The End of the Year is a Great Time to Buy an EV
Autumn is typically the prime time for vehicle shopping as dealers often offer discounts on existing stock to make way for new models. However, it may be even better to wait until the end of the year. Dealers and automakers are often trying to meet annual sales goals by hosting end-of-year sales events that feature financing and lease deals.
If you're in the market for a new vehicle, you can benefit from buying now. Making the switch to electric vehicles (EVs) can offer you even more benefits. Learn about all the advantages that EVs have to offer.
Lower fuel costs
Electricity is generally cheaper than gasoline, and the price of electricity is much more stable. EV owners can save a considerable amount of money on fuel expenses over the lifetime of the vehicle while enjoying the reliable cost of charging at home versus the uncertainty of paying at the pump.
Increased energy efficiency
EVs give you far more bang for your buck in terms of energy use. EVs use approximately 87% to 91% of the energy from the battery and regenerative braking to propel the vehicle, according to the U.S. Environmental Protection Agency. Gasoline vehicles, by contrast, have an energy-to-wheels conversion rate of 16% to 25%.
Less maintenance
Tired of all those oil changes, spark plug replacements and other vehicle maintenance tasks? The good news is that EV motors have no oil or spark plugs, so you'll never have to change them again. Overall, EVs have fewer moving parts than gasoline vehicles, and that simplicity means less maintenance for you.
Fewer emissions
EVs produce zero tailpipe emissions, contributing to cleaner air in your neighborhood and community. While the generation of electricity does produce emissions, EVs produce fewer lifecycle emissions than gasoline vehicles, especially when the electricity used to charge them comes from renewable sources.
Quieter operation
EVs operate much more quietly than gasoline-fueled cars because they lack a loud internal combustion engine and exhaust system. You'll be contributing far less noise pollution to your neighborhood and community.
A better deal
EVs typically cost more to purchase than traditional gasoline vehicles, but the price of EVs continues to fall, according to Cox Automotive data. Plus, the lower operating costs of EVs can more than make up for any higher upfront costs over time. Remember, there may also be financial incentives available in your area for purchasing EVs.
Today, there is a wide variety of EVs on the market with an average driving range of up to 300 miles per charge or more. Vehicle range, however, can vary depending on the model, weather conditions and other factors.
If you're looking for a deal on a new vehicle that costs less to operate, is better for the environment and is easier to maintain, start the new year off right by making the switch to an EV.
As a SWEPCO customer, you can get an incentive of up to $250 when you install a ENERGY STAR® - certified Level 2 EV Charging Station. Visit SWEPCOsolutions.com to learn more.
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