaf does not appeal to you.

Financing Makes the Cost Easier to Accept

Of course, nothing says you must buy the new car outright. If you don’t have $15-20K to spend after you’ve traded in your current gas-powered or hybrid car, you can finance the new electric vehicle’s cost. 

You might get a favorable deal, particularly if you have a solid credit score. Also, you can lease an electric car if you would prefer not to buy one.

Some people don’t like financing, preferring to either buy a brand-new or used vehicle once they have saved up the money to get one. That’s somewhat preferable since it means you won’t have to pay a set amount for the car in monthly installments. You’ll just have to pay for the insurance, the upkeep, and other smaller car-related expenses that might come up.  

Other Considerations

You might also look into government subsidies that exist regarding electric vehicle purchases. Some cars don’t come with those, but many electric vehicles come with a cash incentive. The government knows the public should get away from gas-powered cars and start driving electric ones as soon as they reasonably can. Some rebates can knock several thousand dollars off your new vehicle’s price.

Also, you can look into used electric cars. You will probably not find as many of them as you will a few years down the line, but sometimes you will get lucky and come across one in good shape without too many miles on it. Buying a used electric car won’t cost as much as a new one, the same as you’d see with a gas-powered vehicle.

Maybe you worry about not finding enough electric vehicle charging stations if you get an electric car. This concerns people who drive across the country to see family a lot or those who do it for work.

The federal and local governments keep building more and more electric vehicle charging stations as the years pass, though. If this particular issue worries you, check into what charging stations you can find along routes you usually drive. You might find that more exists right now than you fear.

Is This the Year You Make the Switch?

Everyone has different financial situations, and perhaps it’s simply not possible to make the switch from a gas-powered car to an electric one right now. When you look at your bank account, you might realize that you have to stick with the vehicle you have at the moment, even with possible government subsidies and the money you’d get from your trade-in.

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Next year you might make the switch or the year after that. Most people feel they want to help the planet by going with an electric vehicle because they want to leave the Earth in better shape for their kids and future generations.

Each year that passes, think about whether the time feels right to transition to a more environmentally-friendly vehicle. If you do not feel like you can afford an entirely electric one anytime soon, maybe a used hybrid vehicle makes more sense for you.

You can set a great example for your kids by making this change. You’ll also save money on gas, and just about everyone wants to do that these days.

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