Benefits to buying an EV in Ontario

Benefits to buying an EV in Ontario

Posted on June 27, 2022

Ontarians on the fence about whether they should switch from a gas-powered vehicle to an EV have a few compelling reasons to make the switch.

The first reason is your wallet, gas prices are shooting up daily, and we could see $3 per litre of gas before the end of the Summer if things continue.

Most Canadians need to drive, there are no viable alternatives, but we are tired of getting fleeced each time we pull in for gas; switching over to an EV will help alleviate the financial strife you are experiencing once and for all.

An incentive for installing a level 2 charger in your home

There are three types of charging available for your EV.

• Level one is the most basic form of charging; you plug it into your 110V socket in your home. This can take several hours, if not days, to fully recharge your EV.
• Level 2 charging gives you access to a 220V socket similar to the one that drives your electric clothes dryer but with more amperage. Select carmakers and the Government of Ontario are offering incentives to help offset the costs of having a licensed electrician install the level 2 charger at your home.
• Level 3 charging is found at Petro Canada and other locations; these stations charge a nominal sum to access the network and provide the quickest recharging speeds.

Rebates galore for EV buyers in Ontario

There are numerous rebates coming out that will help reduce the costs that come with buying an EV. What may surprise you is the average price of an EV is comparable to a gas-powered car with similar driving attributes.

While the first-generation EVs were somewhat pricey, thanks to the major carmakers making strategic investments, they are able to produce more vehicles in a shorter amount of time.

Financing an EV has never been easier

With the growing popularity of EVs in Canada, there are new lenders coming into the market and vying for your business. As the EV marketplace matures, we will see lenders migrate away from purely gas-powered vehicles to providing financing for hybrids and EVs, which are here to stay.

Since the car market in Ontario is heating up, this would be an ideal time to begin looking at taking the leap.

Don’t try to go it alone

One of the biggest mistakes is trying to buy an EV on your own. You should contact your local dealership and look at the full range of new and used EVs they have available. If you have never driven an EV, this is the perfect time to go for a test drive and experience one-pedal driving.

The local car dealership that you meet with will also help you secure a great deal, even if your credit is on the weak side. With gas prices soaring, no one can afford to wait any longer; the sooner you go for the test drive, the happier you are going to be behind the wheel of your new EV, so contact the dealership right now.

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