· Electric vehicles are better for the environment
o Emission reduction and a reduced use of fuels are a pro for EVs. Because EV’s do not have a gas-powered engine and rely on a rechargeable battery, driving an EV does not create any emissions from an exhaust system because the cars do not have one. This allows for the promotion of cleaner air and less greenhouse gases within the air.
· Electricity is cheap and renewable
o Because EV’s utilize electricity, they are naturally more sustainable and cheaper in the long run to drive as compared to gas-powered engines. On average, EV owners pay about one-third the cost of gas-powered vehicles to run.
· Less expensive and frequent maintenance
o EV’s do not require the typical expensive and time-consuming maintenance that is often associated with gas-powered engines. The service that is required on the vehicle is usually minimal in nature and not as extensive as EVs tend to be lighter on things such as brakes and tires.
· Tax credits
o Original owners of EVs can also receive credits on tax returns for simply owning an EV. Some car owners can get up to $7,500 in credit in some states for certain cars. State incentive programs for Electric vehicles vary in their scope and applicability. While tax incentives are most frequently mentioned, rebates, HOV access, toll reduction and sales tax exemptions are also offered. States currently offering tax incentives include California, Colorado, Connecticut, Delaware, Louisiana, Maryland, New Jersey, New York, Pennsylvania, Oregon, and Washington DC – however the list is always changing. These state tax incentives currently range from $500 to $5,000. Please consult your knowledgeable financial planner or tax specialist to determine how the state and federal incentive may apply to you.
Patrick Dealer Group is more than happy to answer any questions you may have about EV’s or any other alternative fuel vehicle. Our team of dedicated professionals aim to make your car buying experience simple, informative, and transparent. If you have any further questions on EV’s click here or give us a call for more information.