Should You Buy an EV Car?

The buy ev car market has grown over the past year, but many Americans still don’t own an electric vehicle or aren’t seriously considering buying one. That could change soon.

Several factors are driving interest in electric vehicles. They’re quieter, smoother and generally more enjoyable to drive than traditional gasoline-powered cars. They’re also cheaper to operate, with electricity costs far lower than fuel costs, and they emit less of the pollutants that contribute to climate change. And they’re more affordable than they once were, as battery prices have fallen significantly and production has accelerated.

But whether you’re a single-car household or a family with multiple drivers, buying an EV isn’t without its drawbacks. There are questions about how far you can travel on a charge, the availability of public charging, the resale value of EVs and their long-term durability.

Buy EV Car: Tips for Your First Electric Vehicle Purchase

Some EVs are modified versions of existing gasoline-powered vehicles, and they’re likely to feel familiar to drivers. But others have been designed from the ground up for their electric drivetrains, which can add to the cost.

Leasing may make sense for some EV shoppers. If you’re worried about keeping up with rapidly changing technology or if you’re concerned that EV battery and charging standards may not be ready for the next model cycle, leasing lets you upgrade to a new car at the end of your lease term. But it’s important to consider whether you can actually afford to do that based on your projected gas and electricity costs.