Are you noticing more of your neighbours installing electric car charging stations, and wondering whether or not you should make the leap to a greener ride? While most cars still require a gas-powered engine, there’s no doubt that you’re sharing the road with more electric vehicles (EVs) than ever before. If you’re questioning whether or not you should invest in this trendy technology, consider these four reasons why you should buy an electric car.
You’ll qualify for rebates.
In one Canadian survey, half of respondents felt that electric vehicles were too expensive. It’s true that most electric vehicles are pricier than their gas-powered counterparts, even without the added cost of installing a home charging station. Before you let the price tag scare you off, research rebate programs in your province. For example, Ontario’s Electric and Hydrogen Vehicle Incentive Program offers incentives varying from $5,000 to $14,000 for battery electric vehicles and plug-in hybrid electric vehicles. The province also offers an Electric Vehicle Charging Incentive Program that provides rebates on the purchase and installation costs of a home charging station.
You’ll pay less in maintenance costs.
A recent global report on the total cost of car ownership in three countries – the U.K., U.S. and Japan – found that the cheapest option for car owners was a fully-electric vehicle. Government subsidies accounted for some of the cost difference, but maintenance costs were also lowest for electric vehicles. One reason electric vehicles are cheaper to maintain is that without an engine, they have fewer moving parts to breakdown, like gaskets, cylinder heads, spark plugs or valves.
If you decide to crunch some numbers and determine the total cost of owning an electric vehicle, don’t forget to consider whether or not you can find savings in other areas, such as asking your car insurance provider if they provide discounts for electric vehicles – and shopping around for a cheaper premium if they don’t.
You’ll be able to give up gas.
Considering that experts are forecasting Canadian gas prices to hit an all-time high in 2018, giving up gas will put some extra money in your pockets. The same global study that found maintenance costs were lowest for electric vehicles found that they also had the lowest fuel costs – even accounting for a higher electricity bill as a result of charging the car. Even if you’re not ready to go fully electric, hybrid cars can use up to 50 percent less fuel than gas-powered vehicles, meaning you’ll be filling up your tank half as much as you do now.
You’ll help save the planet.
Transportation represents 23 percent of Canada’s greenhouse gas emissions, and one way to lower that number is by encouraging Canadians to drive electric vehicless. The environment action organization Environmental Defence calculates that using electricity to power an electric vehicle reduces greenhouse emissions by up to 90 percent per vehicle.
If you’re in the market for a new car, why not test drive an electric vehicle to see if it’s as good as it sounds? When you’re done comparing the pros and cons of owning an environmentally-friendly car, you might be the next household on the block to install a charging station in your driveway!