Affordability of Electric Cars
Why EVs Are Becoming More Accessible to the Average Driver
When electric vehicles (EVs) first hit the market, they were prohibitively expensive. Thankfully, prices are coming down, which makes it easier to find a quality electric vehicle at a price you can afford. People often overestimate the cost of purchasing an EV while simultaneously underestimating how much money they will save over time.What You Need to Know About EV Pricing
If there’s one thing drivers need to understand about EV pricing, it’s that the cost of producing an electric vehicle depends largely on the current price of batteries. The good news is that EV battery prices have been falling, and financial analysts predict this trend will continue. So, will EVs get cheaper? The short answer is yes. By 2025 or earlier, experts believe the most affordable EV cars will cost less than their gas-powered alternatives, even without subsidies and incentives.
Where Does That Leave Today’s Drivers
Chances are that if you’re checking out the selection of Ford EV cars, trucks, and vans at Jack Schmitt Ford of Collinsville now, you don’t want to wait until 2025 for greater EV affordability. When you shop with us, you don’t have to. We offer affordable pricing on Ford’s current lineup of electrified vehicles, including the F-150 Lightning, the Mustang Mach-E, and the E-Transit van. There’s no need to wait for the best affordable EV when it’s already waiting for you in our showroom. If you’re worried about covering the purchase price, our financing department can help. We offer great rates on new car loans. Plus, federal tax credits are available to cover both EVs and plug-in hybrid EVs (PHEVs).
Are Electric Cars Cheaper Than Gas?
Understanding electric vehicle affordability isn’t just about checking price tags on new vehicles. Even if the electrified version of your favorite car, truck, or van costs more up-front now, you could still save money in the long run. Let’s take a look at some examples: the Mustang Mach-E. If you use a home charging station, you’ll save an average of $8.00 per tank of gas in a Ford Edge, which still features a combustion engine to travel the same distance in the electrified Mach-E. The difference is even more significant in a larger vehicle. Let’s look at the F-150 and F-150 Lightning. On average, it costs a little over $100 to fill up a gas F-150 EcoBoost 4x4. Home charging costs are less than $70 to travel the same distance.When Will Electric Vehicles Be Affordable?
If you’re still wondering when electric vehicles will be affordable, consider the cost of ownership. The price of EVs is still coming down, but does that mean you have to wait until 2025 to buy a new electric vehicle? For most drivers, the answer is no. The cost of ownership associated with going electric vs continuing to drive a traditional vehicle is already significantly lower, and it’s not just about the cost of getting from A to B. EV motors aren’t as complicated as combustion engines, so there’s less to go wrong. They also require less maintenance. Combine that with what you’ll save on fuel, and it’s clear that you don’t have to wait to save money. Head to our showroom to check out the EV selection at Jack Schmitt Ford of Collinsville today.
Why Choose Jack Schmitt Ford?
Visiting Jack Schmitt Ford of Collinsville, IL, is a no-pressure experience focused on your satisfaction. With competitive pricing, a huge collection of Ford models, and generations of expertise, Jack Schmitt Ford of Collinsville has the winning combination to make your search for the perfect Ford an enjoyable one.
Whether you're new to owning a Ford or you've been behind the wheel of one for generations, the team at Jack Schmitt Ford of Collinsville is here for all of your Ford needs. From sales and service to parts and trade-ins, people all over the St. Louis area keep coming back. Stop by and see why today.
