No doubt the EV industry has been boosted over a recent period of time and the majority of companies are shifting towards the electric world. There is Prediction that majority of people will buy an electric vehicle till 2035.
This article is going to guide you to the eligibility criteria to buy an Electric Vehicle, EV industry status, Importance of EVs in one’s life etc. Like other EV informational pages this one will advise you too to buy an EV at the right time along with a suitable one.
There is a benefit in the form of Tax Credits but it’s not permanent because this option is given only up to a certain amount of sale volume. Tesla has removed its tax credits as well as meeting its minimum sales. On the lower side, Tax credit for used car is $4000 while $7500 for brand new car approximately.
When to Buy an Electric Vehicle?
As per said and a valid reason of hitting of EV tax credit caps by major brands, one should plan to buy an EV. An individual must think of buying it as the world has started experiencing EVs. It should be in your task list to keep focusing on buying an Electric Vehicle. One should keep searching for the market and checking rates including tax credit limits.
On the other hand, if you have deep focus on upcoming EVs and plan accordingly. You might be right on your own thinking. For Example, an individual has a plan to buy an EV which is coming in market in 2025. Being focused, one should wait for it and keep in mind that maybe tax rebates wouldn’t be available at that time.
Finally, we should have to accept this reality that EVs are becoming more popular and available in wide range with incredible variety. Here are a few reasons on which bases majority of people are thinking of switching from ICE to EVs in 2023.
4 Major Reasons to Buy an Electric Vehicle
- Future technology: With the passage of time technology is changing. So, humans want that change for their own ease. This change of human behavior makes EVs more appealing.
- Cost: Considering in the long run EVs are more beneficial. Although the purchase price of EVs is higher than ICE vehicles. But when we compare it for future, it shows us that EVs will be more reasonable as compared to ICEs.
- Range and charging Infrastructure: It is witnessed that EVs give good range as per cost analysis. For the moment, Because EV industry is at the starting stage, and it will increase with passage of time. So, charging infrastructure isn’t as developed as Fuel world is. Considering charging infrastructure and especially for long commutes, it’s bit inconvenient. But for the short run EVs are really a good gift.
- Environmental impact: EVs are a source of zero emission as compared to ICE vehicles. The world, this time has serious concerns related to environment and EVs are good to save environment. But it depends on that charging sources to charge EVs are taking fossil fuels are not.
How to buy an Electric Vehicle
To fight inflation an Act regarding inflation reduction has been passed. According to this act $300 Billion are going to be invested in Deficit reduction and $369 Billion in climate change and energy security. Investing a lot of capital will help the public to shift to EVs and environment friendly.
In our opinion, an individual should do a little research and focus on maximum battery time, charging Network, charging equipment, Suitable Charging Stations, Vehicle Types (Sedan, SUV etc.), Travel schedules and Tax credits. After that the best advice to buy an EV is to pay a little fee to a good consultant and find the best option for you. With this strategy, you will never regret your investment.
How much do Electric Vehicles Cost to Buy
As it was advised earlier to keep the things in mind prior to buying an EV as per budget and need. However, EVs are a bit expensive in comparison with ICE vehicles. But with Tax credit and long-term investment it will reach at the same level as ICEs are.
Just as an idea Nissan Leaf starts at less than $28000. Below are examples of some vehicles along with their prices. For more information you may visit their sites or keep following Vehicles Ambassador.
EVs Models, Prices, Tax Credit Status & Ranges
| ELECTRIC CARS | Basic PRICE | EV TAX CREDIT | RANGE (Min) | RANGE (Max) |
| 2022 Mini Electric Hardtop | $29,900 | Yes | 114 | 114 |
| 2022 Chevrolet Bolt EV | $31,500 | No | 259 | 259 |
| 2022 Nissan Leaf | $28000 Aprx | Yes | 149 | 226 |
| Luxury Evs | Basic PRICE | EV TAX CREDIT | RANGE (Min) | RANGE (Max) |
| 2021 BMW i3 | $44,450 | Yes | 153 | 153 |
| 2022 Tesla Model 3 | $46,990 | No | 272 | 358 |
| 2022 Polestar 2 | $48,400 | Yes | 249 | 270 |
| 2022 BMW i4 | $55,400 | Yes | 227 | 301 |
| 2022 Lucid Air | $77,400 | Yes | 406 | 520 |
| 2022 Porsche Taycan | $86,700 | Yes | 199 | 227 |
| 2022 Tesla Model S | $99,990 | No | 396 | 405 |
| 2022 Audi e-tron GT | $102,400 | Yes | 204 | 238 |
| 2022 Mercedes-Benz EQS | $120,310 | Yes | 340 | 350 |
| 2022 Rimac Nevera | $2,400,000 | Yes | 341 (WLTP) | 341 (WLTP) |
| SUVs (EV) | Basic PRICE | EV TAX CREDIT | RANGE (Min) | RANGE (Max) |
| 2022 Mazda MX-30 | $33,470 | Yes | 100 | 100 |
| 2022 Chevrolet Bolt EUV | $33,500 | No | 247 | 247 |
| 2022 Hyundai Kona EV | $34,000 | Yes | 258 | 258 |
| 2023 Kia Niro EV | $39,990 | Yes | 239 | 239 |
| 2022 Kia EV6 | $40,900 | Yes | 232 | 310 |
| 2022 Volkswagen ID.4 | $41,230 | Yes | 245 | 280 |
| 2023 Toyota bZ4X | $42,000 | Yes | 222 | 252 |
| 2022 Ford Mustang Mach-E | $43,895 | Yes | 224 | 314 |
| 2022 Hyundai Ioniq 5 | $44,000 | Yes | 220 | 303 |
| 2023 Subaru Solterra | $44,995 | Yes | 222 | 228 |
| 2023 Nissan Ariya | $45,950 | Yes | N/A | 300 |
| LUXURY SUVs (EV) | Basic PRICE | EV TAX CREDIT | RANGE (Min) | RANGE (Max) |
| 2023 Fisker Ocean | $37,499 | Yes | 250 | 350+ |
| 2023 Audi Q4 e-tron | $43,900 | Yes | 241 | 241 |
| 2022 Volvo XC40 Recharge | $51,700 | Yes | 223 | 223 |
| 2023 Volvo C40 Recharge | $58,750 | Yes | 226 | 226 |
| 2023 Genesis GV60 | $58,890 | Yes | 235 | 248 |
| 2022 Tesla Model Y | $62,990 | No | 303 | 330 |
| 2023 Cadillac Lyriq | $62,990 | No | 312 | N/A |
| 2022 Audi e-tron | $65,900 | Yes | 218 | 222 |
| 2022 Jaguar I-Pace | $69,900 | Yes | 234 | 234 |
| 2023 Rivian R1S | $72,500 | Yes | 260+ | 320+ |
| 2024 GMC Hummer EV SUV | $79,995 | Yes | 250+ | 300+ |
| 2022 BMW iX | $83,200 | Yes | 305 | 324 |
| 2022 Tesla Model X | $114,990 | No | 333 | 348 |
| PICKUP TRUCK (EVs) | Basic PRICE | EV TAX CREDIT | RANGE (Min) | RANGE (Max) |
| 2024 Chevrolet Silverado EV | $39,900 | No | N/A | 400 |
| 2022 Ford F-150 Lightning | $39,974 | Yes | 230 | 320 |
| 2022 Rivian R1T | $67,500 | Yes | 260+ | 400+ |
| 2022 GMC Hummer EV Pickup | $79,995 | No | 250+ | 300+ |
What is Best Electric Vehicle to Buy
Edmunds gives authentic and independent reviews after research and tests of 200 vehicles. They have covered the data on the bases of performance, technology, exterior designs, interior designs, and comfortability. You may visit Edmunds independent reviews and select your choice. We are sure that it will not disappoint you and let you regret the decision.
What is the Cheapest Electric Vehicle to buy in 2023
Psychologically everybody wants to get the best thing for less money. Sometimes this strategy works as risk taking and sometimes it breaks. The people who always research before taking any decision and then go for right as per their requirement are always successful in any field. Same goes before selection of transportation means.
In the matter of electric vehicles, an intelligent always researches on Models, Performance, comfort & safety, Tax rebates, maintenance, and resale values. We are giving you a bulk of information by clicking 1, 2, 3, 4, options. It’s an assurance that if you go through details and decide wisely. You are going to memorize us in future to help you on this decision.
Conclusion
Although we have tried our best to give you good advise along with examples to buy an Electric Vehicle. However it totally depends upon your personal circumstances, driving habits, commutes, budget and priorities. But if you can afford, you should go for EV as the world is adopting it. For more information regarding, you visit Vehicles Ambassador