My partner and I only have one car, so our Ford Fiesta gets a lot of use. It has about 150,000 miles on it and will probably need to be replaced in the near future. For that reason, we’ve been considering our replacement options and looking into different types of vehicles, including electric cars.
Buying an electric car is often touted as a way to save money. Per mile, electricity usually costs less than gas. Plus, electric cars don’t need oil changes, tune-ups, or coolant flushes, which reduces maintenance costs. One analysis by Consumer Reports found that EV owners save about 50% on repairs and maintenance over the lifespan of their cars compared to drivers of gas-powered vehicles.
If you add in the fact that you may get a tax credit for buying an electric vehicle, the purchase starts to seem like a no-brainer. Unfortunately, buying an EV isn’t feasible for my partner and I for a few reasons. Here’s why I’m not buying an electric vehicle as my next car.
My Area Doesn’t Have Enough Car Chargers
I live in a pretty rural area, so unfortunately I don’t have access to a lot of electric vehicle chargers. The only chargers available to us are in a town 30 miles north of our house. We could probably make this work if my partner had a short commute and we installed an at-home EV charger.
However, my partner often needs to drive two hours west of our house for work. There are no car chargers anywhere near the remote locations my partner has to visit. Considering most electric vehicles only have a 250-mile range, it would be impossible for us to get where we need to go on a single charge. So until infrastructure improves and more car chargers are installed in our area, it simply isn’t feasible for us to have an electric vehicle.
Electric Cars Work Poorly In Cold Weather
Even if our area gets more electric car chargers, we may not be able to own an EV because of our climate. It gets extremely cold here in the winter and often goes down to -10 degrees. From what I’ve heard, electric vehicles don’t work well in extreme cold.
Electric vehicles reportedly lose about 40% of their range when temperatures drop from 75 degrees to 20 degrees. This means a car that usually has a range of 250 miles can only be driven for 150 miles when the temperature goes down to 20 degrees. Since our area gets even colder than that, I’m concerned that an EV couldn’t get us very far in the winter without frequent recharging.
My partner and I enjoy birdwatching and exploring nature, so we wouldn’t want our outings to be severely limited by our vehicle’s range. I’d also be worried that our car would run out of charge and leave us stranded in the cold on the side of the road. Until some technological improvements are made in this area, I don’t think I’d be comfortable owning a fully electric car.
Insurance Is More Expensive
According to Yahoo Finance, it’s more expensive to insure an electric vehicle than a gas-powered car. Here in Michigan, car insurance rates are higher than the national average, so I’m hesitant to buy a vehicle that would increase our premiums even more.
Certain Repairs Are More Costly
It usually costs less to maintain an electric vehicle than a gas-powered car under normal circumstances. However, if you get into an accident, it may cost extra to repair your electric vehicle. Studies have shown that it can cost over 50% more to repair an electric car after an accident than a gas-powered one.
Although there aren’t many drivers on the road in my neck of the woods, there are lots of deer who love to run into the middle of the highway. Even though we keep our eyes peeled for deer, we’ve had a couple of near misses, so I’m not sure I want to own a car that’s more expensive to repair after an accident.
Plus, I’ve heard it can be harder to find mechanics who are willing to work on electric vehicles. Repairs can also take longer because mechanics are less familiar with electric cars and may work a bit slower. This is a big drawback because we don’t have a backup car we can drive while an EV is in the shop.
Wrapping Up
Although electric vehicles can save drivers money on maintenance and fuel, buying one isn’t always the right decision. If electricity costs a lot in your area or you don’t have easy access to car chargers, you may be better off sticking with a gas-powered car.
Do you think buying an EV is a good way to save money? Would you buy one or do you prefer gas-powered cars? Share your thoughts in the comments!
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Vicky Monroe is a freelance personal finance and lifestyle writer. When she’s not busy writing about her favorite money saving hacks or tinkering with her budget spreadsheets, she likes to travel, garden, and cook healthy vegetarian meals.
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