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Things to Consider When Buying an Electric Vehicle

Things to Consider When Buying an Electric Vehicle

Friday, 26 April 2024

The automotive landscape is undergoing a quiet revolution, and at the forefront of this transformation are electric vehicles (EVs). These sleek, silent machines are no longer a futuristic fantasy; they’re here, they’re practical, and they’re changing the way we think about transportation. If you’re considering switching from a gas-powered car to an EV, you’re in good company. But before you take the plunge, let’s dive into the essential factors you must consider.

 

Understanding Electric Vehicles

If you’re interested in electric cars, it’s important to understand the different types of available electric vehicles. This can help you make an informed decision about which type of electric car is right for you. There are three main types of EVs: BEVs, PHEVs, and HEVs.

  • Battery Electric Vehicles (BEVs): These are fully electric vehicles with rechargeable battery packs and no internal combustion engines.
  • Plug-in Hybrid Electric Vehicles (PHEVs): These cars have both an electric battery pack and a gasoline engine, offering a combination of electric-only range and traditional fuel support.
  • Hybrid Electric Vehicles (HEVs): While not plug-in capable, HEVs use a battery and electric motor to improve fuel efficiency.

 

Does the Car Have Enough Range?

Range anxiety used to be a major concern for potential EV buyers. However, today’s EVs offer impressive ranges. Most models provide 250 to 300 miles on a single charge, with some pushing well beyond that. Tesla, the trailblazer in the EV world, boasts a lineup with over 300 miles of range. The Lucid Air currently holds the record, offering a staggering 500 miles per charge. Remember that this range can vary in real-world situations due to factors like driving habits, weather, and climate control settings. Anticipate having slightly less range than the car’s maximum EPA estimate to avoid surprises.

 

Charging Your Electric Vehicle at Home

The battery is the heart of an EV. Understand its capacity (measured in kilowatt-hours, kWh) and how it affects range. Larger batteries provide more miles but are heavier and take longer to top off completely.

Home charging is one of the most convenient benefits of owning an EV. Imagine never visiting a fuel station again! When you arrive home, simply plug your car in, and by morning, it’s ready to roll. No more smelly hands from pumping gas, no more shivering in the cold, and no more garage-to-warm-up routines. As for charging speed, Level 1 chargers (standard household outlets) are slow, while Level 2 chargers are faster. Public DC fast chargers are even quicker but less common. Ensure you have a dedicated charging solution at home. A Level 2 “fast” charger (ideally offering 7kW speeds) is a significant investment but pays off in convenience.

 

Charging Infrastructure

Beyond home charging, consider public charging infrastructure. Are there charging stations near your workplace, favourite shopping spots, or along your regular routes? Apps and websites can help you locate charging points, but planning ahead is crucial.

 

What Features Do You Need?

Modern EVs come loaded with tech features, but they come at a cost. Consider what’s essential for your lifestyle. Do you need advanced driver assistance systems (ADAS)? How about premium sound, navigation, or smartphone integration? Pay for features you’ll genuinely use.

 

In the case of an EV, the financial benefits are hard to ignore. One of the primary advantages is the lower cost of ownership over time. EVs have lower fuel costs than traditional gas-powered vehicles, saving you a lot of money in the long run. Additionally, electric cars have minimal maintenance needs due to fewer moving parts, reducing the need for regular service and repair.

 

It’s important to factor in the initial purchase price of an EV, which can be higher than a comparable gas-powered vehicle. However, many governments offer tax credits and incentives to help offset the cost of buying an EV. When you consider the total cost of ownership, including fuel and maintenance savings, tax credits, and incentives, you may find that an EV is a more affordable option in the long run.

 

Overall, owning an EV can be a smart financial decision. You will be able to save money on fuel and maintenance costs and take advantage of government incentives to reduce the initial purchase price. It’s worth exploring the financial benefits of owning an EV to see if it’s the right choice for you.

 

Environmental Impact

Choosing an EV is not just about personal convenience; it’s about making a positive impact on the environment. By opting for an EV, you’re contributing to cleaner air and reduced greenhouse gas emissions. Consider the bigger picture and the inspiring potential your choice can make.

 

Test Drive and Experience

Before committing, take an EV for a spin. Experience the thrill of instant torque, revel in the quiet ride, and explore the intuitive infotainment system. It’s a unique driving experience, and you’ll want to ensure it suits your preferences.

 

Resale Value and Warranty

Before purchasing an EV, research its resale value and remaining warranty coverage for peace of mind. It is a significant investment, and a solid warranty is an excellent option.

 

Conclusion

Electric vehicles aren’t a niche choice (anymore); they’re the future of mobility. As you embark on your EV journey, consider these factors carefully. Whether you’re drawn to the environmental benefits, the thrill of instant acceleration, or the sheer practicality, an EV might just be the perfect fit for your lifestyle. Buckle up, charge up, and join the electric revolution!

 

If you are looking electric vehicle finance, look no further than Kiwi Car Loans! We aim to provide affordable finance options to our clients! Start your application now and enjoy competitive finance rates and flexible loan terms!

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LOANS RANGE FROM $5,000 TO $250,000

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12 MONTHS 84 MONTHS

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$

PAYMENT FREQUENCY

% p.a.

OUR INTEREST RATES VARY BETWEEN 9.95% AND 23.00%.

48 MONTHS

12 MONTHS 84 MONTHS

CALCULATE

*Our fixed interest rates vary between 9.95% and 23.00%, and the rates you receive will depend on your individual circumstances. There is a loan establishment fee starting at $510, a PPSR fee from $7.39, and a monthly administration fee from $2.17. Approval for financing is subject to Kiwi Car Loans' Terms and Conditions, lending criteria, and responsible lending standards.

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OUR INTEREST RATES VARY BETWEEN 9.95% and 23.00%

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LOANS RANGE FROM $5,000 TO $250,000

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