Why an electric sedan should be your next car?

Cision says electric vehicles cost an average of $10,000 more than comparable gasoline vehicles at the time of purchase, according to the Kelly Blue Book. The median selling price for a new gasoline car is $46,320, while an electric car costs $56,437. So how does saving money when using an electric car pay off?

Loans, savings and planning for the future 

Savings on electric vehicles start immediately. Federal tax credits can cover up to $7,500 of the purchase price of an electric vehicle. That is, most of the original $10,000 price difference. Anyone who buys a new, uncut EV from a manufacturer that has not yet sold 200,000 units, i.e. all EVs except GM and Tesla, can get a tax credit. To apply for a loan, complete IRS Form 8936. The federal tax credit is the largest, but states, cities, and even some utilities offer credits.

California is offering more benefits to low-income consumers, including a $2,000 credit for all zero-emission vehicles (in addition to the federal credit). Those who live in the San Joaquin Valley Air Pollution Zone and replace their natural gas car can receive an additional $4,500.

Lower fuel and maintenance costs for electric vehicles 

Tax incentives are just one of the reasons electric vehicles end up being cheaper than their gasoline counterparts. In most cases, filling and maintaining a natural gas car costs about $1,117 per year, while an electric car costs about $485.

In addition, most drivers note that electric vehicles require minimal maintenance. On the other hand, natural gas vehicles require regular maintenance, including oil, coolant and transmission fluid changes, which adds to the cost of ownership. In addition, combustion-engine cars are on average less fuel efficient, with fully charged electric cars costing less than $7 per electric power compared to about $40 for gasoline cars.Electric vehicle drivers will eventually have to face the challenge of replacing the battery, which in most cases comes with a 10 year or 150,000 km warranty. Around the same time, drivers are still looking to replace their cars, be they electric or petrol.