EV Cost of Ownership

One of the common misconceptions when it comes to EVs is that they are too expensive. While there might have been truth in this just a few years ago, things have started to change. As more manufacturers are jumping on the bandwagon and technologies develop and get less expensive, these rides have become more affordable than ever before. But we at Heritage Cadillac are here to break down the cost for you to put your mind at ease.

Initial Cost

At the end of the day, it all begins with the initial sticker price of the EV you have your heart set on. Even if you think the cost will be out of your price range, there are a few things to keep in mind. To start, buying a battery-operated set of wheels makes you eligible for tax rebates. At the federal level, you can receive up to a $7,500 tax credit. Moreover, depending on the state you live in, you might experience additional benefits for the purchase of an EV and the installation of an at-home charger. As you can see, your next EV won't set your financial goals back!

Maintenance

While the price of a purchase generally gets the most attention when it comes to the cost of a vehicle, there's much more to consider in terms of the associated maintenance expenses over the course of a ride's life. EVs truly stand out if you want to reduce the amount you pay for routine care. Because they don't require the complex moving parts of traditional gas engines, these advanced autos necessitate fewer trips to a service department. In fact, you won't even have to schedule appointments for an oil change anymore, which is the most frequent task you'll have to handle if your set of wheels relies on combustion. To learn more about the maintenance costs of EVs, give our team a call!

Charging

Of course, EVs are unique since they don't rely on gas to get you from point A to point B. Instead, you'll be using electric power, which you'll be able to draw through the use of an at-home charger or a specialized station. As you would expect, the latter is slightly more expensive than the former. This is excellent news since the majority of individuals end up charging at home. And, if you want to minimize the amount you pay even more, you can always plug your ride in during off hours to take advantage of the better rates!

Heritage Cadillac can tell you more in regards to EV cost of ownership when you contact us. Until then, we invite you to read through our reviews to learn what our clients have enjoyed about their time with us!