Simple money saving hacks to use when shopping for an EV

Simple money saving hacks to use when shopping for an EV

Posted on August 1, 2022

Our Burlington auto loans team are going to share with you some money-saving hacks that will help you find the EV you need at a price you can afford.

The case for buying an EV in 2022

Technology is always changing, and as it becomes more mainstream, the price of that technology comes down whether we are talking about VCRs (yeah, from way back when) to televisions to EVs.

As the industry reaches an economy of scale, consumers benefit.

In 2022 there is a unique set of variables that make owning an EV a viable option for most Canadians from coast to coast.

• The retail prices for the average EV are practically on par with gasoline-powered vehicles, especially when you factor in the rebates offered by the government.
• Range anxiety was a legitimate concern in the past, but now with developments, the average EV will have a range similar to what a gasoline-powered vehicle has, all other things being equal.
• Financing the purchase of an EV has now entered the mainstream world of finance. The first generation EVs, only individuals with significant credit scores and substantial net worth, could access financing.

These are a few compelling reasons why you should make the switch to an EV, but let's take a more pragmatic approach.

Gas prices are rising, with carbon taxes being applied to fuel; even if the price of oil were to drop substantially overnight, these taxes would keep gas prices high.

While most of us saved money on gas by now having to commute during the pandemic, employers are now returning to onsite work instead of the work-from-home model that was adopted during the pandemic.

Since you are going to be driving more, each time you get behind the wheel, you are going to feel the pain at the gas pump.

Electric vehicles benefit from predictable energy prices that aren't subject to wild changes like gasoline. You can even get a subsidy and rebate for installing a level-2 charger in your home.

These chargers give you the ability to plug your EV at home and charge during the evening when electricity prices are at the lowest.

By topping up your battery in the evening, you shouldn't need to use level-3 chargers unless you are going on a long road trip.

Getting an amazing deal on a new EV

With major carmakers like Ford offering a full range of EVs, there has never been a better time to buy an EV.

In theory, you could buy an EV online. Still, you should head over to your local dealership and start exploring the options that are available to you.

When you go through a local dealership, they can secure financing terms for you that are very competitive and can help show you how to improve your credit score if you are facing credit issues.

If you never test drove an EV, you are in for a real treat so contact your local dealership today.

Contact Unique Chrysler for help, advice and competitive Burlington car finance and leasing.

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