Should I Buy EV now or wait

With the rising gas prices and changes in environmental laws, it is evident that electric vehicles will dominate the future. And why not, considering EVs produce zero emissions and can help realize our dream of a greener tomorrow. However, the common man needs to weigh the pros and cons of whether to go for EV now or wait, especially because of the pocket pinch.

Consider your needs

If you have a long commute or frequently drive long distances, an EV may not be the best option for you at this time. Additionally, if you live in an area with cold winters, you may want to wait until battery technology has progressed to the point where EVs can better handle extreme temperatures.

However, the government has drawn up an EV infrastructure plan for interstate highways, so it's a matter of time before charging an EV will be as easy as filling gas. Though you will be saving cost on fuel, you may have to spend time charging cars instead.

However, if you primarily use your car for short trips around town, an EV may be a good fit for your lifestyle.

Consider the cost

Of course, the cost is also a major factor to consider when deciding whether to buy an EV now or wait. EVs are currently more expensive than traditional gasoline cars, so you'll need to make sure you can afford the upfront cost. Additionally, charging infrastructure is still being developed, so you'll need to factor in the cost of home EV charger installation as well as the cost of charging while away from home.

It is also important to consider your home is EV-ready so that the right setup can be made in order for the vehicle owner to charge their car at home. 

However, you will be saving on gas and maintenance costs for engine oils and regular servicing, and EV owners have vouched how with time the cost difference becomes at par. Given the tax credits by the federal government perhaps, your dilemma to buy EV now or wait will increase. Primarily, one should research the current incentives available and determine if those savings make buying now more beneficial than waiting.

Since EV cars are available in every model from hatchbacks to luxury SUVs, you might be researching if one with upgraded features or better battery technology is around the corner and may be worth waiting for. 

Consider the environment

Another important consideration is the environment. EVs produce zero emissions, so they're much better for the environment than traditional gasoline cars. If you're concerned about your environmental impact, buying an EV now may be the best option for you. If you have a solar panel in your house, you should consider charging with solar energy.

Ultimately it can come down to finances as cars do require expenses such as ongoing insurance, and registration fees- which should all weigh into the decision-making process of when one purchases an EV vehicle.

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