I want a new car, but if it’s a fossil-fueled car, it won’t be eco-friendly., I’m not so sure about an EV car either, so what to buy?”…“An EV car is only good for grocery shopping. A normal car probably works best.”
These are common questions from prospective car owners. It’s hard to resist the latest automobile technology, but when it’s time to part with the money, there are several factors to consider, such as safety, comfort, and value for money.
Let’s look at the first question: Is an EV worth the money? EVs are certainly good for the environment, but we have to consider other factors. Buying an EV is worth the money if petrol and EV vehicles have the same selling price because the cost of electricity is lower. The annual maintenance cost is also cheaper as there’s no need to replace parts.
But, if you often change your car, the shorter battery life (8-10 years) and the high battery replacement price might not make it a worthwhile investment. However, this could change in the future when the price of batteries become more affordable. In this case, a second-hand conventional car seems a better choice.
Do you live in a house or a high-rise?
If you live in an apartment, it’s important to find a local charging station. Luckily, the number of charging stations is rising, although the situation is far from ideal. Also keep in mind the waiting time it takes to recharge. If you live in a house, you can buy and install a charging box, which requires a certain type of electricity to work.
How about getting a PHEV – Plug-in Hybrid Electric Vehicle? It offers the best choice as it supports both fuelling systems.
The idea sounds good as you can save the world and enjoy the latest technology and safety. When the electricity is exhausted, the gasoline component will kick in. But double perks come with double trouble, such as double maintenance expenses.
There are no definitive answers. It all depends on your lifestyle, usage, budget, and preferences. If you are planning to buy an EV in the next few years, this is the best time because governments have begun offering tax incentives. So, is it worth buying? In terms of value for money, the answer is ‘Yes.’